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Behavior Analytics Market Segmentation by Deployment (On-Premise, and Cloud); by Type (Solution, and Services); by End User (Retail & E-Commerce, Energy & Utilities, Financial Services & Insurance, IT & Telecom, Healthcare, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Behavior Analytics Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·    October 14, 2020: SAP launched SAP customer data platform, a state-of-the-art CDP that enables enterprises to redefine customer experience through user and entity behavior analytics across multiple types of engagement, ranging from marketing to sales and services.

Behavior Analytics Market Highlights 2022 – 2030

The behavior analytics market is estimated to garner a hefty amount of revenue by recording a CAGR of ~46% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to increasing adoption of cloud-based technologies, rising number of cases of insider threats in organizations, and growing integration of machine learning and advanced analytics algorithms into behavior analytics globally. Every year, more than 32% of businesses around the world are affected by insider threats. The total number of insider attacks have increased by almost 48% since the last two years. In addition to these, as a result of the surge in demand for sophisticated security solutions among enterprises, the investments in detection analytical services are also observing a hike. This in turn is projected to push the demand for behavior analytics in the forthcoming years. Furthermore, inability of conventional security tools to identify several organization-based cyber-security threats is expected to provide ample growth opportunities to the market in the near future.

Behavior Analytics Market

The market is segmented by end user into retail & e-commerce, energy & utilities, financial services & insurance, IT & telecom, healthcare, and others, out of which, the financial services & insurance segment is anticipated to hold the largest share in the behavior analytics market on account of high exposure of BFSI applications to cyber-attacks. These threats are likely to result in loss of confidential data causing tremendous financial liabilities. Along with this, growing investments of financial institutions towards IT services is also assessed to drive growth to the market segment. Additionally, on the basis of deployment, the on-premise segment is evaluated to acquire for the largest market share during the forecast period owing to the large-scale adoption of on-premise deployment of security solutions and ability of these systems to analyze user activity in real-time. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Behavior Analytics Market Regional Synopsis

On the basis of geographical analysis, the behavior analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing use of mobile and web applications, and intensifying requirement for security solutions capable of identifying threats in the data. For instance, users in China have an average of 36 apps installed in their smartphones as of 2017. Amongst these, 20% of applications are used on a daily basis. Apart from these, growing penetration of internet is also projected to boost market growth in the region. Moreover, the market in North America is anticipated to acquire the largest market share during the forecast period, which can be credited to the increasing implementation of behavior analytics in the healthcare sector and rising number of data breaches in the region.

Global Behavior Analytics Market

The behavior analytics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the behavior analytics market includes the following segments:

By Deployment

  • On-Premise
  • Cloud

By Type

  • Solution
  • Services

By End User

  • Retail & E-Commerce
  • Energy & Utilities
  • Financial Services & Insurance
  • IT & Telecom
  • Healthcare
  • Others

Growth Drivers

  • Rising Adoption of Cloud-Based Technologies
  • Increasing Insider Security Threats in Companies

Challenges

  • Lack of Awareness about Behavior Analytics in Several Organizations

Top Featured Companies Dominating the Market

  • Varonis Systems, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Niara Inc.
  • Splunk Inc.
  • Microsoft Corporation
  • Exabeam Inc.
  • Oracle Corporation
  • SAP SE
  • IBM Corporation
  • Tibco Software Inc.
  • NTT Data Corporation

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