A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “User and Entity Behavior Analytics – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: March 2021
Executive Engagements: 364
Companies: 64 – Players covered include Amazon Web Services, Inc.; Bay Dynamics, Inc.; Dtex Systems Inc.; Exabeam, Inc.; Gurucul; Rapid7 Inc.; Securonix, Inc.; Splunk, Inc.; Varonis Systems, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Solutions, Services); Deployment (On-Premise, Cloud); Vertical (Financial Services & Insurance, Retail & eCommerce, IT & Telecom, Energy & Utilities, Healthcare, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global User and Entity Behavior Analytics Market to Reach $4.2 Billion by 2026
User and Entity Behavior Analytics (UEBA) presents a powerful combination of user behavior analytics, enhanced context from entities and sophisticated analysis to help organizations identify unusual behaviors that may pose risks to business-critical data. Growth in the market is being fueled by rising incidents of data-related threats and frauds. Designed for faster, real-time detection of insider threats, user and entity behavior analytics solutions are integrated with big data platforms for analyzing petabytes and detecting insider or persistent threats. The market growth is propelled by increasing acceptance of behavioral analytics tools across diverse industries coupled with adoption of cloud computing as an effective data management platform. The increasing popularity of user and entity behavior analytics tools is also attributed to their numerous merits including insider threat detection, fraud prevention, protection from data exfiltration attempts, IP data security and actionable risk information. Advanced solutions available on the market use sophisticated analysis, integrate report and log data, and analyze files, packets or other data for detecting cyber-attacks. The machine learning model is anticipated to find broader acceptance to detect anomalies for foiling attempts of cyber attackers to steal data.
Amid the COVID-19 crisis, the global market for User and Entity Behavior Analytics estimated at US$549.6 Million in the year 2020, is projected to reach a revised size of US$4.2 Billion by 2026, growing at a CAGR of 39.2% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 34.7% CAGR to reach US$3.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 47% CAGR for the next 7-year period. This segment currently accounts for a 30.7% share of the global User and Entity Behavior Analytics market. Solutions, the largest segment type, associated with insider threats enable organizations to prevent workers from stealing and misusing critical data. The insider threat segment is benefitting from rising incidents of insider breaches along with inability of traditional security solutions to identify threats.
The U.S. Market is Estimated at $274.8 Million in 2021, While China is Forecast to Reach $778 Million by 2026
The User and Entity Behavior Analytics market in the U.S. is estimated at US$274.8 Million in the year 2021. The country currently accounts for a 33.98% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$778 Million in the year 2026 trailing a CAGR of 49.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 31.9% and 35.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 34.8% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the end of the analysis period. North America region dominates market growth as a result of increasing penetration of these solutions across diverse industry verticals. The regional market is further propelled by increasing proliferation of web and mobile apps along with the requirement of security solutions to detect data-related threats. The Asia-Pacific region is witnessing increasing focus of companies on adoption of analytics solutions to improve security and productivity. Increasing use of web and mobile apps and the resulting data security issues are prompting companies to implement user & entity behavior analytics solutions to detect security gaps within network infrastructure and protect applications. More
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