According to Market Research Future (MRFR), the identity analytics market had a valuation of USD 245 million in 2017 and is anticipated to reach USD 2 billion with 30% CAGR from 2018 to 2023 (forecast period). The study identifies the strengths, opportunities, challenges, and emerging market risks and provides an extensive analysis of the global business environment with the effects of COVID-19.
Owing to the rapidly evolving IT environment, hackers have discovered new ways to access valuable information and disrupt business operations. Growing dependence on web applications leads to an exponential increase in cyber-attacks, including advanced persistent threats. The use of web applications for transactions and related activities has contributed to an increase in identity theft. With the advent of social networking sites, it has become easier for attackers to collect information from users. Identity access management solutions, such as identity analytics, are being adopted by organizations to combat these advanced threats.
Identity Analytics Market Dynamics
Developing occasions of character related extortion and information breaks, high development in arranged correspondence, expanded utilization of cell phones and the web for routine undertakings helped by reception of BYOD pattern by endeavors, rising cloud reception, and advancements in associated innovation, for example, IoT are a portion of the driving elements of the business. All things considered, the absence of adequate restricted admittance control is one of the huge issues confronting organizations. While, absence of ability and consistence with dynamic administrative necessities are a portion of the fundamental factors that might block market development before long. Moreover, the development of man-made reasoning empowered character examination arrangements and an expansion in the huge information market's development are relied upon to give a positive chance to advertise development.
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Identity Analytics Market Segmentation
The global identity analytics market has been segmented into component, deployment mode, organization size, application, and vertical.
By Organisation Size
- Large Enterprises
- Medium Enterprises
- Small Enterprises
- Security Devices
- Managed Services
- Professional Services
- Telecommunication and IT
- Defense and Government
- Utilities and Energy
- Healthcare and Transport
- Manufacturing and Retail
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- Fraud Detection
- Data Analytics
- Evaluation and Risk Scoring
- Account Management
- Threat Management
Identity Analytics Market Regional Analysis
Region-wise, the global identity analytics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the world.
North America leads the identity analytics market, followed by Europe and the Asia Pacific. North America, particularly the United States, is a technically advanced region due to the presence of key players like Oracle, Verint, and LogRhythm, among others. In addition, increasing cyber-attacks in the region have increased the adoption of identity analytics solutions among verticals such as government, BFSI, and defense. In addition, the government mandate regulations to reduce the rising incidence of cybercrime in the region.
Europe is the second-largest revenue-generating market for identity analytics. Developing digital technology and growing demand for advanced solutions for corporate security and public infrastructure are key factors contributing to the growth of identity analytics market in the region.
Asia Pacific is expected to rise with the fastest growing CAGR in the forecast period. Advancement in digital technology, growth in networked communication, increasing awareness of IoT and cloud, resulting in an increase in the rate of adoption of connected devices, and improving economies of countries such as India, Japan, and Australia are some of the main factors in the growth of the identity analytics market in the region.
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Identity Analytics Market Key Players
The global identity analytics industry is characterized by many global, regional, and local vendors. MRFR has identified the following key players in the market -
- ID Analytics
- Beta Systems
- Net Owl
- SailPoint Technologies
- Verient Systems
- IDAX Software
- Hitachi ID Systems
- Nexis GmbH
- Quantium Score
This Report aims to provide
- A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2022 to 2030.
- The analysis tools such as SWOT analysis, Porter’s five force analysis are utilized which explains the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
- The in-depth analysis of the market segmentation helps to identify the prevailing market opportunities.
- In the end, this Identity Analytics report helps to save you time and money by delivering unbiased information under one roof.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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