The global personal identity management market generated a revenue of $7,896 in 2015, and is expected to garner $23,039 million by 2022, growing at a CAGR of 16.7%. The BFSI segment is expected to dominate the market during the forecast period. Asia-Pacific is expected to generate the maximum revenue globally.
Increase in the utilization of devices such as smartphones, tablets, and laptops fueled the growth of the personal identity management trend. In addition, rise in incidents of cyberattacks and data security initiatives taken by governments are expected to drive the personal identity management market growth. However, complex and time-consuming security procedures restrain the growth of personal identity management solutions. Rise in trend of Internet of Things (IoT) among industries such as media & entertainment, banking, manufacturing, IT & telecom, and others is expected to provide numerous opportunities for the growth and development of the global personal identity management industry.
In 2015, BFSI segment generated the maximum revenue owing to the surge in demand for identity management solutions from finance companies to secure customer data and frequent incidents of Internet frauds during financial transactions worldwide. The retail & consumer goods segment is expected to grow at the fastest rate during the forecast period due to increase in interaction of end users in this sector through various methods, including web browsers, mobile browsers, and mobile apps. The access control application segment of the global personal identity management market is projected to show highest growth rate, registering a CAGR of 17.5%. On-premise deployment type segment is expected to generate the highest revenue throughout the forecast period. Self-identified data type is anticipated to grow at the fastest rate during the study period.
In 2015, North America dominated the personal identity management market. Asia-Pacific is expected to grow at the fastest rate during the forecast period due to increase in incidents of cyberattacks and continuous economic development among various countries such as India, Malaysia, China, and Singapore.
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Prominent players operating in the market include IBM Corporation, VMware, Inc., CA Technologies, Microsoft Corporation, Oracle Corporation, OneLogin, Inc., Centrify Corporation, CA Technologies, Experian Inc., and Kaspersky Lab.
- The study provides an in-depth analysis of the personal identity management market along with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities along with their impact analysis on the personal identity management industry is discussed.
- Porter’s Five Forces analysis of the personal identity management industry illustrates the potency of buyers and suppliers participating in the personal identity management market.
- The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the personal identity management market potential.
- The market shares and key strategies of market players has been comprehensively analyzed in the report.
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Personal Identity Management Market Key Segments
The global personal identity management market is segmented based on application, services, deployment type, data type, industry vertical, and geography.
- Content management
- Access control
- Professional services (implementation, training and support, and consulting)
- Managed services
By Deployment Type
By Data Type
- Behavioral data
- Individual identity data
- Derived data
- Self-identified data
By Industry Vertical
- IT and telecom
- Banking, financial services, and insurance (BFSI)
- Energy and utilities
- Consumer goods and retail
- Others (manufacturing, education, public sector, media and entertainment)
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This post was originally published on Trading Herald