DUBLIN--(BUSINESS WIRE)--The "User Activity Monitoring Market - Growth, Trends, Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The User Activity Monitoring market was valued at USD 1,185.6 million in 2019, and it is expected to reach USD 4,135.1 billion by 2025, registering a CAGR of 25.5% over the forecast period (2020 - 2025).
User Activity Monitoring solutions ensure that enterprises' system remains safe under any circumstance by strengthening its security concerns. Accordingly, UAM helps organizations track security incidents and reduce the occurrence of significant security issues, leading to the theft of sensitive files, hijacking of accounts, malware injections, and insider threats.
- Due to the increasing need to enhance employees' productivity and to protect confidential information, the market is growing. Moreover, there is a growing demand for user activity monitoring due to rising concerns about data security and data theft, further driving the growth of the market.
- Those with insider access perpetrate more than 50% of cyber-attacks. Moreover, increasing adoption for user activity monitoring solutions across various sectors is the ongoing trend observed, which is expected to support market growth in the near future.
- Employees and business partners are the privileged users given access to an organization's critical applications to perform their jobs effectively. UAM is a comprehensive solution for large and medium-sized industries to track and monitor privileged users; UAM solutions help implement advanced security checks and reduce probabilities of data breach and insider threat.
- Also, as per the demand of organizations, UAM vendors focus on providing integrated IAM and SIEM software. Also, UAM solutions support enterprises to increase IT efficiency, follow regulatory compliance, vendor auditing, database monitoring, and trace data logs to detect possible threats.
- However, financial constraint due to higher innovation cost of UAM solution is restraining the market's growth, as it directly affects the budget allocation of organizations. Similarly, the market's development is hindered due to its installation cost, managing user privacy, and the atmosphere of mistrust between employees and management. The installation cost of UAM solutions is high, which changes the procuring decision of small enterprises. It also becomes challenging to select the best activity monitoring tool as it depends on the business size, budget, and other critical factors.
- The attacks it has recognized so far are versatile and can be administered through various media, adapting to various sectors via multiple means, such as credential theft, ransomware, bitcoin scams, or straight-up fraud.
Retail to Register Significant Growth
- With increasing smartphone and internet usage, customers can easily access information about different products and services across multiple channels, like the web, social media, and other applications. With an average time spent on mobile phones reaching around 5 hours per day and the availability of multiple customer touchpoints, like websites, social media, live chats, phone calls, apart from the in-person assistance, brands find ample opportunity to engage customers with their brand and generate more revenues.
- According to Button, across the Button platform, mobile spending per shopper rose 68% from Nov 24, 2019, to Jan 3, 2020, compared with the same period a year earlier. During the same period, the vendor says the total number of orders per shopper increased 38% year over year. The total number of retail mobile app installations increased by 106%, and the overall mobile conversion rate increased by 12%, Button found.
- Further, the need to address these end-point systems, avoid any data or security breaches and ensure PCI compliance within their stores across all IT systems that store, transmit, or track credit card data drives the implementation of user activity monitoring applications in retail stores.
- The growing penetration of technology facilitators, coupled with increasing acceptance of virtual shopping, has bolstered the e-commerce ecosystem and has increased the need for a robust network to secure the online website and secure the customer financial data customer sensitive information.
Key Topics Covered:
- Increasing Need Among Organizations to Optimize Employee Productivity
- Need for Enhanced Control Over Employees and Third-Party Vendors in Enterprises
- High Cost of Innovation for Developing Robust UAM Solutions
- Industry Attractiveness - Porters Five Force Analysis
- Behavior Analytics
- Log Management
- Auditing and Reporting
- Assessment of Impact of COVID-19 on the Industry
- By Application
- By Enterprise
- By End-user Industry
- By Geography
- Micro Focus International
- CyberArk Software
FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/9l0b5y
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