Identity Analytics Market Trends 2019 and Industry Forecast 2023
The report on the Global Identity Analytics Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
Due to rapidly changing IT environment, hackers have found new ways to access valuable information and disrupt business operations. The rising dependency on web applications leads to an unprecedented rise in cyber-attacks, including advanced persistent threats. The use of web applications for purchases and related activities has led to an increase in identity thefts. With the emergence of social networking sites, it has become easier for attackers to extract users’ information. To mitigate these advanced threats, organizations are adopting identity access management solutions such as identity analytics.
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Global Identity Analytics market was valued at USD 245 million in 2017 and is estimated to reach market value of USD 1-2 billion by 2023 growing with 30% CAGR during forecast period 2019-2023. Increasing instances of identity related frauds and data breaches, high growth in networked communication, increasing adoption of smartphones and internet for routine tasks supported by adoption of BYOD trend by enterprises, increasing adoption of cloud, and development in connected technology such as IoT are some of the prime driving factors of the market. However, lack of adequate privileged access control is one of the major challenges faced by the enterprises. Whereas, lack of expertise and compliance with dynamic regulatory requirements are some of prime factors hindering the market growth in coming years. Further, development in artificial intelligence enabled identity analytics solutions and increasing growth in big data market are expected to develop a fruitful opportunity for the growth of the market.
MRFR has considered Oracle, Verint Systems, LogRhythm, Quantum Secure, NetIQ, Hitachi ID Systems, SailPoint Technologies ,Gurucul, Evidian, Brainwave GRC, ID Analytics, Nexis GmbH, IDAX Software, Novetta, Net Owl, Anomalix, Traxion, Propentus, Beta Systems, and ThreatMetrix among some of the key players in Identity Analytics market.
The global Identity Analytics Market is segmented into component, deployment mode, organization size, application, vertical, and region. By component, the market is segmented into hardware, solution, and services. Hardware segment is further sub-segmented into security devices, and servers. Whereas, services segment is further sub-segmented into professional and managed services. By deployment, the market is segmented into on-premise, on-cloud and hybrid. By organization size, the market is sub-segmented into SMEs and large enterprises. By application, the market is classified into account management, fraud detection, threat management, risk scoring and evaluation, data analytics, and others. By vertical, the market is classified into BFSI, Government & defense, IT & Telecommunication, Retail, manufacturing, energy & utilities, transportation, and healthcare among others.
The market for identity analytics market is estimated to grow at a significant rate during the forecast period 2019 to 2023. The geographical analysis of Identity Analytics market is studied for North America (U.S, Canada, and Mexico), Europe (Germany, U.K, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, South Korea and Rest of Asia-Pacifc), and the Rest Of The World (including the Middle East & Africa, and South America).
Currently, North America is a leading market in Identity Analytics. North America is an established region in terms of advanced infrastructure and is widely known as an early adopter of new technologies. Advancements in technologies such as IoT, AI and cloud computing offer opportunities for the development of Identity Analytics solutions in the region.
Europe is the second highest revenue generating market for identity analytics. High adoption of identity access management solutions by IT & telecommunication, and government sector, and government plan to increase spending on identity analytics and presence of key players such as Propentus, and Beta Systems in the region are the prime factors for the growth of European identity analytics market.
Asia-Pacific is projected to grow with fastest growing CAGR. Increasing trend of BYOD among enterprises, government support for digitization, and development in network technologies such as 4G, and 5G, are the prime factors behind the growth of the market. China is the leading market whereas, India, followed by Singapore and Australia are projected to register highest growth rate in the coming years.
Middle East & Africa is showing significant growth in identity analytics market due to government initiative to promote digitization in the countries such as UAE. Whereas, South America is witnessed to grow with fastest growing CAGR, as industries in this region are investing heavily in digital and automation technologies.
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LIST OF TABLES
Table 1 Identity Analytics Market, By Region, 2019–2023
Table 2 North America: Identity Analytics Market, By Country, 2019–2023
Table 3 Europe: Identity Analytics Market, By Country, 2019–2023
Table 4 Asia-Pacific: Identity Analytics Market, By Country, 2019–2023
Table 5 Rest Of The World: Identity Analytics Market, By Region, 2019–2023
LIST OF FIGURES
FIGURE 1 Global Identity Analytics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Identity Analytics Market
FIGURE 4 Value Chain/Supply Chain Of Global Identity Analytics Market
FIGURE 5 Share Of Global Identity Analytics Market In 2017, By Country (In %)
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