The global user & entity behavior analytics market is predicted to touch USD 1,178.9 million at a 41.73% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. User and entity behavior analytics, simply put, is a process for identifying targeted attacks, financial fraud, and insider threats. It is used for analyzing human behavior patterns and applying algorithms and statistical analysis for detecting variances. It has wide applications in retail, energy and utility, IT and telecommunication, healthcare, government, BFSI, and others. Services and solutions are the different types of user and entity behavior analytics, and cloud and on-premises are its different deployment types.
Various factors are propelling the global user and entity behavior analytics market share. According to the recent MRFR report, such factors include the growing adoption of user-centric approach, surging need to stop insider threats that is posed by users, the growing need for real-time analytics, major progress in data analysis techniques and machine learning technology, growing need for real-time analytics by different organizations.
On the contrary, low budget allocations, lack of awareness, poor knowledge, lack of trained security experts, and the on-going COVID-19 pandemic are factors that may limit the global user and entity behavior analytics market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global user and entity behavior analytics market based on type, deployment type, and vertical.
By type, the global user and entity behavior analytics market is segmented into services and solutions. Of these, the solution type segment will lead the market over the forecast period.
By deployment type, the global user and entity behavior analytics market is segmented into cloud and on-premises. Of these, the on-premises deployment type segment will dominate the market over the forecast period.
By vertical, the global user and entity behavior analytics market is segmented into retail, energy and utility, IT and telecommunication, healthcare, government, BFSI, and others.
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Based on the region, the global user and entity behavior analytics (UEBA) market, report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Growing usage of UEBA in different industries, increased use of web and mobile applications, the need for security solutions that can detect data threats, increasing investments in R&D, and a strong technology base in the US, Canada, and Mexico, are adding to the global user and entity behavior analytics market growth in the region.
The global user & entity behavior analytics market in the APAC region is predicted to have healthy growth over the forecast period. The increasing use of web & mobile applications, coupled with the need for security solutions that can identify data threats are adding to the global user and entity behavior analytics market growth in the region.
The global user & entity behavior analytics market in Europe is predicted to have sound growth over the forecast period.
The global user & entity behavior analytics market in the Rest of the World is predicted to have steady growth in the forecast period for the lack of awareness about the benefits of these solutions among organizations.
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Leading contenders profiled in the global UEBA market report include Dtex Systems (US), Gurucul (US), Bay Dynamics (US), Securonix (US), Rapid7 (US), Bottomline Technologies, Inc. (U.S.), Sqrrl Data, Inc. (US), Niara Inc. (US), Observe IT (Israel), Exabeam, Inc. (US), Varonis Systems, Inc. (US), Microsoft Corporation (US), and Splunk Inc. (US). Industry players have incorporated several strategies to stay at the forefront, such as mergers, product launches, acquisitions, and others.
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