According to a recent report published by Allied Market Research, titled,"Identity Analytics Market by Component, Deployment, Organization Size, Analytics Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global identity analytics market was valued at $512 million in 2017, and is projected to reach $3,619.8 million by 2025, growing at a CAGR of 27.8% from 2018 to 2025.
Increase in need to democratize the analytics and increase in productivity, rise in adoption by enterprises to improve their identity and access management systems, and growth in data security compliance and the need to ensure adaptive access certification by the enterprises are some of the key factors that are expected to fuel the growth of the global market. However, complex IT infrastructure environment are expected to hamper the growth of the market.
The predictive analytics segment dominated identity analytics market share in 2017, and is projected to maintain its dominance during the forecast period. However, prescriptive analytics segment is anticipated to witness the highest growth rate during the forecast period due to the rise in usage of machine learning and AI technologies in identity and access management solutions.
The cloud deployment segment is expected to grow at the highest CAGR during the forecast period due to greater prospect to facilitate real business value to the organization through reduced cost. In addition, faster data processing, internal data delivery & handling, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this deployment mode, which in turn are anticipated to boost the identity analytics market growth
According to Vishwa Gaul, Research Analyst, ICT at Allied Market Research, Asia-Pacific identity analytics market is expected to grow at a highest CAGR in the near future due to increase in technological developments across different industry verticals such as BFSI, Telecom& IT, and others; growth in number of data breaches, cyber-attacks, and insider treats; and adoption of cloud technology in this region.
Key Findings of the Identity Analytics Market:
- 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.
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.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.