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Identity analytics Market Trend, Innovation | Evidian, Gurucul, Hitachi Id Systems, Happiest Minds, LogRhythm
Identity analytics Market
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Rise in adoption by enterprises to enhance identity and access management systems, rise in need to avail access certification, and increase in awareness regarding management of regulations and compliance drive the growth of the market. Whereas, increase in complexities of IT infrastructure and slow rate of adoption of advanced analytics solutions in underdeveloped countries restrain the growth to certain extent. Nevertheless, adoption of machine learning technologies and artificial intelligence for identity analytics solutions and rise in demand of mobility solutions create lucrative opportunities in the coming years.
The global identity analytics market is segmented on the basis of component, deployment, analytics type, analytics type, end user, and region. Based on component, the software segment accounted for more than two-thirds of the total market share in 2017. On the other hand, the services segment is expected to grow at the highest CAGR of 33.2% from 2018 to 2025.
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Impact of COVID-19 Pandemic on Identity Analytics Market:
• The software industry is in a better position due to the adoption of technologies that enabled remote working. In addition, the industry has witnessed a rise in demand for certain applications amid COVID 19.
• However, yet certain software sectors have been through several difficulties. The SaaS companies that supply to specific sectors including hospitality, food, and others have seen a drop in revenue generation.
On the basis of region, North America accounted for nearly two-fifths of the total market share in 2017, and will maintain its dominant position throughout the forecast period. On the contrary, Asia-Pacific would grow at the highest growth rate, registering a CAGR of 30.7% from 2018 to 2025.The report also analyzes regions including Europe and LAMEA.
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.
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