The global user and entity behavior analytics market accounted for USD 460.1 Million in 2020 and is expected to reach USD 7,570.5 Million by 2028, growing at a CAGR of more than 42.3% from 2021 to 2028.
User and Entity Behavior Analytics Market
The Global User and Entity Behavior Analytics Market accounted for USD 460.1 Million in 2020 and 570.5 Million by 2028, growing at a CAGR of more than 42.3% from 2021 to 2028.
UEBA (User and Entity Behavior Analytics), is a kind of cyber security process which take notes of the normal pattern of a user. It detects any anomalous pattern or instance when there are variations from the “normal” instances. For instance, if a user downloads 15 MB of files every day but unexpectedly downloads terabytes of files, the system will detect this anomaly and will immediately alert them.
The outbreak of COVID-19 will impact has forced many sectors to operate online which increases the threat of cyber security and hence increases the demand for UEBA. The growth in this market is expected to boom in the coming years due to a growing digital presence.
The demand for UEBA is anticipated to rise at a quick rate due to increasing volume of a huge investment in threat prevention technologies and data breaches. With the increasing demand for advanced technology and solution for security, entities are investing heavily in threat/attack detection analytical solutions to uncover security risks that criminals may exploit, this is growing the demand for the UEBA solutions market. This solution helps entities covering data exfiltration, security management, insider threats, and identity & access management. The factors restraining the growth of the UEBA market include lack of knowledge regarding advanced insider threats and scarcity of trained security professionals.
UEBA is coming out as a promising solution to extensive cyber fraud and threats. These solution vendors have concentrated on assuring that packaged analytics and algorithms are robust, along with improving framework systems.
The on-premise segment held a share of around 30% in 2020. Business operations in On-premise are carried out on the server of the user’s company’s site with a server. In recent years, companies have shifted from on-premise to cloud deployment as it can highly support and scale unlimited cameras and it also provides real-time data to ensure you have knowledge of ongoing activities. Introducing User and entity behavior analytics into your environment broadens your safety perimeter which includes monitoring activities for cloud providers, closed networks, users, and endpoint devices that are wired and smart.
The financial services & insurance segment is projected to grow at a CAGR of over 35% from 2021 to 2028. The rising number of clients in the insurance & banking and finance sector is growing the risk of cyber-crimes and thus, the UEBA is mainly used by these sectors as it allows users to have easy access to deposit and payments services; this also manages the threats at the same as it informs about the fraudulent transaction.
North America accounted for a share of around 40% in 2020. Enterprises and governments in majorly the U.S. and Canada have invested heavily in the deployment of user and entity behavior analytics systems. Rapid technological development and a developed economy are helping the growth in this market.
Asia Pacific is projected to grow at a CAGR of over 42% during the forecast period. Countries like China and India are investing in security surveillance systems for the safety of the residents. The Middle East and Africa are actively improving their surveillance systems and are expected to grow in the future due to large funding by the government into technologies such as AI, 5G, cloud, IoT, networking, and others.
Some of the key players in the user and entity behavior analytics market are Bay Dynamics, Exabeam, Inc., Dtex Systems, Gurucul, Niara, Inc., Securonix, Rapid7, Splunk, Inc., Varonis Systems, Inc., and Sqrrl Data, Inc., among others.
The global user and entity behavior analytics market is segmented as follows:
The global user and entity behavior analytics market was valued at USD 460.1 Million in 2020.
The global user and entity behavior analytics market is expected to reach USD 7,570.5 Million by 2028, growing at a CAGR of 42.3% between 2021 to 2028.
Some of the key factors driving the global user and entity behavior analytics market growth are heavy investment of public and private corporations in video surveillance systems, awareness of benefits from real time surveillance videos.
North America region held a substantial share of the user and entity behavior analytics market in 2020.The U.S. government is investing heavily in the technology. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for user and entity behavior analytics in developing economies such as China and India.
Some of key players in user and entity behavior analytics market are Bay Dynamics, Dtex Systems, Exabeam, Inc., Gurucul, Niara, Inc., Rapid7, Securonix, Splunk, Inc., Sqrrl Data, Inc., and Varonis Systems, Inc., among others.