Identity Analytics Market
The Objective of the “Identity Analytics Market” report is to depict the trends and upcoming for the Identity Analytics industry over the forecast years. Identity Analytics Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2018 to 2025 mulling over 2017 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
The global identity analytics market generated $512 million in 2017, and is expected to reach $3.62 billion by 2025, registering a CAGR of 27.8% from 2018 to 2025.
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Surge in adoption by enterprises to improve identity and access management systems, increase in need to avail access certification, and rise in awareness regarding management of regulations and compliance drive the growth of the market. However, increase in complexities of IT infrastructure and slow rate of adoption of advanced analytics solutions in underdeveloped countries hinder the market growth. On the other hand, adoption of machine learning technologies and artificial intelligence for identity analytics solutions and increase in demand of mobility solutions create new opportunities in the industry.
Leading market players analyzed in the research include Evidian, Hitachi Id Systems, Gurucul, LogRhythm, Happiest Minds, Verint Systems, ID analytics (Symantec), Microsoft, NetIQ (Microfocus), and Oracle.
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North America accounted for nearly two-fifths of the total market share in 2017, and will maintain its dominant position throughout the forecast period. This is due to rapid adoption of AI driven technologies in identity analytics. However, Asia-Pacific would grow at the highest growth rate, registering a CAGR of 30.7% from 2018 to 2025, owing to increase in security compliance requirements in various industry verticals such as BFSI, government, Telecom & IT, and others along with rise in number of data breaches and cyber-attacks that lead to adoption of identity analytics solutions.
The software segment contributed to more than two-thirds of the total market share in 2017, owing to rise in data governance and regulation policies for enterprises and the requirement to make informed and data-driven decisions. However, the services segment is expected to grow at the highest CAGR of 33.2% from 2018 to 2025, owing to increase in requirements for training, maintenance, planning, and support services during the usage of identity analytics and the demand for integration, implementation, and upgradation of services.
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The predictive analytics segment held the major market share, contributing nearly one-third of the total market share in 2017, and is expected to maintain its leadership status by 2025. This is due to its effectiveness in countering frauds and improvement of ongoing provisioning and governance. However, prescriptive analytics would register the highest growth rate with a CAGR of 29.4% from 2018 to 2025, owing to its characteristic to facilitate the organizations with hierarchical models, rule-induction, and decision trees. The research also analyzes descriptive analysis and diagnostic analysis.
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