Research Nester published a report titled “Behavior Analytics Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global behavior analytics market in terms of market segmentation by deployment, type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The behavior analytics market is estimated to occupy a large revenue by growing at a CAGR of ~46% estimated to grow from USD 130 Million in 2020 to USD 908 Million by 2030 during the forecast period, i.e., 2022 – 2030, owing to the rising adoption of cloud-based technologies, increasing incidences of insider security threats in companies and escalating integration of machine learning and advanced analytic algorithms into behavior analytics. Apart from these, growing demand for sophisticated security solutions among organizations is also expected to drive market growth in the upcoming years.
The global behavior analytics market is segmented by deployment, type and end-user. Based on end user, the financial services & insurance segment is anticipated to grab the largest market share during the forecast period on the back of increased exposure of BFSI applications to cyber-attacks. Furthermore, rising investments of financial institutions towards for IT services is also expected to further the growth of this market segment in the future.
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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the increasing data breaches and growing implementation of behavior analytics in the healthcare sector in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the rising use of mobile and web applications in the region.
Increasing Insider Security Threats in Organizations to Expand Market
Since the last few years, the total number of incidences of data theft by current or former employee who are able to access sensitive information within the network of an organization have observed a major hike. To combat such issues, companies are placing strong emphasis on deployment of user and entity behavior analytics solutions, which in turn is anticipated to drive market growth in the forthcoming years.
However, low awareness about behavior analytics in companies is expected to operate as key restraint to the growth of the behavior analytics market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global behavior analytics market which includes company profiling of Varonis Systems, Inc., Niara Inc., Splunk Inc., Microsoft Corporation, Exabeam Inc., Oracle Corporation, SAP SE, IBM Corporation, Tibco Software Inc., NTT Data Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the behavior analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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