Behavior Analytics Market

The global behavior analytics market size is projected to grow from USD 5.5 billion in 2024 to USD 13.4 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 19.5%. One of the major factors driving the growth of the behavior analytics market includes the rising need for advanced security solutions to detect and mitigate insider threats and fraud. Companies also need to analyze behavior to have deeper insights into user actions, thus being able to personalize services and improve customer experience. Not to mention the rapidly growing adoption of cloud-based services and integration of AI and machine learning technologies spur further growth in behavior analytics across a wide breadth of industries.

Key and innovative vendors in the behavior analytics market include Qualtrics (US), OpenText (Canada), and Microsoft. (US), Cisco Systems, Inc. (US), IBM (US), Zoho Corporation (India), Oracle (US), Varonis Systems, Inc. (US), Fortinet, Inc. (US), Securonix (US), Teradata (US), Google (US), Adobe (US), SAS Institute (US), Qlik (US), 84.51˚ (US), Contentsquare (France), Exabeam (US), Clevertap (US), Dtex Systems (US), Mouseflow (US), Gurucul (US), Netspring (US), Visier, Inc. (Canada), Teramind (US), SplashBI (US), Amplitude (US), Prohance (India). The market players have adopted various strategies to strengthen their market position. Organic and inorganic strategies have helped the market players expand globally by providing a comprehensive suite of behavior analytics solutions, boosting innovation through research and development initiatives, establishing strategic partnerships with key industry stakeholders, and facilitating mergers and acquisitions to strengthen their technological capabilities and market presence.

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Qualtrics

Qualtrics is an American experience management company based in Seattle, Washington, and Provo, Utah and established in 2002 among the founders Scott M. Smith, Ryan Smith, Jared Smith, and Stuart Orgill. It was launched with concerns on experience management in March 2017. Currently, the Company has 20 offices in 5 clusters of the world. From December 2023, Qualtrics had approximately 5,600 employees working worldwide. Leading the marketplace in behavior analytics, Qualtrics combines next-generation technology with customer obsession and is investing heavily in this regard of late.

This will increase the already AI-driven platform of the company for more enhanced experience management. Treating customer feedback with sensitivity, Qualtrics placed its services at the top rung in experience management with constant iteration of the services at hand in hand, serving a gamut of customers from thousands of global organizations.

OpenText

OpenText Corporation is an information management company headquartered in Waterloo, Ontario, Canada. The company was established in 1991 with the objective of offering information-based solutions to businesses across the globe. Some of its most important products are Enterprise Content Management, Digital Process Automation, AI and Analytics, and Business Network Solutions. The geographic span of OpenText extends to over 60 countries around the globe, with locations in North America, Europe, Asia-Pacific, Middle East, and Africa. With nearly 24,100 employees around the world, OpenText has become one of the leaders in the information management space through its innovative products that help organizations sharpen their businesses and, therefore, accelerate their transformation into nimbler digital organizations.

OpenText consistently maintains its leadership in behavior analytics by making strategic acquisitions to support a strong product line for the changing business demands. It has overlaid new analytics features into its existing platforms, which are said to help firms drive valuable insights from their data. The next suite of analytics firms the company acquired enhanced OpenText to increase its AI and analytics capabilities with the likes of Micro Focus, bettering data-driven decisions for customers. This makes OpenText a trusted partner in the corporate world for handling complex digital transformations and connecting operationally to behavior analytics.

Related Reports:

Behavior Analytics Market by Solutions (User and Entity Behavior, A/B Testing, Heatmap, Feedback & Voice of Customer), Application (Customer Engagement, Brand Promotion, Workforce Optimization, Threat Detection & Prevention) - Global Forecast to 2029

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