In a recent published report, Kenneth Research has updated the market report for User and Entity Behavior Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for User and Entity Behavior Analytics Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market synopsis
Global User and Entity Behavior Analytics market is expected to grow from USD 145.37 million in 2017 to USD 1,178.19 million by 2023, at a CAGR of 41.73% during the forecast period.User and entity behavior analytic is a cyber-security process that is used to record patterns of human behavior and use machine learning, algorithms, and statistical analyses to detect anomalous behavior. It aggregates the data in reports and logs, file, flow, and packet information. Rather than tracking security events or monitor devices; user and entity behavior analytics keep track of the users and entities within the system. User and entity behavior analytics enable quicker detection by using algorithms to detect insider threats based on user behavior variances. It is used to identify potential threats, financial fraud and targeted attacks.
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User and entity behavior analytics market, by deployment type is bifurcated into on-premise and cloud. Currently, on-premise deployment of user and entity behavior analytics is more popular among enterprises as data can be integrated from various sources irrespective of data sensitivity. However, the cloud-based deployment of user and entity behavior analytics is expected to increase during the forecast period enterprise get aware about the security measures enabled by related tools while handling of sensitive data.
Growing need for threat prevention technologies, increasing demand of real-time analytics, and lack of trained security professionals are some of the factors boosting the growth of user and entity behavior analytics market. However, lack of information about advanced insider threats and low IT budget allocations for user and behavior analytics solutions hinder the growth of this market. Although, growing awareness about user-centric approach among enterprises offer opportunities for market growth during the forecast period.
The key players operating in the user and entity behavior analytics market are Splunk Inc. (US), Microsoft Corporation (US), Varonis Systems, Inc. (US), Exabeam, Inc. (US), Observe IT (Israel), Niara Inc. (US), Sqrrl Data, Inc. (US), Bottomline Technologies, Inc. (U.S.), and Rapid7 (US). These players are largely investing in inorganic growth startegies strengthen their position in the global user and entity behavior analytics market. For instance, in 2018, One Indentity LLC. acquired Balabit Corporation, a provider of privileged access management, privileged account analytics, privileged session management, and log management technology. This new acquisition will help company further expand its set of privileged access management tools.
User and Entity Behavior Analytics Market Research Report – Global Forecast till 2023 -Report image 00
Segmentation
User and entity behavior analytics market is segmented based on type, deployment type, vertical and region.
Based on the type, the market is bifurcated into solution and services.
By deployment type, the market is segmented into on-premises and cloud.
On the basis of vertical, the market is segmented into BFSI, government, healthcare, IT and telecommunication, energy & uitlity, retail, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.
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Regional analysis
The global market for user and entity behavior analytics is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of user and entity behavior analytics market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America followed by Europe is expected to dominate the user and entity behavior analytics market from 2018 to 2023 as these regions are witnessing growing usage of user and entity behavior analytics solutions across varied industries. However, Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to the increasing usage of mobile and web applications in the region that has subsequently increased the need for security solutions that are capable to identify threats to data.
Competitive Analysis
The user and entity behavior analytics market has witnessed the high adoption rate by large organisation across the world. Key players adopting in the market are adopting various growth strategies to enhance their global presence. However, new product launches followed by partnerships and collaborations is the most frequently adopted startegy to enhance their product portfolio and strengthen their market position.
Key players
The prominent players in the user and entity behavior analytics market are major vendors such as Splunk Inc. (US), Microsoft Corporation (US), Varonis Systems, Inc. (US), Exabeam, Inc. (US), Observe IT (Israel), Niara Inc. (US), Sqrrl Data, Inc. (US), Bottomline Technologies, Inc. (U.S.), and Rapid7 (US). The other key innovators in the market are Securonix (US), Bay Dynamics (US), Gurucul (US), and Dtex Systems (US).
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Intended Audience
Application System Providers
Third-Party Hosts
IT System Providers
Application Designers and Software Developers
Information Security Directors/Managers
IT Compliance Directors/Managers
IT Audit Director/Managers IT Directors/Consultants
Chief Compliance Officers
Technology Consultants
Communications Service Providers
Managed Service Providers (MSPs)
Universities and research organizations
Government bodies
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