User & Entity Behavior Analytics (UEBA) Market to grow at a CAGR of 48.2%
The User & Entity Behavior Analytics (UEBA) Market was valued US$ 945.8 Mn in 2020, and would grow by more than 48.2% CAGR. User and entity behavior analytics is kind of cybersecurity solution which used to detect & monitor unusual traffic patterns, unauthorized movement & data access, or malicious or suspicious activity on computer network end points.
It helps to identify insider threats, financial fraud, and targeted attacks. It analyzes patterns of human behavior and then apply algorithms and statistical analysis to detect variances.
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According to latest research by Persistence Market Research, user & entity behavior analytics market is set to witness higher growth during 2021-2031. The market will show highest growth in coming years, owing to increasing adoption of cloud computing as a data management tool by organizations across different industries.
Moreover, lack of knowledge about scarcity of trained security professionals and advanced insider threats is expected to restrains the demand for user & entity behavior analytics market.
What is Driving Demand for User & Entity Behavior Analytics Market?
The factors such as creasing adoption of cloud computing as a data management tool by organizations across different industries fuels the growth of the user & entity behavior analytics market. In recent years, the increasing number of insider threats cases impacts on protection of organizational data as well as protection of economic and national data.
Thus need for behavioral analytics solutions for organizations and consumers has been increased. User and entity behavior analytics tools alerts company/organization and able to detect possible insider threats and behavioral pattern. Rising number of cases of insider threat in recent years augments the demand for the user & entity behavior analytics market.
Growing Need for Real-Time Analytics and Adoption of User-Centric Approach is driving the adoption of User & Entity Behavior Analytics Market
User & entity behavior analytics solutions offers various monitoring activities for cloud providers, closed networks, users, wired & smart endpoint devices. UEBA systems provides continuous monitoring and real-time by assessing user activity. In addition COVID-19 impact forced many industries and sectors to work online which results in increasing threat of cyber security.
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Thus need for real-time analytics has increased over the period and therefore the demand for User & entity behavior analytics market increased. By user-centric approach User & entity behavior analytics solutions provides strong technological base for detection of insider risks, targeted attacks, and financial fraud. Therefore Adoption of User-Centric Approach of User & entity behavior analytics solutions propels the demand for the User & entity behavior analytics market.
North America User & Entity Behavior Analytics Market Outlook
North America is anticipated to constitute a highest growth in the user & entity behavior analytics market over the forecasted period. The North America shows significant growth in user & entity behavior analytics market owing to increasing usage of organization and consumer functional analytics solutions.
Increasing need for security solutions which helps to identify the data threats owing to increasing adoption of use of online apps and mobile in the North America region augments the growth of the user & entity behavior analytics market in the North America region.
The increasing development and investments in advanced technology such as cloud, IoT, networking, AI, 5G, data analytics by key vendors in the North America region propels the demand for the user & entity behavior analytics market.
Presence of majority key vendors in the North America region fuels the demand for the user & entity behavior analytics market.
Europe Demand Outlook for User & Entity Behavior Analytics Market
Europe is the second largest contributor to user & entity behavior analytics market and would grow at highest CAGR, owing to technological advancements in 5G, data analytics, cloud, IoT, big data, and advance digitization in the region. France, Germany, Italy, France, and U.K. are the dominating economies in Europe region.
In recent years, the number of mobile apps and web with the increasing need of security solutions to detect data-related threats is increasing. Thus need for UEBA solutions to detect security gaps within protect applications and network infrastructure has been increased over the years.
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Also due to covid-19 pandemic, many industries and sectors forced to work online in developed economy in Europe region. Thus increasing need for strong technological base such as UEBA tools or solutions for detection of insider risks, targeted attacks, and financial fraud fuels the demand for the UEBA market in the Europe region.
The stringent government regulations about healthcare industry and IT industry in major economies such as France, Germany, Italy, United Kingdom, Spain has been one of the major driving factor for the growth of the user & entity behavior analytics market in Europe region.
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