Behavior Analytics Market is Moving Fast! | Major Key Companies are Bay dynamics, Splunk, Securonic, Exabeam, Gurucul, Niara, Sqrrl Data, Dtex Systems, Rapid7, Veronis, Logrhythm, Vectra Networks, IBM, McAfee, and HPE

The behavior analytics market is expected to witness strong growth owing to the rising incidences of cybercrimes in the organizations across the globe. The increasing demand for real-time security analytics solutions among organizations mainly to detect the spiteful activities will further augment the business outlook. There is rising adoption of cloud-based services among SMBs as well.

Subsequently, the rising penetration of smartphone users across the globe is driving the overall behavior analytics market. This growth is driven by the easy availability of low-priced smartphones along with the rise of 4G LTE technologies. This in turn led to rapid adoption of web and mobile-based applications and rising need to safeguard these applications.

Below are some key trends that would majorly influence behavior analytics industry expansion:

Behavior analytics solutions across America’s BFSI sector

The BFSI is one of the leading sectors in North America behavior analytics market. In 2016, the segment accounted around 20% of the overall regional industry share. The risk of insider and cyber-attacks among insurance firms, banks as well as other financial institutes will increase the demand for these solutions across North America’s BFSI sector.

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The financial institutes are in fact more data-intensive, holding large amount of ATM and credit card processing data which is prone to data breaches leading to huge financial losses. Thus, these security solutions are being adopted by financial institutes to tackle the risk of insider attacks.

Rising trend of BYOD in the U.S.

The U.S is the dominant market and in 2016, it accounted for more than 75% of regional revenue and is forecasted to progress at rapid pace. This projected growth is ascribed to the growing digital data in line with rising adoption of the cloud services among SMBs.

Subsequently, the rising trend of BYOD (Bring Your Own Devices) and higher risk of cyber-attacks has also proven to be beneficial for the market growth. Besides, the region further dominates due to the presence of some of the top industry participants like Rapid7, Splunk, and IBM.

Growing awareness of security issues across Germany

Germany accounted for around 22% of Europe market revenue in 2016. The anticipated growth is majorly ascribed to the growing awareness regarding numerous security problems as well as advanced security solutions.

Besides, a lion’s share of German businesses do not use unsanctioned solutions and applications, further fostering the regional market growth. The allocation of high budgets by organizations to apply advanced security solutions as well as educate workers about the security threats is also contributing towards behavior analytics use.

Growing risk of insider threats across Europe

Solutions market is one of the dominating components of the Europe behavior analysis market and in 2016, the segment accounted for more than 72% of the overall industry share. The segment will continue to follow robust growth over the coming time period owing to the rising number of insider threats across numerous business verticals.

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These solutions aid in reducing the insider threats mainly by finding any sort of irregular behavior around high-value data. Solutions also inspect over the user’s activity to maintain security over valuable assets and data.

Advanced analytic algorithms across Europe’s retail sector

The retail sector is likely to be one of the lucrative end-user industries across the behavior analytics market in Europe. The retail sector is projected to witness the highest growth rate of 44% over the coming years.

The behavior analysis solutions help in identifying the potential sources of data theft and unusual movement of IP way before exiting the system. Subsequently, these behavior solutions allow for transparent and full investigation in line with advanced analytic algorithms like AI and machine learning, which are adjusted towards certain behavioral risks.

Deployment of software-based solutions across China

China dominates the behavior analytics market in Asia Pacific and garnered more than 25% of regional revenue in 2016. In the last decade, businesses across China have deployed numerous software-based solutions in order to control identity access via the access management systems.

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But, the arrival of cloud technology, mobile workforce, distributed applications as well as new business opportunities has given rise to huge management and security crisis. This in turn is likely to augment the demand for these solutions across the country.

Analytics solutions across APAC’s healthcare sector

The healthcare sector of the APAC behavior analytics market is anticipated to be one of the most profitable sectors growing at more than 50% up to 2024. This projected growth is ascribed to the increasing number of cyber-attacks among numerous healthcare establishments. Behavior analytics solutions are used to preserve the trust of patients, protect the status of the healthcare organizations as well as to allow healthcare experts the access to patient data.

Logrhythm, Bay Dynamics, Veronis, Splunk, Securonic, HPE, Rapid7, IBM Corporation, Splunk and McAfee among others are some of the key players operating in the behavior analytics market. The key industry participants are further forming new partnerships with other expert players and government agencies to increase their market share as well as expand their product portfolio.

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