According to a new report, published by KBV research, The Global Behavior Analytics Market size is expected to reach $7.1 billion by 2028, rising at a market growth of 30.5% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 31.1% during (2022 - 2028). This is because there is a greater requirement for enterprises to comprehend and enhance human behavior. Also, due to the increase in fraud instances within banks and financial institutions, these organizations are increasingly using behavior analytics services. Therefore, the segment's growth is expected to be boosted by this.
The On-premise segment is leading the Global Behavior Analytics Market by Deployment Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5 billion by 2028. Compared to cloud-based goods, there is a lower danger of data breaches and cyberattacks. While the solution integrates data from multiple sources, firms with highly sensitive and confidential data do not wish to import it to cloud platforms that merge such data.
The BFSI segment has shown the growth rate of 29.7% during (2022 - 2028). BFSI applications are projected to be one of the market's leading end-user categories due to the increased cybersecurity risk. Banks & insurance businesses are especially vulnerable to cyberattacks since they store highly sensitive data, and any data leak directly results in financial damages. In addition, rising investment in information security by financial institutions is believed to be one of the primary reasons driving the need for these solutions in the BFSI sector.
The North America market dominated the Global Behavior Analytics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.6 billion by 2028. The Europe market is exhibiting a CAGR of 29.9% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 31.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/behavior-analytics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Component
By Deployment Type
By Vertical
By Geography
Companies Profiled
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