$1+ Billion Identity Analytics Market - Global Forecast to 2023: Increasing Instances and Sophistication of Identity-Related Frauds and Data Breaches Resulting in Heavy Loss of Revenue

Dublin, Jan. 11, 2019 (GLOBE NEWSWIRE) -- The "Identity Analytics Market by Component (Solution and Services), Application (Account Management, Customer Management, Fraud Detection, and GRC Management), Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global identity analytics market size is expected to grow from USD 291 million in 2018 to USD 1,093 million by 2023, at a Compound Annual Growth Rate (CAGR) of 30.3% during the forecast period.

Rising demand for mobility solutions and an increase in the IT security budget for advanced identity management solutions among enterprises to drive the overall identity analytics market

Various factors such as rising demand for mobility solutions, demand for a more comprehensive defense system to reduce risk and enhance security, increase in the IT security budget for advanced identity management solutions among enterprises, and rise in awareness about compliance management are expected to drive the market. However, the increasing complexity of the IT environment and limited availability of technical skillsets for implementing the identity analytics solutions may restrain the identity analytics market growth.

The IT and Telecom industry vertical to grow at the highest CAGR during the forecast period

The IT and telecom industry vertical is expected to grow at the highest CAGR in the identity analytics market during the forecast period. IT and telecom organizations are a key target of cybercriminals. Hence, these organizations are making huge investments to enhance their security systems. The IT and telecom sector requires identity analytics solutions on a large scale due to the huge volumes of information produced on a daily basis in these organizations.

Rise in the integration of information and communication technology into daily activities of industries, families, government, and consumers, along with increasing growth of cybersecurity has led the telecom and IT sector to focus more on IT activities. Telecom organizations typically store personal data such as name, address, and financial data, which is a compelling target for cyber-criminals or insiders.

The identity analytics solutions can help detect access risk and access outliners that harm the organization's IT environment. These solutions enable IT and telecom companies to integrate advanced analytics tools into their business application for automating the entire identity and access management processes.

The large enterprises segment to hold a larger market size during the forecast period

The large enterprises segment is expected to hold a larger market size in the identity analytics market, by organization size, during the forecast period. Availability of sufficient capital and huge workforce enables these organizations to deploy experts in different areas of identity management solutions and helps them in proper management of data and privacy.

The huge volume of data, along with various business applications and processes of enterprises involve a high level of complexities and distributed environments. Identity analytics solutions help manage the huge amount of data and applications by automating the entire business process including account provisioning, revoke access, authentication and privileged access management.

Another factor that contributes to a higher market share of large enterprises in the identity analytics market is the high investments in R&D activities to develop the best-fit technology to enhance an organization's business efficiency.

North America to account for the largest market share, whereas Asia Pacific (APAC) to grow at the highest CAGR

North America is estimated to hold the largest market size and dominate the global identity analytics market in 2018, as the region is an early adopter of identity analytics solutions. North America is considered the most advanced region in terms of technology adoption and infrastructure. The presence of key industry players that offer identity analytics solutions is the key factor driving the North American identity analytics market.

