Behavior analytics market in healthcare sector to Witness a Significant Growth Over 2024

The healthcare sector has emerged as one of the major end-users of the behavior analytics market and is anticipated to register substantial growth during the forecast timeline. The growing demand for these solutions among healthcare organizations is attributed to the growing threat of insider attacks and data breaches among healthcare institutes, which poses a financial risk. Besides, healthcare institutes are more exposed to the risk of insider attacks owing to the general lack of cybersecurity infrastructure. User identity information can be stolen from hospital records for insurance fraud, the need to alleviate these risks has led to considerable demand for behavior analytics market solutions.

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Fortscale’s Presidio has been predicted to send behavior analytics market players in a tizzy, as its embedded approach is slated to deliver a rather streamlined, integrated threat detection model – much more precisely that the conventional UEBA approach requiring an external system would have delivered. The product would be setting the proverbial example for tech behemoths partaking in behavior analytics market share, state experts in correspondence with the matter, given that Presidio is embedded within the security infrastructure of the firm itself, which would offer consumers the exclusive benefits of analytical insights without having to resort to another product in existence.

Speaking of the competitive landscape, it is prudent to mention that one of most prominent names in behavior analytics market as on today, E8 Security, has proudly made it to the headlines recently for its tie-up with CrowdStrike’s Elevate Partner Program. The company will apparently combine its patented E8 Security Fusion Platform & its behavioral analytics expertise with CrowdStrike’s next-gen, end-point protection service called CrowdStrike Falcon, to conveniently help consumers resolve data breaches, bringing about a transformative change in behavior analytics market.

Apparently, E8’s behavioral analytics technology connected to CrowdStrike’s consumer network will lead to quick detection of malicious activity without having to employ arbitrary thresholds that would need to be adjusted due to false positives. Powered by machine learning and big data capabilities, the E8 Security Fusion Platform would help stimulate behavior analytics market trends, given that the platform helps identify threat within the organization through unusual behavioral patterns.

The Israel-based behavior analytics market player, Fortscale Security Ltd., has recently raised close to USD 7 million in its most recent funding round, primarily led by the Valor Capital Group and Evolution Equity Partners, and supported by Swarth, UST Global, Intel Capital, CME ventures, and Blumberg Capital. The totally accumulated capital of around USD 23 million apparently would help Fortscale further scale up its behavioral analytics platform. In an era swamped by security breaches and data threats, tech companies have been vying with one another to bring about a plethora of products that would help unveil the reason behind security threats, even as the danger lurks large in the current times. Behavioral analytics, an inherent vertical of business analytics, focuses on recording new insights on anomalous behavior to detect insider threats. Fortscale’s current funding round incidentally bears acquiescence to the release of the company’s most recent product offering – Presidio™, an embedded UEBA (user and entity behavior analytics) engine that is among the first to debut in behavior analytics market.

Amidst the backdrop of a scenario plagued by cyberattacks, data breaches, and insider threats, triggered by the adoption of big data platforms, the adoption of tools such as behavior analytics is on a considerable rise, especially among high-end domains such as the IT & telecom, defense, retail, government, and BFSI sectors, which has lucratively impelled behavior analytics market outlook.

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The banking business, in particular, has been under tremendous strain in recent years, and forms an intrinsic part of the end-user landscape of behavior analytics market. Owing to significantly surging risk percentage of cybersecurity, banks and numerous other financial institutions are rather vulnerable to cyberattacks and data exposure, given that these organizations store rather confidential information in mammoth amounts. Considering the rising number of financial losses, it has been observed that the banking community has been rather proactive in adopting analytical platforms – a move that will continue to stimulate behavior analytics market size. Companies partaking in behavior analytics market share have been going the whole hog to exploit the massive potential of this sector that has been on a roll lately, driving the demand for analytical solutions.

Table of content for this research report:

Chapter 4.   Behavior Analytics Market, By Deployment Model

4.1.  Global behavior analytics market share by deployment model, 2015 & 2024

4.2.  On-premise

4.2.1. On-premise deployment model, by region, 2013-2024

4.3.  Cloud

4.3.1. Cloud deployment market, by region, 2013-2024

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Some of the major vendors of the behavior analytics market solutions are Splunk Inc., IBM Corporation, Rapid7, LogRhythm, etc. Strategic partnerships are one of the most popular strategy used by vendors to gain market share. For example, in September 2017, Bay Dynamics announced that they are forming a strategic alliance with VMware Mobile Security Alliances with the sole purpose of enhancing its product capabilities, which assist enterprises to effectively mitigate mobile threats.

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