March 25, 2020
According to the research report titled ‘North America Behavior Analytics Market Size, By Deployment Model, End-Use, Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, North America behavior analytics market is estimated to surpass USD 2 billion by the year 2024.
Increasing utilization of cloud-based services among small and midsize businesses is a major factor driving the behavior analytics industry in North America. These enterprises are leveraging the abilities of cloud computing owing to its scalability, flexibility, and cost-effectiveness. Increasing incorporation of intelligent algorithms and advanced behavior analytics solutions in order to identify malicious activities is further aiding the market expansion. These solutions help in monitoring the behavior of the user, hence pin-pointing potential vulnerabilities and malicious activities even before they occur.
As per component type, the solutions segment held 70% revenue share in 2016 and will follow a similar growth trend during the study period. Rising adoption of customized solutions integrated with deep learning and machine learning across various industry verticals is fueling the segmental growth.
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The report states that the services segment is presumed to expand with a CAGR of 48% during the estimated timeframe. Growing deployment and integration of behavior analytics services along with shifting focus towards core business capabilities among organizations is favoring the market outlook.
The healthcare as end-use segment is set to record 45% growth rate through 2024, primarily due to rising concerns regarding insider attacks in healthcare establishments.
HPE, McAfee, IBM, Vectra Networks, Logrhythm, Veronis, Rapid7, Dtex Systems, Sqrrl Data Inc., Niara Inc., Gurucul, Exabeam, Securonic Inc., Splunk, Inc., and Bay Dynamics are the prominent companies operating in North America behavior analytics industry.
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