Identity Analytics Market is Projected to Reach $3,619.8 million by 2025, Growing at a Healthy CAGR of 27.8% from 2018 to 2025, Report
Pune, Maharashtra, India, September 16 2020 (Wiredrelease) Allied Analytics :The Objective of the Identity Analytics Market report is to depict the trends and upcoming for Identity Analytics Industry over the forecast years. In 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.
According to the report 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. 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 global identity analytics market.
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.
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.
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Some of the key players operating in the identity analytics market include Evidian, Gurucul, Hitachi Id Systems, Happiest Minds, LogRhythm, ID analytics (Symantec), Verint Systems, NetIQ (Microfocus), Microsoft, and Oracle.
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.
Based on component, 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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Based on analytics type, 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.
Key questions answered in the Identity Analytics Market research report:
What is the growth rate of the Identity Analytics Market during the forecast period?
What will be the global Identity Analytics Market size from 2018 to 2025?
What are the leading manufacturing companies in the Identity Analytics Market?
How the major current trends will shape the market in the future?
What are the driving factors and opportunities in the Identity Analytics Market?
Which will be the niches at which players profiling with thorough plans, financials, and also, recent advancements should set a presence?
Why are some of the segments flourishing at the highest growth rate while others experience steady growth?
What are the conclusions of the Identity Analytics Market report?
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