Increasing demand for mobility solutions and increasing rates of identity-related risk in key industries, driving the growth of the identity analytics market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 21, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Identity Analytics Market Expected to Reach USD 3,619.8 Million by 2025 |Top Players such as – Evidian, Gurucul & Oracle.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global identity analytics market size was valued at USD 512 million in 2017, and is projected to reach USD 3,619.8 million by 2025, growing at a CAGR of 27.8% from 2018 to 2025.
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Rise in adoption by enterprises to enhance identity and access management systems, rise in need to avail access certification, and increase in awareness regarding management of regulations and compliance drive the growth of the market. On the basis of region, North America accounted for largest market share in 2017. The software industry is in a better position due to the adoption of technologies that enabled remote working.
The global identity analytics market is segmented on the basis of component, deployment, analytics type, analytics type, end user, and region. Based on component, the software segment accounted for more than two-thirds of the total market share in 2017. On the other hand, the services segment is expected to grow at the highest CAGR of 33.2% from 2018 to 2025.
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The cloud deployment segment is expected to grow at the highest CAGR during the forecast period due to greater prospect to facilitate real business value to the organization through reduced cost. In addition, faster data processing, internal data delivery & handling, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this deployment mode, which in turn are anticipated to boost the identity analytics market growth.
The predictive analytics segment dominated identity analytics market share in 2017, and is projected to maintain its dominance during the forecast period. However, prescriptive analytics segment is anticipated to witness the highest growth rate during the forecast period due to the rise in usage of machine learning and AI technologies in identity and access management solutions.
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On the basis of region, North America accounted for nearly two-fifths of the total market share in 2017, and will maintain its dominant position throughout the forecast period. On the contrary, Asia-Pacific would grow at the highest growth rate, registering a CAGR of 30.7% from 2018 to 2025.The report also analyzes regions including Europe and LAMEA.
Some of the key players operating in the identity analytics market include Evidian, Gurucul, Hitachi Id Systems, Happiest Minds, LogRhythm, ID analytics (Symantec), Verint Systems, NetIQ (Microfocus), Microsoft, and Oracle.
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Covid-19 Scenario:
● The software industry is in a better position due to the adoption of technologies that enabled remote working. In addition, the industry has witnessed a rise in demand for certain applications amid COVID 19.
● However, yet certain software sectors have been through several difficulties. The SaaS companies that supply to specific sectors including hospitality, food, and others have seen a drop in revenue generation.
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