The Asia Pacific (APAC) market is expected to grow at the highest CAGR during the forecast period. Several new startups in APAC have entered the identity analytics market and started developing advanced identity analytics solutions. Funding by investors is helping these small firms innovate their solutions for automating the system identities and access privileges. The integration of big data and machine learning tools to transform identity management applications in the developing countries could boost the identity analytics market growth in the APAC region.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Factor Analysis
2.4 Identity Analytics Market: Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Identity Analytics Market
4.2 Identity Analytics Market, Market Share of Top 3 Applications and Regions, 2018
4.3 Identity Analytics Market, Top 3 Solutions
4.4 Identity Analytics Market, By Component, 2018 vs 2023
4.5 Identity Analytics Market, By Application, 2018 vs 2023
4.6 Identity Analytics Market, By Deployment Mode, 2018
4.7 Identity Analytics Market, By Organization Size, 2018
4.8 Identity Analytics Market, By Industry Vertical, 2018 vs 2023
4.9 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Increasing Instances and Sophistication of Identity-Related Frauds and Data Breaches Resulting in Heavy Loss of Revenue
5.1.1.2 Stringent Regulatory and Compliance Requirements to Drive the Adoption of Identity Analytics Solutions
5.1.1.3 Increasing Adoption of Enterprise Mobility and Byod Trends
5.1.2 Restraints
5.1.2.1 Budget Constraints Affecting the Adoption of Identity Analytics Solutions
5.1.3 Opportunities
5.1.3.1 Proliferation of Cloud-Based Identity Analytics Solutions and Services
5.1.3.2 Introduction of Ml/Ai-Powered Identity Analytics Solutions
5.1.4 Challenges
5.1.4.1 Lack of Awareness Regarding Identity Analytics Solutions and Services
5.2 Regulatory Implications
5.2.1 General Data Protection Regulation
5.2.2 Payment Card Industry Data Security Standard
5.2.3 Health Insurance Portability and Accountability Act
5.2.4 Federal Information Security Management Act
5.2.5 Gramm-Leach-Bliley Act
5.2.6 Sarbanes-Oxley Act
5.2.7 The International Organization for Standardization 27001
5.3 Innovation Spotlight
5.3.1 Sailpoint Technologies
5.3.2 Brainwave GRC

6 Identity Analytics Market, By Component
6.1 Introduction
6.2 Solution
6.2.1 High Demand for Solution in Asia Pacific to Drive the Market Growth
6.3 Services
6.3.1 Growing Demand for Services in North America to Drive the Market Size During the Forecast Period

7 Identity Analytics Market, By Service
7.1 Introduction
7.2 Professional Services
7.2.1 Increasing Need for Technical Support to Boost the Growth of Professional Services
7.3 Managed Services
7.3.1 Managed Services to Continue to Gain Popularity During the Forecast Period

8 Identity Analytics Market, By Application
8.1 Introduction
8.2 Account Management
8.2.1 Focus on Detecting Dormant Accounts and the Misuse of Privileged Accounts to Drive the Adoption of Account Management Application
8.3 Customer Management
8.3.1 Growing Need for Securing Consumer Credentials to Create Opportunities for Customer Management Applications
8.4 Fraud Detection
8.4.1 Rising Identity-Related Thefts to Increase the Need for Fraud Detection Application
8.5 GRC Management
8.5.1 Focus on Streamlining the Entire Business Process to Spur the Demand for GRC Application
8.6 Identity and Access Management
8.6.1 Easy Integrations of Identity Analytics With Organization's Existing Applications to Provide Better Visibility
8.7 Others

9 Identity Analytics Market, By Deployment Mode
9.1 Introduction
9.2 On-Premises
9.2.1 On-Premises Deployment Mode Enables Organizations to Manage Platforms, Applications, Systems, and Data on Their Own
9.3 Cloud
9.3.1 Cost-Effectiveness of Cloud-Based Offerings to Drive Their Adoption

10 Identity Analytics Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 Small and Medium-Sized Enterprises to Drive the Adoption of Cloud-Based Solution
10.3 Large Enterprises
10.3.1 Need to Manage Huge Volumes of Identity-Related Information to Boost the Adoption of Identity Analytics Solution Among Large Enterprises

