Personal Identity Management Market Accelerates with Significant Growth by 2022

Personal Identity Management Market is expected to garner $23,039 million by 2022, growing at a CAGR of 16.7%. The personal identity management market helps organizations in securing and managing huge digital and non-digital data of customers and employees. Personal identity management systems store customer profile data and enable organizations in marketing their products and services and also provide a secure, unified, and enhanced customer experience. Personal identity management solutions are applicable for securing and maintaining customer profile database, authentication while accessing services of a company by customers, and others.

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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.

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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.

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.

Key Findings of the Personal Identity Management Market:

• In 2015, the BFSI segment dominated the overall personal identity management industry, in terms of revenue, and is projected to grow at a CAGR of 17.3% during the forecast period.
• Retail & consumer goods industry segment is projected to grow at a CAGR of 19.3%.
• Access control application segment is projected to show highest growth rate, in terms of revenue, in the study period.
• The cloud deployment segment is anticipated to grow at a CAGR of 17.8%.
• In 2015, the behavioral data type segment generated the highest revenue.
• In 2015, North America dominated the global market.

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