According to the report, the global identity analytics market accounted for $512 million in 2017 and is projected to reach $3.62 billion by 2025, registering a CAGR of 27.8% from 2018 to 2025.
Rise in adoption by enterprises to enhance their identity and access management systems, increase in awareness about regulation and compliance management, and need to ensure adaptive access certification by the enterprises have boosted the growth of the global identity analytics market. However, increasing complexity of the IT infrastructure and slow adoption of advanced analytics solutions in the underdeveloped countries hamper the market growth. On the contrary, adoption of artificial intelligence and machine learning technologies in the identity analytics solutions and rise in demand for mobility solution and growing identity theft are expected to create lucrative opportunities in the near future.
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Global identity analytics market is divided on the basis of component, deployment, organization size, analytics type, industry vertical, and geography. Based on component, the market segmented into software and services. The software segment held the largest share in 2017, contributing more than two-thirds of the total market. However, the services segment is expected to register the fastest CAGR of 33.2% during the forecast period.
On the basis of deployment, the market is divided into on-premise and cloud. The on-premise segment dominated the market, contributing more than half of the market in 2017. However, the cloud segment is estimated to manifest the fastest CAGR of 31.6% during the study period.
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Based on geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. The market in North America region held the largest share in 2017, contributing nearly two-fifths of the market. However, the market in the Asia-Pacific region is expected to register the fastest CAGR of 30.7% during the forecast period.
The report includes an in-depth analysis of the major market players including Gurucul, Evidian, Happiest Minds, Hitachi ID Systems, ID analytics (Symantec), LogRhythm, NetIQ (Microfocus), Verint Systems, Microsoft, and Oracle.
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Key Findings of the Study –
- By component, the services segment is expected to exhibit significant growth during the forecast period.
- In 2017, the on-premise segment accounted for the highest revenue in the deployment category.
- By organization size, SMEs segment is projected to witness highest growth rate during the forecast period.
- Based on analytics type, the prescriptive analytics segment is anticipated to grow at the fastest growth rate during the forecast period.
- Based on industry verticals, the BFSI segment generated the highest revenue in 2017.
- Based on region, North America led the market in terms of revenue in 2017.
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