Global Behavior Analytics Market, By Component (Software and Services), By Deployment (On-premise; Cloud), By End User (BFSI; IT & Telecom; Retail; Healthcare; Others), By Region, Competition, Forecast & Opportunities, 2024

The Global Behavior Analytics Market was valued at $ 254 million in 2018 and is anticipated to grow at a CAGR of more than 40% until 2024 on account of rising need for identifying financial frauds, targeted attacks and insider attacks. Another factor boosting adoption of behavior analytics is lack of skilled professional who can identify insider attacks, which is leading to organizations turning to machine learning to identify and prevent such incidents.

Behavior analytics offers information on the actions of users based on raw data collected through online transactions, social media, among others. Gathered data is then analyzed and is used to identify opportunities and realize specific outcomes. The Global Behavior Analytics Market can be segmented based on component, deployment, end-user and region. Based on deployment, market can be bifurcated into on-premise and cloud. On-premise segment dominated the market in 2018 and the trend is expected to continue until 2024 as well. This is due to the fact that above mentioned deployment segment is more reliable, secure and data is not shared with others. However, trend is changing, and the share of cloud is expected to increase as this deployment type offers efficient handling of data. In terms of end-user, BFSI segment accounted for the leading share as financial institutions need to secure their data from insider breaches.

On the basis of geography, behavior analytics market is classified into Asia-Pacific, North America, South America, Europe and Middle East & Africa. North America is expected to continue its dominance during the forecast period backed by high adoption of technology in countries such as US and presence of leading players in the region.

Major companies operating in the behavior analytics market include Splunk Inc., Rapid7 Inc., Varonis Systems Inc., Sqrrl Data Inc., Bay Dynamics, Securonix Inc., LogRhythm, Inc., ObserveIT Inc., Niara Inc., Dtex Systems Inc., among others. Leading market players are increasingly looking into partnerships and acquisitions in order to increase and strengthen their market presence. For instance, Splunk Inc. acquired Streamlio and SignalFx in November and October, 2019, respectively, to boost the development of cloud platform applications.

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of the Global Behavior Analytics Market.
• To forecast the Global Behavior Analytics Market based on component, deployment, end-user and regional distribution.
• To identify drivers and challenges for the Global Behavior Analytics Market.
• To examine competitive developments such as expansions, new launches, mergers & acquisitions etc. in the Global Behavior Analytics Market.
• To identify and analyze the profile of leading players operating in the Global Behavior Analytics Market.

The author performed both primary as well as exhaustive secondary research for this study. Initially, researchers sourced a list of behavior analytics service providers across the globe. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the suppliers which could not be identified due to the limitations of secondary research.

The author calculated the Global Behavior Analytics Market size by using a bottom-up approach, where data for various end-user industries and its application across various product types were recorded and forecast for the future years. researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Application System Providers
• Cloud Service Providers
• IT System Providers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to behavior analytics market
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as solution providers and partners, end-users etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Global Behavior Analytics Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component:

• Software
• Services
• Professional
• Managed

Market, By Deployment:

• On-premise
• Cloud

Market, By End-User:

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Others

Market, By Region:

• North America
• United States
• Mexico
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Europe
• France
• Germany
• United Kingdom
• Spain
• Italy
• Middle East & Africa
• UAE
• South Africa
• Saudi Arabia
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

• Company Profiles: Detailed analysis of the major companies present in the Global Behavior Analytics Market.

Available Customizations:
With the given market data, the author offers customizations according to a customer's specific needs.