11 Identity Analytics Market, By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.2.1 Increasing Instances and Sophistication of Identity Frauds in Financial Transactions to Fuel the Growth of Identity Analytics Market
11.3 Government and Defense
11.3.1 Increasing Need to Protect the Sensitive Credentials of Citizens and Employees to Boost the Market Growth in Government and Defense Vertical
11.4 IT and Telecom
11.4.1 IT and Telecom Companies Deploy Identity Analytics Solution to Address the Challenges Related to the Security and Privacy of Digital Identities
11.5 Energy and Utilities
11.5.1 Identity Analytics Solution to Enhance Operational Efficiency and Mitigate Potential Identity-Based Threats in Energy and Utilities Vertical
11.6 Manufacturing
11.6.1 Manufacturing Vertical is Increasingly Adopting Identity Analytics Solution to Manage Identity Access for Suppliers, Partners, and Customers
11.7 Retail
11.7.1 Increasing Complexities in Managing Access Control to Spur the Demand for Identity Analytics Solution in Retail
11.8 Healthcare
11.8.1 Rising Identity Thefts to Drive the Need for Identity Analytics Solution in Healthcare Vertical
11.9 Others

12 Identity Analytics Market, By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.1.1 Early Adoption of Technologies and High Focus on Innovations to Boost the Market Growth in the United States
12.2.2 Canada
12.2.2.1 Adoption of Identity Analytics Solutions Across Verticals to Drive the Market Growth in Canada
12.3 Europe
12.3.1 United Kingdom
12.3.1.1 Focus on Securing Users' Identities and Addressing GDPr Requirements to Drive the Market in the United Kingdom
12.3.2 Germany
12.3.2.1 Need for Improving Business Facilitation Processes and Operational Efficiency is Expected to Push the Demand for Identity Analytics Solutions in Germany
12.3.3 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.1.1 Increasing Adoption of Enterprise Mobility Solutions to Spur the Demand for Identity Analytics Solution in Asia Pacific
12.4.2 India
12.4.2.1 Expanding Identity Analytics Startup Ecosystem Across India
12.4.3 Australia and New Zealand
12.4.3.1 Increasing Instances of Identity-Related Theft and Fraudulent Activities to Proliferate the Demand for Identity Analytics Solutions Across Anz
12.4.4 Rest of Asia Pacific
12.5 Middle East and Africa
12.5.1 Middle East
12.5.1.1 Growing Awareness About Compliance Management to Boost the Growth of Identity Analytics Market Across the Middle East
12.5.2 Africa
12.5.2.1 Emergence of Technology Hubs Across Countries Such as Nigeria and Kenya to Drive the Growth of the Identity Analytics Market in the African Sub-Region
12.6 Latin America
12.6.1 Brazil
12.6.1.1 Rapid Surge in Web and Mobile-Based Applications to Increase the Demand for Identity Analytics Solutions in Brazil
12.6.2 Mexico
12.6.2.1 Integration of the Identity Analytics Solutions With the Traditional Identity and Access Management Solutions to Fuel the Growth of the Identity Analytics Market
12.6.3 Rest of Latin America

13 Competitive Landscape
13.1 Overview
13.2 Competitive Scenario
13.2.1 Partnerships, Agreements, and Collaborations
13.2.2 New Product Launches/Product Enhancements
13.2.3 Mergers and Acquisitions
13.2.4 Business Expansions

14 Company Profiles
14.1 Introduction
14.2 Oracle
14.3 Verint Systems
14.4 Logrhythm
14.5 Happiest Minds
14.6 Gurucul
14.7 Quantum Secure
14.8 Hitachi ID Systems
14.9 Sailpoint Technologies
14.10 Centrify
14.11 Prolifics
14.12 Anomalix
14.13 One Identity
14.14 Evidian
14.15 Brainwave GRC
14.16 ID Analytics
14.17 Nexis GmbH
14.18 Confluxsys
14.19 IDAX Software
14.20 Netiq
14.21 Okta
14.22 Novetta
14.23 Netowl
14.24 Traxian
14.25 Threatmetrix
14.26 Venafi

For more information about this report visit https://www.researchandmarkets.com/research/ggh3jf/1_billion?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

                    CONTACT: ResearchAndMarkets.com
                             Laura Wood, Senior Press Manager
                             press@researchandmarkets.com
                             For E.S.T Office Hours Call 1-917-300-0470
                             For U.S./CAN Toll Free Call 1-800-526-8630
                             For GMT Office Hours Call +353-1-416-8900