The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Behavioral Analytics Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Behavioral Analytics Industry Analytical Overview (2023-2028): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Behavioral Analytics Market is valued at USD 1.5 billion in 2023 and is projected to grow at a CAGR of more than 40% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023 to 2028.
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What is Included in Behavioral Analytics Market Segmentation?
The report has segmented the market into the following categories:
By Component
- Solution
- - Compromised Credential Detection Solutions
- - Insider Threat Detection Solutions
- - Loss Prevention Solution
- - Others
- Services
- - Professional Services
- - Managed Services
By Deployment Type
- On-Cloud
- Premise
By Organization Size
- Large Size Organization
- Small & Medium Size Organization
In recent years, large enterprises have increasingly become major players in the market, among others. Their dominance owes principally to the consistent demand for behavioral analytics solutions across various sectors, including banking, retail, healthcare, manufacturing, service, and e-commerce. These sectors possess significant IT budgets and deal with vast customer data, making them highly susceptible to cyber threats. As a result, large enterprises have acknowledged the importance of investing in behavioral analytics solutions to monitor and predict customer behaviors effectively. By adopting this proactive approach, they have gained a substantial market share and positioned themselves as the leading segment in the market.
By Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- IT & Telecommunication
- Manufacturing
- Healthcare
- Retail & E-commerce
- Others (Energy & Utilities, etc.)
By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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Key Factor Driver Behavioral Analytics Industry Growth by 2028
A Swift Surge in Number of Unnoticed Cyberattacks - The market is expected to experience significant growth from 2023 to 2028, primarily driven by the escalating number of unnoticed cyberattacks. In today's digital landscape, organizations recognize the importance of implementing security tools that analyze user behavior within their networks and endpoints to identify anomalies. However, the mounting prevalence of under-the-radar cyber threats presents a considerable challenge in effectively detecting, diagnosing, and responding to these attacks.
Who are the Key Players Operating in the Behavioral Analytics Industry?
The top companies of the Behavioral Analytics market ruling the industry are:
- IBM Corporation
- Microsoft Corporation
- Splunk Inc.
- Varonis Systems Inc.
- Exabeam Inc.
- Niara Inc.
- SAP SE
- Oracle Corporation
- NTT Data Corporation
- Tibco Software Inc.
- Others
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FAQs (Frequently Ask Questions)
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