User Activity Monitoring Market 2023 Prophesy & Booming CAGR with Dominance of Key Players

MarketsandMarkets expects the global User activity monitoring Market size to grow from USD 1,071.3 million in 2018 to USD 3,335.7 million by 2023, at a Compound Annual Growth Rate (CAGR) of 25.5% during the forecast period.

Auditing and reporting plays a key role in the User activity monitoring market and is expected to grow at the highest CAGR from 2018 to 2023

Many organizations rely on user activity monitoring solutions to enhance productivity of their employees and protect their high value assets from security threats. The user activity monitoring solution includes various technologies, such as behavior analytics, log management, auditing and reporting, and others (visual forensics and user activity alerting). The auditing and reporting technology audits user logs and reports them. The auditing process helps organizations in adhering to rules and policies for conducting their business. The reporting capability in USER ACTIVITY MONITORING solutions provides a comprehensive report on the users’ activities, which help the IT administrators in taking necessary actions to increase the employees’ productivity and enhance the control over them and the third-party vendors. Such comprehensive features are encouraging organizations to deploy USER ACTIVITY MONITORING solutions.

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With the proliferation of cloud-based solutions, the deployment of user activity monitoring solutions on-cloud is preferred by most of the organizations. This helps in better monitoring and management of critical IT assets while ensuring robust security. Owing to this reason, many verticals, such as government and defense, Banking, Financial Services, and Insurance (BFSI), IT and telecom, healthcare, retail, manufacturing, energy and utilities, and others (education, media and entertainment, and travel and transportation), are increasingly adopting USER ACTIVITY MONITORING solutions. Furthermore, companies are opting for cloud-based user activity monitoring solutions, as they are cost-effective and offer better management.

The application monitoring segment of the User activity monitoring Market is expected to play a key role in the growth of User activity monitoring Market. This segment is expected to grow at the highest rate during the forecast period. The trend of working from remote locations has allowed users to access critical business applications, which may lead to creating security gaps in the organization’s network. user activity monitoring solutions help organizations in addressing this issue by notifying the IT teams about any harmful access to the application.

Among various verticals, the government sector is expected to grow at the highest CAGR during the forecast period. Government organizations need to optimize employee productivity and they have high-security risks leading to data breaches.

Major vendors in the global User activity monitoring 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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The User activity monitoring Market in Asia Pacific (APAC) is expected to grow at the highest CAGR from 2018 to 2023. The increasing adoption of cutting-edge solutions to enhance productivity would drive the growth of user activity monitoring and compliance management needs. Furthermore, rapid economic growth in the major APAC countries, along with the improving regulatory reforms and economic stability, is driving the User activity monitoring Market in the region. Small and Medium-sized as well as large enterprises in the APAC region, belonging to a range of verticals, such as government and defense, BFSI, IT and telecom, healthcare, retail, manufacturing, and energy and utilities, are expected to increase their investments in user activity monitoring solutions.