User Activity Monitoring (UAM) is an advanced practice followed by enterprises to keep complete track of activities performed by employees. It captures user actions such as suspicious log-on/off over the central database, URL’s accessed, websites visited, and attempts made to edit or configure any files. User Activity Monitoring solutions ensure that the system used by enterprises remain safe under any circumstance by strengthening its security concerns. Accordingly, UAM helps organizations to track security incidents and reduce the occurrence of major security issues which leads to theft of sensitive files, hijacking of accounts, malware injections, and insider threat. UAM assists in identifying real-time incidents in the organization, detects possible threats, enables the monitoring of policy violations, and obtains a clear vision of potential threats to an organization.
Digital transformation is the foundation of enterprise strategy with a core focus on making work easier and enhancing the experience of customers, frontline employees, and business partners. Employees and business partners are the privileged users given access to the critical applications of an organization to perform their jobs effectively. Hence, tracking privileged users and monitoring their daily activity becomes essential and a challenge for organizations. UAM is a comprehensive solution for large and medium-sized industries to track and monitor the activity of privileged users; also, UAM solutions help to perform advance security checks and reduce probabilities of data breach and insider threat.
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Organizations are slowly understanding the importance of UAM solutions and are majorly attracted toward integrated Identity and Access Management (IAM) and Security Information and Event Management (SIEM) software. Also, as per the demand of organizations, UAM vendors are focusing on providing integrated IAM and SIEM software. In addition, UAM solutions support enterprises to increase IT efficiency, follow regulatory compliance, vendor auditing, database monitoring, and trace data logs to detect possible threats. However, some of the factors affecting the growth of UAM are its installation cost, managing user privacy, and the atmosphere of mistrust between employees and management. Installation cost of UAM solutions is high which changes the procuring decision of small enterprises. It also becomes very difficult to select the best activity monitoring tool as it depends on the business size, budget, and other critical factors. In addition to these major restraints, UAM creates an atmosphere of mistrust where employees perceive that the management does not trust them which results in job dissatisfaction and impacts organization growth.
The User Activity Monitoring Solutions Market can be segmented by solutions, services, applications, deployment, industry, and geography. By solutions, the UAM market is segmented into privileged session management, privileged identity theft, privileged compliance, SIEM log management, user auditing and reporting, and user behavior analytics. Based on services, the market is segmented into consulting services, training and education, maintenance and managed services. By applications, the market is segmented into system monitoring, application monitoring, file monitoring, network monitoring, and database monitoring. In terms of deployment model, the User Activity Monitoring Solutions Market is divided into cloud and on-premises. Based on installation type, the market is segmented by proxy-based and agent-based. On the basis of end-users industry, the User Activity Monitoring Solutions Market is segmented by banking, financial services and insurance (BFSI), government & defense, IT & telecom, healthcare, retail, manufacturing, energy & utilities and others. Among all, the banking, financial services and insurance (BFSI) segment is anticipated to show high demand for UAM solutions across the world due to growing data breaches, insider threats, and increasing unauthorized electronics banking transactions. Also, the UAM solutions market is further analyzed based on five major geographies which include North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region will witness lucrative growth due to growing bank projects and its operations in the U.S. and Canada, followed by Europe and the Asia Pacific.
Increasing demand from large and medium-sized enterprises have encouraged many vendors to start providing UAM solutions. Key players in User Activity Monitoring Solutions Market is gaining good competition from medium sized UAM solution providers. Some of the remarkable UAM solution providers are CyberArk Software Ltd., Securonix Security Analytics, Centrify Corporation, ObserveIT, Balabit Corp, IS Decisions, RSA Security Solutions, Hewlett Packard Enterprise (HPE), Teramind Inc., TSFactory LLC., Systancia, Micro Focus, Splunk, Forcepoint, and Digital Guardian.