Global Behavioral Analytics Market Insights by Emerging Trends, Leading Key Players, Future Growth and Revenue, Demand and Revenue Forecast (2021-2026)

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The Global Behavioral Analytics Market is expected to grow at a CAGR of more than 40% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. It owes to the rapid technological advancements in developing a high-tech landscape for the Internet of Things (IoT), coupled with the growing need to strengthen the security system of organizations due to the increasing cases of cyber threats.

Additionally, the rising need to distinguish between genuine customers and fraudsters, particularly across the banking sectors, and prevent potential financial risks also augments the behavioral analytics market globally. Besides, the increasing insider attacks across organizations is another crucial aspect expected to drive the market in the coming years, further states the research report, “Global Behavioral Analytics Market Analysis, 2021.”

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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Behavioral Analytics Market Insights by Emerging Trends, Leading Key Players, Future Growth and Revenue, Demand and Revenue Forecast (2021-2026)

Dual Impact of Covid-19 Outbreak on Global Behavioral Analytics Market
• Last year, the Covid-19 pandemic had a decelerating impact on most industries worldwide, where the Global Behavioral Analytics Market observed both negative & positive effects.
• Initially, the governments across prominent regions of the world had to impose lockdowns & stringent movement limitations to curb the virus spread. Due to this, most organizations had to shut their operations, which declined the demand for behavioral analytics and led to massive revenue losses for the key market players.
• However, when most industries later made a swift shift toward working from home, the market observed a sudden hike. The need to secure data propelled dramatically since working from homes exposes an organization to threats critically, which, in turn, significantly increased the market size.

These sectors have massive IT budgets and possess extensive customer data, making them more prone to cyber threats. Hence, large enterprises substantially & consistently buying these solutions to monitor & predict customer behaviors led them to attain a sizable market share in recent years.

Surging Number of Unnoticed Cyberattacks to Drive Global Behavioral Analytics Market During 2021-26
Nowadays, it is more crucial for organizations to have security tools that analyze the behavior of users connected to their networks and endpoints to detect anomalies. With the surging number of under-the-radar cyberattacks, it is becoming more challenging to detect & diagnose them and take adequate actions. Hence, the need for behavioral analytics solutions is higher than ever and will surely grow in the years to come.

Possible Challenges
The principal factors that might hamper the Global Behavioral Analytics Market growth are the lack of awareness about the user-centric approach and low budget allocations for behavior analytics solutions. Besides, the incapability of SMEs to store humongous amounts of data for behavioral analytics might also restrain the market from growing significantly in the forecast period.

North America is the largest regional spender on IT services with substantial adoption of cloud platforms. Approximately 50% of companies in North America have partially migrated to cloud deployment, which is another crucial factor that shall boost the market in the region.
In the region, the US dominates the demand for behavioral analytics solutions. It owes to the preemptive adoption of advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), advanced predictive analytics solutions, etc., to enhance customer experiences & eliminate suspicious activities using these solutions.
Additionally, the rising number of behavioral analytics start-ups in the region, coupled with strategic partnerships & acquisitions, shall also create lucrative opportunities for the key market players in North America during 2021-26.

TABLE OF CONTENT

1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Definition
2. Executive Summary
3. Impact of COVID-19 on Global Behavioral Analytics Market
4. Global Behavioral Analytics Market Regulations & Policy
5. Global Behavioral Analytics Market Trends & Insights
6. Global Behavioral Analytics Market Dynamics
6.1. Drivers
6.2. Challenges
6.3. Impact Analysis

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