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. 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 2018-2023.
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.
The global Identity Analytics market is characterized by the presence of many global, regional, and local vendors. Market Research Future has identified following key players in the market – 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 others
The market players follow several organic and inorganic growth strategies, under which they focus on partnerships, agreements, collaborations, mergers, acquisitions, business expansion, product launches, and product enhancements to strengthen their position and excel in the global 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.
By region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world.
Market Research Future (MRFR) has covered following countries in regional analysis of Identity Analytics market – U.S, Canada and Mexico in North America. Germany, U.K, France, Russia, Spain, and Italy in Europe. China, Japan, India, Singapore, Australia, and South Korea in Asia-Pacific. The Middle East & Africa and South America Market in the Rest of the world.
North America is dominating the identity analytics market, followed by Europe and Asia-Pacific. North America, especially U.S is a technically advanced region. Presence of key players such as Oracle, Verint systems, and LogRhythm among others. Further, increasing cyber-attacks in the region has increased the adoption of identity analytics solutions among verticals such as government, BFSI, and defense. Further, government mandate regulations to reduce the increasing rate of cybercrimes in the region.
Europe is the second highest revenue generating market for identity analytics. Developing digital technology and increasing demand for advanced solutions for security in the enterprises and public infrastructure are the prime factors for the growth of identity analytics in the region.
Asia-Pacific is projected to grow with fastest growing CAGR during the forecast period. Development in digital technology, growth in networked communication, increasing awareness about IoT and cloud resulting into increasing adoption rate of connected devices, and improving economics of countries such as India, Japan, and Australia are some of the prime factors for the growth of identity analytics market in the region.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Dynamics
LIST OF TABLES
Table 1 Identity Analytics Market, By Region, 2018–2023
Table 2 North America: Identity Analytics Market, By Country, 2018–2023
Table 3 Europe: Identity Analytics Market, By Country, 2018–2023
Table 4 Asia-Pacific: Identity Analytics Market, By Country, 2018–2023
Table 5 Rest Of The World: Identity Analytics Market, By Region, 2018–2023
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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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