Identity Management and Control Market to Witness Growth Acceleration During 2019 - 2029

Identity management and control is used to manage enterprise resources to keep systems and data secure. It is a security architecture system of an organization which verifies users' identities before granting them the right level of access to workplace systems and information. Identity management and control is used to link authentication, sales, consumer management, and business intelligence and services. Besides, through identity management and control, enterprises or organizations provide an excellent digital experience to consumers, by also focusing on offering personalized services to consumers.

Identity management and control offers a combination of various features that includes consumer registration, preference management, self-service account management, multi-factor authentication (MFA), single sign-on (SSO), directory services, access management, and data access governance. Identity management and control is a digital identity management software and service that combines login- verification with consumer data storage in order to improve the customer's sign-up and login experience while securely managing customer identities.

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The global identity management and control market is projected to expand at a rapid pace during the forecast period, due to increasing adoption of Software-as-a-Service (SaaS) based identity management and control among organizations across the globe.

Global Identity Management and Control Market: Key Drivers and Restraints

Increasing demand to identify and manage various functions such as store information, authentication and authorization, external user registration & enrolment, internal user enrolment, auditing, and central administration among organizations is expected to boost the identity management and control market during the forecast period globally. Increasing need for identity management and control for IoT is expected to boost the market during the forecast period.

Increasing adoption of cloud-based identity management and control solutions and services is anticipated to fuel the market. Increasing awareness about compliance management has pushed the demand for identity management and control.

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Rising incidence of security breaches and cyber-attacks across the globe is also estimated to propel the global identity management and control market during the forecast period.

However, lack of identity standards and budgetary constraints in deploying identity management and control solutions are major factors anticipated to hinder the identity management and control market during the forecast period.

Impact of COVID-19 on the Global Identity Management and Control Market

COVID-19 is likely to have a significant positive impact on the global identity management and control market in the short-term period. During the pandemic outbreak, consumer identity and access management re-evaluates the security safeguards that can be adapted across enterprises, to reduce the impact of cyber-attacks. Furthermore, identity management and control is used by enterprises during the pandemic outbreak for accessing the acute systemic changes in consumer and business behavior.

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North America to Hold Major Share of the Global Identity Management and Control Market

In terms of region, the global identity management and control market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global identity management and control market in 2019, due to the significant adoption of identity management and control in the region. North America is considered to be the most advanced region with regards to cutting edge security technology adoption and infrastructure. The U.S. is the key market for identity management and control.
The identity management and control market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing awareness and adoption of security solutions across enterprises especially in emerging economies such as China, India, and Australia, which is anticipated to increase the adoption of identity management and control in the region.
Global Identity Management and Control Market: Competition Landscape

Several local, regional, and international players are active in the identity management and control market with a strong presence. Rapid technological advancements have led to opportunities in the global identity management and control market. Identity management and control vendors are focusing on inorganic growth strategies such as strategic collaborations and merger and acquisition activities with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.

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Key Players Operating in the Global Identity Management and Control Market Include:

CA Technologies (Broadcom Inc.)
Centrify Corporation
Dell Technologies Inc.
Gemalto NV (Thales Group)
IBM Corporation
Micro Focus International plc.
Microsoft Corporation
NICE Systems Ltd.
Okta, Inc.
OneLogin, Inc.
Oracle Corporation
Verato, Inc.

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