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Behavior Analytics Market CAGR of 37.3%, Ethnography Techniques A Window into Consumer Behavior | Oracle Corporation (U.S.), Adobe Inc. (U.S.), IBM Corporation

Behavior Analytics Market CAGR of 37.3%, Ethnography Techniques A Window into Consumer Behavior | Oracle Corporation (U.S.), Adobe Inc. (U.S.), IBM Corporation

Report Ocean is a comprehensive analysis of the “Behavior Analytics Market”  that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.

Global Behavior Analytics Market Thrives, Valued at USD 586.5 Million in 2022, Expected to Surge by 37.3% Through 2030

Refreshed Content:

The Global Behavior Analytics Market, valued at USD 586.5 million in 2022, is poised for a robust growth rate exceeding 37.3% over the forecast period from 2023 to 2030. Behavioral analytics, a process of gathering and studying data from user interactions with digital products, such as websites or apps, is at the forefront of understanding user behavior, interests, and challenges. Employing advanced data mining, machine learning, and statistical techniques, behavioral analytics interprets data in diverse contexts, including business, cybersecurity, and healthcare, to enhance user experiences and elevate customer satisfaction. Key drivers for market growth include the escalating instances of insider frauds and threats, the widespread adoption of digital technologies, the rise of big data analytics, and a growing emphasis on security and risk management.

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Moreover, the increasing adoption of e-commerce platforms and online shopping positively influences market demand globally. Behavioral analytics emerges as a powerful tool for enhancing e-commerce businesses by collecting and analyzing user behavior data. As per Statista, global retail e-commerce sales, which were USD 1,548 billion in 2015, are anticipated to reach USD 8,148 billion by 2026. Artificial intelligence-based analytics gain traction across industries, revolutionizing the analysis of customer behavior, improving predictive capabilities, and maximizing data capture.

For instance, BrainChip Holdings Ltd. collaborates with nViso SA to enhance Social Robots and In-Cabin Monitoring Systems by leveraging AI-powered chips to analyze human behavior. This partnership utilizes gestures, head positions, facial expressions, and other behaviors to enhance user and product experiences. These factors collectively drive the growth of the behavior analytics market.

However, challenges persist, including stringent data protection laws and a lack of awareness about the availability of behavior analytics, hindering market growth throughout the forecast period from 2023 to 2030.

In addition, the rise in the adoption of e-commerce platforms and online shopping is further exhibiting a positive influence on the market demand across the globe. Behavioral analytics is a powerful tool that is used to improve e-commerce businesses by collecting and analyzing data about user behavior.. According to Statista, in 2015 global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. Accordingly, artificial intelligence-based analytics are gaining high traction across industry applications for decision-making skills. The technology has revolutionized the ways of analyzing and understanding customer behavior by improving predictive analysis capabilities and capture maximum data. For instance, BrainChip Holdings Ltd., a manufacturer of neuromorphic AI IP and chips, announced a partnership with nViso SA in order to improve the Social Robots and In-Cabin Monitoring Systems by collecting human behavior.

The utilization of gestures, head positions, facial expressions, and other behaviors is examined using chips powered by artificial intelligence (AI) technology to enhance user and product experiences. Thus, these aforementioned factors are propelling the growth of the behavior analytics market during the estimated period. Moreover, the increasing integration of advanced analytics and machine learning algorithms into behavior analytics, as well as the growing demand for driver safety measures present various lucrative opportunities over the forecast years. However, the stringent data protection laws and the lack of awareness regarding the availability of the behavior analytics are challenging the market growth throughout the forecast period of 2023-2030.

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Market Dynamics:

Key regions in the Global Behavior Analytics Market study comprise Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America leads the market in 2022 due to substantial investments in 5G and IoT technologies, widespread customer presence on digital platforms, and rapid digitization across industries. The Digital 2023 USA study reveals that 72.5% of Americans use social media platforms, contributing to the region’s demand fueled by the exponential rise of digital solutions. Asia Pacific is expected to exhibit the highest CAGR over the forecast years, driven by the increasing adoption of IoT, smart technologies, mobile and web applications, and the demand for solutions to understand changing industry trends.

Major Market Players:

Key players in the market include Oracle Corporation (U.S.), Adobe Inc. (U.S.), IBM Corporation (U.S.), Splunk Inc. (U.S.), Heap Inc. (U.S.), LogSentinel B.V. (Netherlands), (U.S.), Hotjar Ltd. (Malta), TIBCO Software Inc. (U.S.), and Niara Inc. (HP Inc.) (U.S.).

Recent Developments:

  1. In March 2022, Ribbit, a financial data and technology company, announced plans to offer analytics on bank behavior and secured series-A funding to enhance client assistance, affordability, and lower risk in financial services.
  2. In April 2023, UserTesting unveiled its Human Insight Platform, an advanced behavior analytics technology with machine learning capabilities, aiding organizations in live or prototype testing to reduce poor user experiences.
  3. In September 2022, TransUnion introduced TruValidate Device Risk with Behavioral Analytics to eliminate fraud and security risks based on user behavior, combining NeuroID behavior analytics with device intelligence.

Objective of the Study:

The study aims to define market sizes of different segments & countries in recent years and forecast values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also provides detailed information about crucial aspects such as driving factors, challenges, potential opportunities in micro markets, competitive landscape analysis, and product offerings of key players. Detailed segments and sub-segments of the market are explained below:

By Deployment:

  • Cloud
  • On-premises

By Application:

  • Advertising Campaign
  • Digital Marketing
  • Content Delivery
  • Brand Promotion
  • Threat Detection
  • Others

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By Industry:

  • Retail
  • BFSI
  • Healthcare
  • Government
  • Media & Entertainment
  • Education
  • Food & Beverages
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • ROE
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • RoAPAC
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa

Report Scope:

  • Historical Data: 2020 – 2021
  • Base Year for Estimation: 2022
  • Forecast Period: 2023-2030
  • Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
  • Segments Covered: Deployment, Application, Industry, Region
  • Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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Key Questions Answered by the Report:

  • What are the driving factors for market growth?
  • What challenges and limitations does the market face?
  • What emerging opportunities exist in the market?
  • What potential threats and risks could impact the market?
  • What is the current market size and growth rate?
  • What are the market segments and their sizes?
  • Which regions are projected to experience the highest growth and market share?
  • What variables affect different geographical areas?
  • Who are the major players in the market and their rankings?
  • What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
  • What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
  • What is the present market outlook, considering recent changes and growth possibilities?
  • What are the drivers, obstacles, and restrictions in both developing and emerging regions?
  • How does the market analysis utilize Porter’s five forces analysis?
  • How does the Value Chain provide insights into market dynamics?

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