According to report “Personal Identity Management Market by Application (Access Control and Content Management), Service (Professional Services and Managed Services), Deployment Type (On-Premises and Cloud), Vertical, and Region – Global Forecast to 2021″, market size is estimated to grow from USD 7.37 Billion in 2016 to USD 12.76 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 11.61%.
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The increasing technology trend of Bring Your Own Device (BYOD) and Choose-Your-Own Device (CYOD) within organizations has introduced many security threats associated with identity thefts. As the frequency of sophisticated attacks on critical infrastructure are growing, the Personal Identity Management market is expected to gain traction in the next five years.
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Access control application to play a key role in the Personal Identity Management market
Access control is expected to play a key role in changing the Personal Identity Management landscape during the forecast period and it also expected to grow at the highest CAGR during the forecast period. This application provides identity managers with real-time management of all the activities with user devices such as smartphones, tablets, and laptops along with high security against malicious threats within the enterprises.
Cloud-based deployment is expected to be the fastest-growing deployment model
Cloud deployment is expected to be the fastest-growing deployment model in the Personal Identity Management market as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Cloud Personal Identity Management solutions are available according to customer demand, wherein customers can start or stop any service, at will.
North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow at the highest CAGR
North America is expected to hold the largest market share and dominate the Personal Identity Management market from 2016 to 2021. The changing adoption needs of cloud applications, BYOD, and mobile practices along with meeting the strict compliance regulations are driving the organizations in North America to adopt Personal Identity Management applications. Various companies such as IBM, VMware, CA Technologies, Microsoft, Oracle, and Okta among others are operating in the market space. APAC offers potential growth opportunities for the Personal Identity Management market to grow, as countries in the region are investing heavily to enhance access control and content management solutions.
The major vendors in the Personal Identity Management market include IBM Corporation (U.S.), VMware (U.S.), CA Technologies (U.S.), Microsoft (U.S.), Oracle (U.S.), and others.
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