DELRAY
BEACH, Fla., Sept. 11,
2024 /PRNewswire/ -- The Behavior
Analytics Market is expected to reach USD 13.4 billion by 2029 from USD 5.5 billion in 2024, at a Compound Annual
Growth Rate (CAGR) of 19.5% during the forecast period, according
to a new report by MarketsandMarkets™.
Browse in-depth TOC on "Behavior Analytics
Market"
250 – Tables
50 - Figures
300 – Pages
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=106193738
Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019–2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD)
Billion
|
Segments
covered
|
By Offering (Solutions
and Services), Type (Customer Centric, Employee Centric),
Application (Customer Engagement, Brand Promotion, Workforce
Optimization, Threat Detection & Prevention, and Other
Applications), Vertical (BFSI, Retail & eCommerce, Telecom, IT
& ITES, Media & Entertainment, Healthcare, Government &
Defense, Travel & Hospitality, and Other Verticals)
|
Region
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, and Latin
America
|
Companies
covered
|
Qualtrics (US),
OpenText (Canada), Microsoft (US), Cisco Systems, Inc. (US), IBM
(US), Zoho Corporation (India), Oracle (US), Varonis Systems, Inc.
(US), Fortinet, Inc. (US), Securonix (US), Teradata (US), Google
(US), Adobe (US), SAS Institute (US), Qlik (US), 84.51˚ (US),
Contentsquare (France), Exabeam (US), Clevertap (US), Dtex Systems
(US), Mouseflow (US), Gurucul (US), Netspring (US), Visier, Inc.
(Canada), Teramind (US), SplashBI (US), Amplitude (US), and
Prohance (India)
|
Behavior analytics is a surging functionality that has immense
significance in the betterment of cybersecurity and operational
efficiency. It empowers organizations to identify the anomaly,
insider threat, and probable fraud by harnessing the
power of user and entity behavior analytics. Similarly, as business
enterprises gradually adopt higher-level technology Al and machine
learning behavior analytics solutions also increase in terms of
accuracy and adaptability. This allows the maturing of security
postures, reduction of operational risks, and the making of
data-driven decisions in pacing up to the threats that are rapidly
morphing. The market is segmented on the basis of offering, type,
application, and vertical. Offering includes solutions like user
and entity behavior, A/B testing, Feedback and voice of the
customer (VOC), Heatmap among other solutions like session replay,
website conversion optimization. This further can be divided into
customer-centric and employee-centric. Applications in this segment
involve customer engagement, brand promotion, workforce
optimization, threat detection, and prevention applications, many
more of which get further categorized into applications like
personalized recommendations, product development, and compliance
management. The verticals segment includes BFSI, Retail &
Ecommerce, Telecom, IT & ITES, Media & Entertainment,
Healthcare, Government & Defense, Travel & Hospitality, and
Other verticals, which include Transportation & Logistics and
Energy & Utilities. These together provide a composite, deep
view into the evolving landscape of behavioral analytics and its
likely business implications.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=106193738
Based on application, customer engagement segment to hold the
largest market size during the forecast period.
Customer engagement would have the largest market size during
the forecast period, owing to the fact that this segment
potentially might register high growth by enhancing and
personalizing customer interactions. Enterprises are leveraging
behavior analytics to develop rich insights into customer
preferences, purchasing habits, and interaction patterns. It
therefore allows business organizations to come up with highly
targeted marketing strategies, to base most of their offerings on
the needs of customers, and to improve the quality of service. On
the other hand, this better satisfies and creates more loyalty
among customers, which again turns into more efficient strategies
of customer engagement and retention. Coupled with this, the
delivery of customized experiences that would be carried out in a
way that would give a differentiating edge over their peers,
especially with regard to closer ties with customers, has increased
demand for behavior analytics solutions in the customer engagement
space.
Based on offering, the service segment is expected to hold a
higher growth rate during the forecast period.
The service segment is bound to grow at a higher rate in the
forecast period, as more demand arises for support and expertise to
deploy and manage behavior analytics solutions. In contrast to
product-based offerings, services are comprehensive in nature,
where implementation and customization, continuous support would be
required to use such behaviour analytics tools to their full
functionality by organizations. Consequently, the business starts
striving to adopt these solutions in their existing system and
optimally tunes them for its needs; therefore, increasing demand
for professional consulting, training, and technical support. On
the whole, behavior analytics solutions are complex in nature and
require special kinds of knowledge and are always in a phase of
maintenance in order to fight off threats and problems of
businesses.
Inquire Before Buying@
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=106193738
Asia Pacific is expected to
hold a higher growth rate during the forecast period.
The factors that may drive the market growth rate higher in this
region during the forecast period include the rapid digital
transformation in Asia-Pacific and
increasing adoption of advanced technologies, including cloud
computing, Al, and machine learning, which are part and parcel of
behavior analytics solutions. As companies in the region look
toward improving cybersecurity and gaining better insights into
user behavior, demand is high, surging for tools that can provide
behavior analytics. This coupled with the rise in cyber threats and
data breaches has called for organizations. As such, they tend to
incur more expenditures for better analytics solutions while
securing their assets. Again, the rising middle-class populations,
together with growing technology start-ups and established firms,
create the demand for behavior analytics to achieve operational
efficiency and consumer engagement. In this regard, the mix of
technological growth, heightened security concerns, and growing
digital economy acts as the underpinning for the higher growth rate
in the Behavior Analytics Market of APAC.
Top Key Companies in Behavior Analytics Market:
The major vendors covered in the Behavior Analytics Market are
Qualtrics (US), OpenText (Canada),
Microsoft. (US), Cisco Systems, Inc. (US), IBM (US), Zoho
Corporation (India), Oracle (US),
Varonis Systems, Inc. (US), Fortinet, Inc. (US), Securonix (US),
Teradata (US), Google (US), Adobe (US), SAS Institute (US), Qlik
(US), 84.51° (US), Contentsquare (France), Exabeam (US), Clevertap (US), Dtex
Systems (US), Mouseflow (US), Gurucul (US), Netspring (US), Visier,
Inc. (Canada), Teramind (US),
SplashBI (US), Amplitude (US), Prohance (India). These players have adopted various
growth strategies, such as partnerships, agreements and
collaborations, new product launches, enhancements, and
acquisitions to expand their footprint in the Behavior Analytics
Market.
Browse Adjacent Markets: Analytics
Market Research Reports & Consulting
Related Reports:
Streaming Analytics Market- Global Forecast to
2029
Virtual Data Room Market - Global Forecast to
2029
Customer Data Platform Market- Global Forecast to
2028
Process Mining Market- Global Forecast to 2028
Data Pipeline Tools Market- Global Forecast to
2027
Get access to the latest updates on Behavior Analytics
Companies and Behavior Analytics Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL
33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/behavior-analytics-market-worth-13-4-billion-by-2029--exclusive-report-by-marketsandmarkets-302244844.html
SOURCE MarketsandMarkets