Top 5 Companies in Behavior Analytics: Demand, Pricing, and Revenue Insights
RELEASE DATE: Sep 2024 Author: Spherical Insights Request Free Sample
What is Behavior Analytics?
The practice of gathering and examining data from consumer behaviors on a digital product like an app or website is known as behavioral analytics. Businesses can utilize this data to observe precisely how people engage with their digital interactions and decide how to enhance future digital offerings. More sophisticated software has been developed that allows businesses to monitor, in unexpectedly extremely fine detail, employee behavior when using company technology, including computers, printers, and servers.
Growth Factors and Future Prospects in the Behavior Analytics Industry
1. Enhancing data security and protection
Security teams can recognize potentially dangerous activities by using insights from behavioral analysis technologies to spot suspicious activity. Proactive actions to mitigate the danger and enhance cybersecurity can be made instantly due to real-time analytics. According to data from the Federal Trade Commission, customers reported losing over $10 billion to fraud in 2023 the first time that fraud losses have ever exceeded that threshold. This represents a 14% rise over 2022's reported losses.
2. Meeting the needs and expectations of the client
In order to thrive in the current competitive business environment, companies need to meet the expectations of their customers. By providing information about preferences and purchase decisions, behavioral analytics helps businesses provide more engaging customer experiences that draw and keep customers. Businesses can create strong client relationships by customizing their incentives, promotions, and offers with the use of behavior analytics.
3. Improving the Retention of Customers
Another big opportunity in the behavior analytics market is to improve the retention of clients because these solutions offer comprehensive insights into the conversations, preferences, and behaviors of customers. The primary determinants of customer happiness and loyalty can be identified by examining the patterns of consumer engagement with goods and services.
4. Increasing Need for Predictive Analytics and Data
An organization's ability to completely understand its customers and make more effective choices has increased due to the growing demand for data and predictive analytics. Businesses may better anticipate consumer trends and requirements with the use of predictive analytics, which enables them to create goods and services that better meet the needs of their target market.
Key Market Insights:
The global behavior analytics market size was valued at USD 1.31 billion in 2023 and is projected to USD 20.23 billion by 2033, exhibiting a CAGR of 31.48% during the forecast period 2023-2033. Several prominent companies within the global behavior analytics industry are Exabeam, Splunk Inc., IBM Corporation, Microsoft Corporation, Niara Inc., NTT Data Corporation, Oracle Corporation, SAP SE, TIBCO Software Inc., and Varonis Systems Inc
Regional Market Expansion
- North America is anticipated to hold the largest market size share. Because there are so many cybersecurity and advanced technology enterprises in the area, creative solutions are adopted early. Demand for behavioral analytics to fight against sophisticated risks is driven by a heightened focus on cybersecurity in both the public and private industries. Furthermore, a sizable business base and a well-established computer system in North America recognize the importance of behavioral analytics for operational effectiveness, security, and compliance.
List of Key Companies in the Behavior Analytics Industry
- Splunk Inc
- IBM Security QRadar
- Cynet 360 AutoXDR
- Cyberhaven
- Securonix
- InsightIDR
- Safetica
- Teramind
- Fortinet FortiInsight Cloud
- Qualtrics
Top 5 Players in the Behavior Analytics Industry
1. Splunk's
Headquarters: California, United States
Founded in 2003, Splunk's purpose is to address issues with intricate digital infrastructures. Since founding, we have assisted businesses in delving into the enormous depths of their data, much like spelunkers do in a cave (hence the name "Splunk"). Cisco purchased Splunk in 2024 to support clients in enhancing resilience throughout their whole digital footprint. Over the past 20 years, Splunk has changed significantly as digitalization has taken center stage and the variety and volume of disruptions have increased at the same time. We have remained one step ahead of consumers' needs due to innovation-focused culture and more than 1,100 patents. Many of the biggest and most intricate companies in the world today rely on Splunk to maintain the security and dependability of their mission-critical systems.
2. QRadar
Headquarters: Cambridge, Massachusetts.
On the QRadar platform, the IBM Security QRadar® Suite SaaS products operate. With over 900 pre-built interfaces across IBM and third-party solutions, the QRadar platform unifies the essential technologies for security operation centers into a single analyst experience. It has built-in, pre-integrated features for NDR, EDR, SIEM, log management, threat intelligence, and SOAR. On the platform, an administrator configures different apps and connections. Federated search, asset data addition, and log and alert ingest are all made possible by these linkages. The platform also has features for managing users and rules, as well as dashboards.
3. Cyberhaven
Headquarters: Alto, California
Cyberhaven offers ways to avoid data loss. The organization's service provides analytics-based information behavior solutions for data protection. IDA, Deloitte, Motorola, and Willdan are a few of the customers. Using an enterprise-wide platform, the organization evaluates internal actions to identify potentially dangerous behaviors and practices before they result in a breach. gives businesses effective data protection by expediting incident response investigations and offering full-context data tracing to prevent false positives and negatives. Prominent investors recently contributed $88 million in Series C fundraising to Cyberhaven, demonstrating the company's strong financial support and market interest. This financial influx may indicate prospects for business expansion and growth, as well as higher sales.
4. Securonix
Headquarters: Addison, Texas
The business Securonix is creating a platform for handling operations and security analytics. Integrated threat identification, examination, and response services are provided by it. The financial services and healthcare sectors are served by the organization. Behavioral and machine learning methods are used in the product's features to detect and monitor threats. To detect insider threats and APT, it tracks user, account, and system behavior using signature-less anomaly detection techniques and a customizable risk rating algorithm. It carries out analytics on user activity, identification, access, and network security. It offers threat and risk information that identifies and classifies unusual transactions, activities, and even access credentials.
5. Qualtrics
Headquarters: Washington, United States
The United States-based client experience management firm Qualtrics has its corporate offices in Provo, Utah, and Seattle, Washington. Customers, workers, brands, and products are the four essential indications of a business, and the company's software is designed to help businesses gather feedback and data on these points. This allows clients to provide better experiences in contact centers and at all digital and physical touchpoints. Recently, Qualtrics partnered with Flight Centre Travel Group Limited and Lakeside Software, Inc., offering sales possibilities to companies in the travel and IT industries who want to use Qualtrics' artificial intelligence-powered programs to improve staff engagement and customer experience.
Recent Development
- In June 2024, leading the market in AI-Reinforced CyberOps, Securonix, Inc. today announced the expansion of it collaborate program, allowing solution and service suppliers to take advantage of the latest AI-Reinforced CyberOps features in the newly released Securonix EON. These suppliers include Controlled Security Solutions Providers (MSSPs), Value Included Resellers (VARS), Technology Partners, Systems Integrators, and Tech Service Distributors (TSD).
- In March 2024, Cisco announced that it has successfully acquired Splunk, laying the groundwork for providing unmatched visibility and insights over the whole digital footprint of the company.
- In October 2023, IBM has released a new security suite that aims to streamline and expedite the experience of security analysts throughout the entire incident lifecycle.
- In May 2023, a strategic sales and development alliance has been established by Remark Holdings, Inc., an established manufacturer of artificial intelligence (AI) enabled video analytics options, with WaitTime, a core partner of Cisco and Intel, focusing on crowd-behavior analytics.
- In July 2022, Microsoft Corp. and Splunk Inc. collaborated to develop Splunk's business security and accessibility solutions on Microsoft Azure.
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