The global user and entity behavior analytics market is estimated to grow from USD 131.7 Million in 2016 to USD 908.3 Million by 2021, at a CAGR of 47.1% during the forecast period.
The global market is driven by increasing cyber threats posed by insiders in organizations and incapability of traditional security tools to identify such insider threats. Moreover, lack of trained security professionals, who understand the security threats posed by users, is another factor driving the global market as organizations are expected to prefer behavior analytics solutions that rely on machine learning to identity such threats with minimal human intervention.
On the basis of type, the global user and entity behavior analytics market has been segmented into solution and services. Among solutions, the insider threats segment is estimated to account for the largest share in the global market during forecast period. Demand for insider threat solutions is primarily driven by the organizations understanding extreme necessity of preventing breaches from insiders. Among services, the implementation segment is expected to account for the largest share in the global market during the forecast period.
Among deployment types, the on-premises segment is projected to account for the largest share in the global user and entity behavior analytics market during the forecast period as most of the organizations prefer on-premises deployment of solutions. Among verticals, the financial services & insurance segment is expected to account for the largest share in the global market considering organizations related to this industry have extreme need to secure their sensitive data from insider breaches. However, the healthcare segment is projected to grow at the highest CAGR during the forecast period. This increased growth of the healthcare segment can be attributed to growing awareness among organizations about threats posed by insiders and recent cases of high level cyber-attacks.
The North American region is estimated to account for the largest share in the global market during the forecast period, owing to increased usage of user and entity behavior analytics solutions across varied industries in the region. However, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to increasing usage of mobile and web applications in the region and the need for security solutions that are capable to identify threats to data. The user and entity behavior analytics market in the Middle East & Africa and Latin American regions is growing at a comparatively low rate due to lack of awareness among organizations about benefits of user and behavior analytics solutions.
Factors, such as lack of awareness about user-centric approach and low budget allocations for user and behavior analytics solutions hinder growth of the global market. Major players operating in the global market are adopting varied strategies to enhance their market presence. The strategy of new product launches is the most frequently adopted strategy, followed by partnerships, collaborations, and agreements. Companies, such as Securonix (U.S.), Varonis Systems, Inc. (U.S.), and Niara Inc. (U.S.) are developing new products by entering into partnerships to provide fast and productive services. Companies such as Splunk Inc. (U.S.) are following strategy of acquisitions to enhance their product portfolio and strengthen their position in the global user and entity behavior analytics market.
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