Growth in IT sector has created enough space for hackers and this has to be curbed considerably to retain trusts of associated employees and customers. The effort would be directed towards maintaining the smooth workflow of any organization. This is why identity analytics tools have been developed. The global identity analytics market is riding on these tractions and is expected to gain 30% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) in their recently published report on the global identity analytics market revealed that the growing digitalization would ensure high integration of the identity analytics market across industries.
Factors, such as high intake of smartphones, surge in network communication, rise in bring your own device (BYOD), adoption of cloud, better IoT integration, and others are expected to increase the market valuation of the global identity analytics market. But many companies are facing problems as the system hardly provides any privileged access control. At the same time, lack of dynamic regulatory requirements can also dampen the identity analytics market rise.
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MRFR, in their global identity analytics market report, segmented it by component, deployment mode, organization size, application, and vertical to get a better peek into the latest moves made by companies.
Based on the component, the identity analytics market includes hardware, solution, and services. The hardware segment comprises security devices, and servers. Whereas, the services segment includes professional and managed services.
Based on the deployment, the identity analytics market encompasses on-premise, on-cloud and hybrid. The hybrid segment is gaining substantial traction.
Based on the organization size, the identity analytics market includes Small and Medium Enterprises (SMEs) and large enterprises. In developing economies, SMEs are making substantial market coverage.
Based on the application, the identity analytics market consists data analytics, account management, fraud detection, risk scoring and evaluation, threat management, and others.
Based on the vertical, the identity analytics market comprises BFSI, government & defense, IT & Telecommunication, retail, transportation, manufacturing, energy & utilities, healthcare and others. The technology is gaining substantial traction from the government & defense sector owing to the demand for high-level of security.
The global Identity Analytics Market is getting intense as several companies are showing keen interest in it. These companies are Verint Systems, Oracle, Quantum Secure, LogRhythm, Hitachi ID Systems, NetIQ, Gurucul, SailPoint Technologies, Brainwave GRC, Evidian, Traxion, Propentus, IDAX Software, ID Analytics, Nexis GmbH, Anomalix, Novetta, Net Owl, Beta Systems, ThreatMetrix, and others. MRFR’s report on the same market has detailed profiles of these companies as they intend to understand latest trends that can be influential in the coming days.
In June 2019, the Australian National Audit Office (ANAO) made suggestions for the National Disability Insurance Agency (NDIA) asking the latter to prioritize its data-matching and analytics capabilities in a bid to arrest fraudulent claims.
Market Research Future (MRFR) covered several countries for a region-specific analysis of the global identity analytics market that includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The Middle East & Africa and South America Market come under the Rest of the World category.
North America has the baton and it is leading the global market owing to its technological superiority. Major companies are working from this region. Among them, Oracle, Verint systems, and LogRhythm are prominent. The regional infrastructure is backing up this integration substantially and threats of cyber-attacks are providing the rest of the necessary thrust. Government regulations are playing in favor of the market, which is inspiring various initiatives.
Europe shares similar traits like that of the North America owing to which the regional market is gaining substantially and is currently ranked second. Digital integration and growing demand for advanced models are assisting the regional market. However, intent to build a solid public infrastructure is also acting like a driving force for the market.
The APAC market is the fastest growing one and its CAGR would outpace the rest during the forecast period. The region is witnessing substantial growth in networked communication. Among others, integration of IoT and cloud is promoting adoption rate of connected devices, and developing countries such as India, Japan, and Australia are considerably pushing the market forward.
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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
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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