Dublin, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The "Behavior Analytics Market by Solutions (User and Entity Behavior, A/B Testing, Heatmap, Feedback & Voice of Customer), Application (Customer Engagement, Brand Promotion, Workforce Optimization, Threat Detection & Prevention) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The behavior analytics market is estimated at USD 5.5 billion in 2024 to USD 13.4 billion by 2029, at a Compound Annual Growth Rate (CAGR) of 19.5%
The report will help the market leaders/new entrants with information on the closest approximations of the global behavior analytics market's revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
Behavior analytics enhances access to actionable insights by processing in a timely manner user and entity behaviors to help organizations understand and get a lead time to forestall potential issues. They help organizations detect security threats earlier by detecting unusual patterns and spotting potential risks before they cause any harm.
Secondly, behavior analytics helps businesses personalize customer experiences by knowledge of individual preferences and behaviors, optimizing operations through process streamlining in the light of behavior-based data, and having informed decisions backed by data to drive better business performance and customer satisfaction.
By offering, solutions are expected to have the largest market size during the forecast period.
The solutions segment will dominate the market in terms of size during the forecast period since it provides organizations with core functionality to analyze and act upon behavior data. These solutions offer comprehensive tools for collecting, processing, and analyzing huge amounts of data from multiple sources, enabling businesses to detect patterns and anomalies and make informed decisions.
With increasing sophisticated cyber threats and ever-growing demand for a bespoke experience for customers, the deployment of advanced behavior analytics solutions has become of greater priority to organizations aiming at improving their stance against such challenges. At the heart of security enhancement, improvement in customer engagement, and business process optimization are these very solutions. Also, these solutions are quite flexible - thus, with the possibility to adjust and scale, they turn into highly critical investments for any business looking to remain competitive in this very data-driven world.
By application, threat detection and prevention is expected to hold a higher growth rate during the forecast period.
The rise in the demand for threat detection and prevention is due to the fact that cyber threats are becoming more complicated and common, negatively affecting almost every industry. Traditional security measures are no match for the sophisticated techniques used by cybercriminals. Therefore, a greater reliance is placed on behavior analytics in detecting and preventing threats, as it has more developed ways of noticing unusual patterns that can be a case of security breaches in real time.
Behavioral analytics allows organizations to monitor the behaviors of users and entities proactively. This will pick up on threats emerging from within your organization, including compromised accounts, even before they occur. These are machine learning and artificial intelligence solutions based on new data and, therefore, learn by themselves to improve the accuracy of detecting new and unknown threats. The enhanced need for the security of sensitive information through safeguarding, regulatory compliance, and protection of organizational assets increases demand in this crucial area for behavioral analytics in threat detection and prevention.
North America is estimated to have the largest market share during the forecast period.
North America is expected to be the largest market during the forecast period. A few factors have placed this region in the lead in the adoption of behavior analytics: a huge number of leading-edge technology companies, financial institutions, and an actually large number of enterprises placing emphasis on cybersecurity and data-driven management. These are exactly the kinds of entities that can quickly adopt bleeding-edge technologies like behavior analytics that will allow them to assure themselves better and, by the same token, enhance their overall operating performance.
Stiff data protection legislation and compliance requirements with the provisions, coupled with a robust regulatory framework in North America, drive demand for solutions to behavior analytics for compliance and the protection of sensitive information. This is further supported by an already existing mature IT infrastructure and a well-established digital ecosystem that will further drive the broad adoption of behavior analytics across various industries. Also, with cyber threats being on the rise in the region and with dependence on digital platforms, the importance of behavior analytics as an effectual tool in threat detection and prevention has increased. All these factors combine to make North America the largest market for behavior analytics.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.5 Billion |
| Forecasted Market Value (USD) by 2029 | $13.4 Billion |
| Compound Annual Growth Rate | 19.5% |
| Regions Covered | Global |
Case Study Analysis
- Large Government Agency Enhanced Threat Response with Arcsight Suite
- Super.com Improved Customer Retention by 90% Using Amplitude Experiment
- Credo Used Hotjar Heatmaps and Recordings to Increase Revenue by 220%
- Metrohealth Enhanced Employee Engagement and Alignment Using Perceptyx People Insights Solution
- Servicenow Enhanced Customer Experience Using Qualtrics Xm Solution
Market Overview and Industry Trends
Drivers
- Optimizing Marketing Strategies
- Enhancing Product Development
- Predicting Future Trends
Restraints
- Data Privacy Concerns
- Technical Expertise
- Data Quality and Accuracy
Opportunities
- Enhancing Customer Retention
- Fraud Detection and Prevention
- Targeted Content Delivery
Challenges
- Contextual Understanding
- Behavioral Noise
- Scalability Issues
Current and Emerging Business Models
- Freemium Model
- Pay-As-You-Go Model
- Annual Subscription Model
- Enterprise Licensing Model
Pricing Analysis
- Average Pricing Analysis, by Solution
- Indicative Pricing Analysis, by Subscription
Technology Analysis
- Key Technologies
- Machine Learning (ML)
- Artificial Intelligence (AI)
- Big Data Analytics
- Complementary Technologies
- Internet of Things (IoT)
- Cloud Computing
- Data Integration Tools
- Adjacent Technologies
- Customer Relationship Management (Crm)
- User Experience (Ux) Design
- Cybersecurity
Regulatory Landscape
- Regulatory Bodies, Government Agencies, and Other Organizations
- General Data Protection Regulation (Gdpr) - European Union
- Federal Trade Commission (Ftc) - US
- International Association of Privacy Professionals (Iapp)
Technology Roadmap for Behavior Analytics Market
- Short-Term Roadmap (2023-2025)
- Mid-Term Roadmap (2026-2028)
- Long-Term Roadmap (2029-2030)
Porter's Five Forces Analysis
Best Practices in Behavior Analytics Market
- Define Clear Objectives
- Ensure Data Quality
- Implement Privacy and Compliance Measures
- Leverage Advanced Analytics Tools
- Focus on Actionable Insights
Impact of Generative AI on Behavior Analytics
- Top Use Cases and Market Potential
- Key Use Cases
- Best Practices
- Healthcare
- Manufacturing
- Energy
- Case Studies of Generative AI Implementation
- Global Retail Giant Enhances Customer Experience
- Major Healthcare Provider Transforms Patient Care
- Client Readiness and Impact Assessment
- Client A: Prominent Retailer
- Client B: Leading Healthcare Organization
- Client C: Major Manufacturing Enterprise
- Client D: Prominent Energy Provider
Companies Featured
- Qualtrics
- Opentext
- Microsoft
- Cisco Systems, Inc.
- IBM
- Zoho Corporation
- Oracle
- Varonis Systems, Inc.
- Fortinet, Inc.
- Securonix
- Teradata
- Adobe
- Sas Institute
- Qlik
- 84.51
- Contentsquare
- Exabeam
- Clevertap
- Dtex Systems
- Mouseflow
- Gurucul
- Netspring
- Visier, Inc.
- Teramind
- Splashbi
- Amplitude
- Prohance
For more information about this report visit https://www.researchandmarkets.com/r/smu0pd
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
