User Activity Monitoring Market - Growth, Trends, and Forecasts (2023-2028)

The User Activity Monitoring (UAM) market will register a CAGR of 22.1 % during the forecast period. The increasing need among organizations to optimize employee productivity and the need for enhanced control over employees and third-party vendors in enterprises will drive market growth.

Key Highlights

• Due to the increasing need to enhance employees' productivity and protect confidential information, the market is increasing. Moreover, there is a growing demand for user activity monitoring due to rising concerns about data security and theft, further driving the market's growth.
• UAM systems track and log the actions of internal and external users of a company's devices, networks, and other IT resources. The demand for enterprises to have more control over their employees and outside contractors is anticipated to be driving the use of UAM solutions.
• Moreover, UAM software allows managers and business executives to collect and analyze real-time user data on their business networks. This data is maintained in a log. The key features of UAM include unsafe URL blocking, keystroke logging, real-time monitoring, remote screenshot feature, etc.
• Additionally, it is expensive to design comprehensive security solutions, which drives up the cost of deployment for users. The UAM market is experiencing severe expansion challenges due to budgetary restrictions.
• With the spread of COVID-19 across the globe, the industries' IT systems have been tested against fresh difficulties. A silo-based strategy for monitoring, in which each technological tier was monitored independently by a different tool, is no longer sufficient to use due to the end-user being exposed to new difficulties where a single solution is not the efficient option. The market is anticipated to see new capabilities incorporated into existing solutions to meet the changing needs.

User Activity Monitoring Market Trends

Increasing Need Among Organizations to Optimize Employee Productivity to Drive the Market Growth

• User activity monitoring tools enable organizations to monitor and gather employees' real-time user actions and behavior data on business networks, connected devices, and other monitored workstations.
• By raising staff productivity, the UAM solution plays a significant part in maximizing enterprises' efficiency. Employees can access multiple business apps using the single sign-on solution.
• It recognizes workers and secures access restrictions. A single console administration facility is offered by integrated UAM products, which can aid in increasing visibility and complete coverage within businesses.
• Moreover, UAM solutions lower security risks and give enterprises a robust security mechanism to help them mitigate potential security threats and data loss. These technologies also assist customers in remotely accessing information via mobile devices.
• Additionally, UAM systems protect superuser credentials and sensitive company data from unwanted access and cyberattacks. The UAM solution is being used more frequently in enterprises because of its characteristics that increase employee productivity and cut costs. Consequently, it is anticipated that the UAM market will experience rapid expansion in the coming years.

North America to Hold Major Share

• According to Cybersecurity Ventures, by 2025, cybercrime will cost businesses more than USD 10.5 trillion yearly. The estimate is based on historical data on cybercrime, including recent year-over-year growth, a sharp rise in state-sponsored and organized crime gang hacking activities by hostile nations, an anticipated order-of-magnitude increase in the cyberattack surface, and projections of how cyber defenses will fare against hackers and cybercriminals over time. Spending on cybersecurity would rise during the anticipated period as a result.
• Organizations in this region are being pushed to use UAM solutions by the rising information security concerns brought on by network complexity, demanding compliance rules, and boosting staff productivity.
• Additionally, organizations in the United States and Canada now employ user activity monitoring systems for identifying and thwarting potential insider threats of various kinds. Implementing user activity monitoring assists businesses in actively monitoring suspicious activity, mitigating risks at their beginning, and preventing or at least minimizing possible damage from data breaches.
• The U.S. majorly drives the market growth here with an established corporate sector. Similarly, several key market players are expected to drive user activity by monitoring the market's growth at a favorable rate.

User Activity Monitoring Market Competitor Analysis

The UAM market is moderately competitive, consisting of participants who strategically prioritize innovation and introduce innovative solutions. Micro Focus International PLC, Splunk Inc., Imperva Inc., CyberArk Software Ltd., and Centrify Corporation are some market players. To diversify their product offerings and grow their market share, the companies also concentrate on strategic partnership and collaboration projects, and fund-raising activities.

In July 2022, CyberArk Software Ltd announced CyberArk Secrets Hub, a new Software-as-a-Service (SaaS) solution which provides developers with a simple, secure, and consistent way to access secrets on AWS and also enables enterprises to accelerate the transition to AWS by enforcing the same security policies across hybrid and cloud environments without changes to the developer experience.

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• The market estimate (ME) sheet in Excel format
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