Behavior Analytics Market size was valued at USD 846.8 million in 2023 and is likely to reach USD 32.53 billion by 2036, expanding at around 32.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of behavior analytics is estimated at USD 1.06 billion.
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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
32.4% |
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Base Year Market Size (2023) |
USD 846.8 million |
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Forecast Year Market Size (2036) |
USD 32.53 billion |
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Regional Scope |
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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.
Our in-depth analysis of the global market includes the following segments
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By Deployment
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By Type |
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By End User
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On the basis of geographical analysis, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific is estimated to account for largest revenue share by 2036, on the back of growing use of mobile and web applications, and intensifying requirement for security solutions capable of identifying threats in the data.
North America Market Analysis
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.
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.
Author Credits: Abhishek Verma
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