The Internet is the common worldwide computing network. It allows global communications between all similar or connected computing devices. It provides a platform for web services and the World Wide Web. Web mining technology is a type of data mining technology which is used to automatically extract and discover data from World Wide Web services and web archives. Web mining aims to discover valuable knowledge or information from the web hyperlink structure, usage data, and page content. Web crawlers generally use this technology to collect essential information from numerous web sources. Web mining technology allows a company or an individual to understand marketing dynamics, promote businesses, and understand new upgrades on the Internet. Currently, there is an emerging trend among organizations, individuals, and companies to collect data through web data mining in order to use that data in their best interest. Web data mining is not only engaged in collecting business information, it is also used by different industries or organizations to make the right decisions and right predictions for workflow management, business development, production process management, etc.
Web mining is also used to understand consumer behaviour, evaluate the efficiency of a specific Web site, and help measure the accomplishment of a marketing promotion. The information or data collected by using web mining technology is evaluated (sometimes with the help of software graphing applications) by using legacy data mining dynamics such as analysis of sequential patterns, association and clustering and classification.
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The global web mining technology market is witnessing growth due to factors such as growing need for enhanced customer support and rising emphasis on fraud detection and protection. Apart from this, growing awareness among enterprises to leverage available data assets is also fueling the demand for web mining technology across the world. Currently, the usage of the internet is growing at a substantial rate. Personalization process of web mining is expected to create new opportunities for the growth of internet usage across the world. Moreover, growing online shopping activities are also expected to boost the growth of the web mining technology market in the coming years. This technique has enabled e-commerce to conduct personalized marketing, which ultimately results in higher trade volume.
However, data security, privacy, and reliability concerns among consumers or businesses are one of the major factors which is expected to hinder the growth of the web mining technology market around the globe.
The global web mining technology market can be segmented based on the type, application, and geography. Based on type, the market can be classified into web content mining, web structure mining, and web usage mining. In terms of application, the market can be bifurcated into e-commerce, information filtering, fraud detection, network management, marketing research, education and others.
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By geography, the global web mining technology market can be categorized into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The web mining market in North America is anticipated to expand at a higher growth rate during the forecast period. This is primarily due to the increase in adoption of advanced technology and high focus on technology innovation, specifically in the developed markets of the region. However, Asia Pacific is expected to be among the lucrative regions in the global web mining technology market. This is the result of the presence of a large customer base and a large number of small and medium enterprises.
Major players operating in the global web mining technology market include SPSS Inc., TechHighway Systems Pvt. Ltd., Intelliswift Software, Inc., Octopus Data, Inc., Scrapinghub, Datafiniti, LLC, and Prompt Cloud.
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