Behavioral Analytics Market Poised for Robust Growth, forecasted to Expand at 40% CAGR from 2023-28

MarkNtel Advisors has released its latest report highlighting strong growth in The Global 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.

Report Coverage

This report offers a comprehensive analysis of the Behavioral Analytics Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2022
• Forecast Years: 2023-28
• Historical Years: 2018-21

Behavioral Analytics Market Overview

Such soaring growth can be predominantly attributed 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.

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Behavioral Analytics Market Segmentation Outlook

The Behavioral Analytics is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

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

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

Behavioral Analytics Market Challenges

Lack of Awareness Surrounding the User-Centric Approach to Behavioral Analytics - Despite the promising growth prospects for the Global Behavioral Analytics Market, several key factors pose potential obstacles to its expansion. One such factor is the lack of awareness surrounding the user-centric approach to behavioral analytics. Many organizations still need to familiarize themselves with the benefits of analyzing user behavior to gain valuable insights. Additionally, low budget allocations for behavior analytics solutions can impede market growth as organizations may prioritize other investment areas.

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Top Behavioral Analytics Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies IBM Corporation, Microsoft Corporation, Splunk Inc., Varonis Systems Inc., Exabeam Inc., Niara Inc., SAP SE, Oracle Corporation, NTT Data Corporation, Tibco Software Inc., Others as key players shaping the market landscape.

Behavioral Analytics Market News

• In April 2023, UserTesting, a prominent player in experience research and insights, introduced product enhancements to their UserTesting Human Insight Platform. The updated platform incorporates machine learning advancements, swiftly empowering businesses to obtain deeper insights into their customers. These enhancements enable companies to grasp the context for effectively comprehending and meeting user needs.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2028?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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Other Report-

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