IMARC Group, a leading market research company, has recently releases report titled “Identity Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global identity analytics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Identity Analytics Market?
The global identity analytics market size reached US$ 1,137 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,134 Million by 2028, exhibiting a growth rate (CAGR) of 17.6% during 2023-2028.
An identity analytics solution is an intelligent identity and access management (IAM) system that detects potential identity-related threats across information technology (IT) systems. It can authenticate inactive users, share high-privileged access (HPA) to prevent abnormal activity, and revoke privileges for dormant or terminated accounts. It can also improve the security operations of an organization, implement dynamic decision-making solutions, and minimize the need for manual intervention. As a result, identity analytics are gaining immense traction among retail, manufacturing, telecom, government, and healthcare sectors.
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What are the growth prospects and trends in the identity analytics industry?
The market is primarily driven by the increasing incidences of cyberattacks and online fraud across various industrial verticals. In addition, the rising digitization and the sudden COVID-19 outbreak resulted in the implementation of work-from-home and bring-your-own-device (BYOD) models at workplaces resulting in the risk of data vulnerability thus, contributing to the market growth.
Moreover, the integration of the internet of things (IoT), artificial intelligence (AI), and cloud-based solutions for adding another security layer to destroy surface area attacks represents another major growth-inducing factor. Besides this, the widespread product adoption by small and medium-sized enterprises (SMEs) and the banking, services, and insurance (BFSI) industry to reduce disruptions during banking operations and improve the customer experience is propelling the market growth.
Furthermore, the growing popularity of online payments and collaborations and mergers and acquisitions (M&As) among key market players to expand their portfolios are creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Analytics Type:
- Descriptive Analytics
- Diagnostic Analytics
- Predictive Analytics
- Prescriptive Analytics
Breakup by Component:
- Software
- Services
Breakup by Deployment:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- BFSI
- Telecom and IT
- Government
- Manufacturing
- Retail
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Anomalix Inc., Brainwave GRC, Confluxsys LLC, Evidian, Forgerock Inc., Gurucul Solutions Pvt Ltd., Hitachi ID Systems Inc, Nexis GmbH, Okta Inc., One Identity LLC (Quest Software Inc.), Oracle Corporation, Securonix Inc. and Verint Systems Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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