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Behavior Analytics Market Growth Outlook : Bottomline Technologies, Exabeam, Hewlett Packard Enterprise, IBM, McAfee, LogRhythm, Securonix, Splunk, Varonis, Vectra AI

Insider attacks among enterprises throughout the world is projected to be one of the major factors responsible for the growth of global behavior analytics market

 

Ocean View, DE -- (SBWIRE) -- 04/16/2020 -- The behavior analytics market is projected to witness exponential growth by 2024. Behavior analytics can be defined as a cyber security tool which is used for insider threat detection, identifying vulnerabilities and other malicious activities.

This tool leverages an integration of advanced analytics techniques like artificial intelligence and machine learning algorithms, and basic analysis methods like statistics and pattern matching for detection of potential threats that are presented by malicious and anomalous behaviors and activities of entities and users.

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To safeguard themselves form the growing threat of cyberattacks, a number of industries are increasingly adopting behavior analytics tools, thereby providing a substantial boost to the global behavior analytics market share.

Insider attacks among enterprises throughout the world is projected to be one of the major factors responsible for the growth of global behavior analytics market. There has been a significant rise in the number of insider attack incidences across organizations since the last five years.

As per a report published by IBM cybersecurity index, insiders were responsible for about 55 percent of the total cyber-attacks carried out in the United States. This number emphasizes the increasing risk of insider attacks within an organization and the need to prevent them.

Furthermore, besides the threat of insider attacks, increasing technological developments in the field of behavior analytics solution like integration of machine learning algorithms and advanced analytics coupled with the documented shortage of the security professionals within the organizations are also expected to be the key factors making significant contributions towards the global behavior analytics market outlook.

North America dominates the global behavior analytics market due to the presence of some key players like IBM and Spunk in the region. Additionally, rise in the number of mobile phone and applications coupled with the high rate of internet penetration are also projected to significantly drive the industry growth in the region.

Furthermore, the market should also witness exponential growth owing to the increasing implementation of behavior analytics solutions across the healthcare organizations in the region, creating a promising outlook towards industry expansion.

Some major vendors working in the global behavior analytics market are Bottomline Technologies, Exabeam, Hewlett Packard Enterprise, IBM, McAfee, LogRhythm, Securonix, Splunk, Varonis, Vectra AI. The market landscape is characterized by the presence of behavior analytics solution as a feature provider, cloud provider, standalone solution providers, and service provider as well as standalone solution providers.

It would need to be taken note of, that adopting behavior analytics is not the only solution to combat insider threats. While some experts endorse this pointer as a major restraint for behavior analytics industry, the opponents of the theory claim that integrating UBA with security tools such as DLP would be an ideal solution to eliminate the constraint. In addition, these experts state that while developing UBA tools, behavior analytics market giants must bear in mind, that UBA platforms must be designed to function in a lot more ways that merely detecting unusual behavior.

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For instance, it has been observed that when integrated with DLP, UBA automatically adds detailed user data to DLP investigations in a bid to categorize responses based on priority, which may prove to be a godsend for DLP analysts. The effort put in by organizations to develop such integrated tools that can streamline and prioritize detection processes would massively drive behavior analytics market, slated to cross a valuation of USD 3.5 billion by 2024.

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