Home » Identity Analytics Market Size and Growth Rate Value of 27.8%: A Deep Dive Analysis 2025

Identity Analytics Market Size and Growth Rate Value of 27.8%: A Deep Dive Analysis 2025

Identity Analytics Industry

Increase in awareness about regulation and compliance management are some of the factors that drive the growth of the global identity analytics market.

PORTLAND, PORTLAND, OR, UNITED STATE, March 27, 2024 /EINPresswire.com/ — 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.

Identity analytics is a type of advanced analytics that focuses on the management and analysis of digital identities within an organization. It involves the use of algorithms, machine learning, and statistical analysis to gain insights into user behaviors, access patterns, and potential risks related to identity and access management (IAM).

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In simpler terms, identity analytics is about understanding who has access to what resources within a company’s digital ecosystem, how they are using that access, and whether any activities pose a risk to the organization’s security or compliance.

A surge in adoption by enterprises to improve identity and access management systems, the increase in the need to avail access certification, and the rise in awareness regarding the management of regulations and compliance drive the growth of the market. However, the increase in complexities of IT infrastructure and the slow rate of adoption of advanced analytics solutions in underdeveloped countries hinder market growth. On the other hand, the adoption of machine learning technologies and artificial intelligence for identity analytics solutions and the increase in demand for mobility solutions create new opportunities in the industry.

Based on component, the software segment contributed to more than two-thirds of the total market share in 2017, owing to a 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 an 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 fraud 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 of facilitating organizations with hierarchical models, rule-induction, and decision trees. The research also analyzes descriptive analysis and diagnostic analysis.

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 the 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 an increase in security compliance requirements in various industry verticals such as BFSI, government, Telecom & IT, and others along with the rise in number of data breaches and cyber-attacks that lead to the adoption of identity analytics solutions.

Asia-Pacific identity analytics market is expected to grow at the highest CAGR in the near future due to an increase in technological developments across different industry verticals such as BFSI, Telecom& IT, and others; growth in a number of data breaches, cyber-attacks, and insider treats; and adoption of cloud technology in this region.

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The report focuses on the growth prospects, restraints, and identity analytics market trends. The study provides Porters five forces analysis of the identity analytics market to understand the impact of various factors such as the bargaining power of suppliers, competitive rivalry, the threat of new entrants, threat of substitutes, and the bargaining power of buyers on the growth of the identity analytics market.

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.

Key Benefits for Identity analytics Market:

• This study presents the analytical depiction of the global identity analytics market along with the current trends and identity analytics market forecast to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and identity analytics market opportunity.

• The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the identity analytics industry.

• Porters five forces analysis illustrates the potency of buyers & suppliers in the global identity analytics market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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