The Latin America, Middle East and Africa Behavior Analytics Market would witness market growth of 34.5% CAGR during the forecast period (2022-2028).
Behavioral analytics can aid in identifying compromised data by identifying suspiciously out-of-character behavior. This can enable near-real-time detection of security breaches and help determine where and how they happen. Typically, e-commerce, content management, and digital experience platforms contain functionality to assist behavioral analytics. For example, customer data platforms centralize information about consumers and their actions while offering interfaces to make decisions on marketing automation channels, advertising systems, e-commerce, and other platforms.
Companies may also consider data analytics, analytics process automation, and machine learning platforms to consolidate behavioral data and develop behavioral analytics capabilities. In addition, IoT, voice-enabled devices, augmented reality/virtual reality, wearables, and cameras with computer vision capabilities are novel inputs and data sources for behavioral data collection.
Online shoppers in the UAE made 58% of their purchases from international merchants due to their trust in gateway security and the availability of free and dependable shipping solutions. Online shopping behavior is influenced by product and brand reviews on social media platforms. With this expanding retail and e-commerce sector, the need for behavior analytics arises to identify the patterns and demands of consumers, which may help the providers to serve them more efficiently as per the consumers' needs. This could hold them from increasing the revenues of businesses. In light of this, with the growing e-commerce & retail sector, the behavior analytics market is also predicted to grow in the region.
The Brazil market dominated the LAMEA Behavior Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $132.4 million by 2028. The Argentina market is experiencing a CAGR of 35.2% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 34.1% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Retail & E-commerce, BFSI, IT & Telecom, Energy & Utilities, Healthcare, Government & Defense and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Behavior Analytics Market is Projected to reach USD 7.1 Billion by 2028, at a CAGR of 30.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Splunk, Inc., IBM Corporation, Microsoft Corporation, NTT Data Corporation, Oracle Corporation, SAP SE, Tibco Software, Inc. (Vista Equity Partners), Varonis Systems, Inc., Cynet Security, and LogRhythm, Inc.
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