March 24, 2020
According to the research report titled ‘Asia Pacific Behavior Analytics Market Size, By Deployment Model, Component, End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, Asia-Pacific behavior analytics market is projected to surpass USD 1.5 billion by the year 2024.
Increased pervasiveness of cybercrimes owing to technological advancements in connectivity infrastructure and rapid incorporation of digitization are major factors driving the growth of behavior analytics market in Asia-Pacific region. Inadequate cyber security regulations along with lack of awareness pertaining to cyber threats have increased the prevalence of cyber-attacks. Rising popularity of mobile & web-based platforms and growing demand to protect such platforms are further aiding the market expansion.
As per component type, solutions segment held 70% market share in 2016 and is presumed to expand consistently during the forecast period. The growth can be attributed to its capability of supporting large data architectures. These solutions can be incorporated with major log integration and SIEM systems. Rising adoption of high quality analytical platforms with intelligent algorithms, such as machine learning & deep learning, to identify inefficiencies is fueling the segmental growth.
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The report states that the healthcare end-user segment is expected to grow by 50% during 2018-2024, primarily due to rising prevalence of cyber-attacks in the healthcare industry. Behavior analytics solutions are deployed in medical institutions to streamline regulation processes as well as to safeguard the patient records.
The prominent vendors of Asia-Pacific behavior analytics industry are Splunk, Gurucul, E8 Security, Exabeam, IBM Corp., Sqrrl Data, Avtex Solution, Bay Dynamics, and McAfee.
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