The “Global Behavioral Analytics Market Research Report: Forecast (2021-2026)” report has been added to ResearchAndMarkets.com’s offering.
The Global Behavioral Analytics Market is expected to grow at a CAGR of more than 40% during the forecast period, i.e., 2021-26. It owes to the rapid technological advancements in developing a high-tech landscape for the Internet of Things (IoT), coupled with the growing need to strengthen the security system of organizations due to the increasing cases of cyber threats.
Additionally, the rising need to distinguish between genuine customers and fraudsters, particularly across the banking sectors, and prevent potential financial risks also augments the behavioral analytics market globally. Besides, the increasing insider attacks across organizations is another crucial aspect expected to drive the market in the coming years.
Dual Impact of Covid-19 Outbreak on Global Behavioral Analytics Market
- Last year, the Covid-19 pandemic had a decelerating impact on most industries worldwide, where the Global Behavioral Analytics Market observed both negative & positive effects. Initially, the governments across prominent regions of the world had to impose lockdowns & stringent movement limitations to curb the virus spread. Due to this, most organizations had to shut their operations, which declined the demand for behavioral analytics and led to massive revenue losses for the key market players.
- However, when most industries later made a swift shift toward working from home, the market observed a sudden hike. The need to secure data propelled dramatically since working from homes exposes an organization to threats critically, which, in turn, significantly increased the market size.
- Besides, the contagious nature of the Covid-19 virus propelled the requirements for behavior-based technologies like voice recognition & gait analysis, offering accurate solutions to identify people, both in-person & online, while resisting the spread of the virus.
- Furthermore, amidst the pandemic, the demand for behavioral analytics solutions widely progressed across the healthcare sector, too. It gave the market a significant boost and also showed signs of its growth in the years to come.
Market Dynamics:
Surging Number of Unnoticed Cyberattacks to Drive Global Behavioral Analytics Market During 2021-26
Nowadays, it is more crucial for organizations to have security tools that analyze the behavior of users connected to their networks and endpoints to detect anomalies. With the surging number of under-the-radar cyberattacks, it is becoming more challenging to detect & diagnose them and take adequate actions. Hence, the need for behavioral analytics solutions is higher than ever and will surely grow in the years to come.
Possible Challenges
The principal factors that might hamper the Global Behavioral Analytics Market growth are the lack of awareness about the user-centric approach and low budget allocations for behavior analytics solutions. Besides, the incapability of SMEs to store humongous amounts of data for behavioral analytics might also restrain the market from growing significantly in the forecast period.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Impact of COVID-19 on Global Behavioral Analytics Market
4. Global Behavioral Analytics Market Regulations & Policy
5. Global Behavioral Analytics Market Trends & Insights
6. Global Behavioral Analytics Market Dynamics
7. Global Behavioral Analytics Market Hotspots & Opportunities
8. Global Behavioral Analytics Market Outlook, 2016-2026F
9. North America Behavioral Analytics Market Outlook, 2016-2026F
10. South America Behavioral Analytics Market Outlook, 2016-2026F
11. Europe Behavioral Analytics Market Outlook, 2016-2026F
12. Asia-Pacific Behavioral Analytics Market Outlook, 2016-2026F
13. Middle East and Africa Behavioral Analytics Market Outlook, 2016-2026F
14. Global Behavioral Analytics Market Key Strategic Imperatives for Success and Growth
15. Competition Outlook
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- Splunk Inc.
- Varonis Systems Inc.
- Exabeam Inc.
- Niara Inc.
- SAP SE
- Oracle Corporation
- NTT Data Corporation
- Tibco Software Inc.
Check Out The New Martech Cube Podcast. For more such updates, follow us on Google News Martech News