The UK market for web analytics will soar to £56 million by the end of the year, up 22 per cent on 2005, according to new research.
The figures, published in E-consultancy’s 2006 Web Analytics Buyer’s Guide, were based on the total UK revenues of web analytics vendors including income from software licences, hosted solutions and consultancy services.
E-consultancy analyst Linus Gregoriadis commented: “The web analytics industry is thriving because companies increasingly realise that accurate measurement and meaningful analysis is an essential platform for a successful online business.”
The company concludes that Google’s free analytics service has been a positive development for the industry because it has helped to open up the marketplace and speed up the process whereby analytics is seen as essential business decision-making tool.
E-consultancy editor Chris Lake added: “Far from posing a threat to other web analytics vendors, the launch of Google Analytics has given impetus to the sector by opening the eyes of many organisations to the benefits of best practice in this area.”
The report highlighted continued investment in web analytics across a wide spectrum of sectors including retail, financial services, automotive, travel, media and gaming.