March 24, 2020
As per the report titled ‘Europe Behavior Analytics Market Size, By Deployment Model, Component, End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, Europe behavior analytics market is projected to cross USD 1.2 billion by the year 2024.
Rising incidences of insider attacks across various industries is driving the growth of behavior analytics market in Europe. Widespread adoption of BYOD policy among enterprises has escalated the number the breaches which is urging businesses in the region to upgrade their security infrastructures and incorporate latest security solutions such as behavior analytics in their networks. Real-time analysis of security inefficiencies and detection of potential threats are the major features encouraging the adoption of behavior analytics.
Based on component, solutions segment accounted for 72% revenue share in 2016 and is expected to grow considerably during the forecast period. Growing preference for dynamic data coupled with several product benefits such as reduction of manual labor and lower alert time are driving the segment growth. Moreover, behavior analytics solutions reduce the number of false alerts through enhanced investigative procedures and integration of various security solutions.
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Speaking of the end-user spectrum, Europe behavior analytics market from retail segment is expected to see a growth rate of 44% during the forecast period. Behavior analytics identifies potential sources of data exfiltration and atypical movement of IP before it exits the system. These solutions enable transparency and offer a thorough investigation with advanced analytic algorithms to identify specific behavioral risks, which is favoring its adoption across the retail sector.
Prominent players of Europe behavior analytics industry are Acework, Lifecycle Management, Lastline, Lumeta, LogRhythm, SecBI, Immune System, Exabeam, Awake Security, Darktrace Enterprise, Aruba, Arctic Wolf Networks, and Antigena.
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