According to a new market research report "User Activity Monitoring Market by Component, Technology Type (Behavior Analytics, Log Management), Application Area (System, Application, File, Network Monitoring), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the user activity monitoring market size expected to grow from $1,071.3 Million in 2018 to $3,335.7 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 25.5% during the forecast period.
The Bring Your Own Device (BYOD) trend and the growing adoption of technologically advanced solutions have introduced many security threats associated with enterprise IT infrastructure. As there is a rise in sophisticated cyber threats for critical information theft, the UAM market is expected to gain traction over the next 5 years.
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Application monitoring segment is expected to play a key role in the UAM market
The application monitoring segment is expected to play a key role in the changing the UAM marketscape and grow at the highest CAGR during the forecast period. UAM solutions provide robust security to organizations’ critical IT assets. Additionally, they help organizations to meet PCI DSS, HIPAA, SOX, NERC CIP, FISMA, and other regulatory compliances.
Cloud-based deployment is expected to be a faster growing deployment mode
In the UAM market, the cloud is expected to be the faster growing deployment mode, as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Cloud-based UAM solutions are available according to customer requirements, wherein customers can start or stop any service, at will.
North America is expected to have the largest market size in the UAM market
Due to the presence of a large number of UAM vendors, North America is expected to have the largest market size in the global UAM market; whereas, Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period. An increasing need among organizations to optimize the employee productivity, growing concerns about the protection of high value targets in the organization, regulatory compliances, and an increased need for IT security are driving the adoption of UAM solutions. Furthermore, the UAM market in Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, expanding retail and banking sectors, and regulatory compliances.
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Major vendors in the UAM market include Micro Focus (UK), Splunk (US), Forcepoint (US), Imperva (US), ManageEngine (US), CyberArk (US), Rapid7 (US), Centrify (US), SolarWinds (US), Securonix(US), NetWrix (US), Digital Guardian (US), Birch Grove Software (US), LogRhythm (US), Sumo Logic (US), Balabit (Hungary), ObserveIT (US), Dtex Systems (US), WALLIX (France), Teramind (US), Veriato (US), SysKit (Croatia), Ekran System (US), NetFort (Ireland), and TSFactory (US).
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