Personal Identity Management Market Trends and Opportunity Analysis | Top Players Such as - VMware, Experian and Kaspersky

According to the report published by Allied Market Research, The Personal Identity Management Market Trends and Opportunity Analysis | Top Players Such as - VMware, Experian and Kaspersky. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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.

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Personal Identity Management Market was valued at USD 7,896, and is expected to reach USD 23,039 million by 2022, supported by a CAGR of 16.7%.

The global personal identity management market is segmented on the basis of application, service, deployment, data type, industry vertical, and geography. Based on application the market is divided into content management and access control. Professional services including implementation, training & support, and consulting and managed services are provided in the personal identity management market. Based on the type of deployment, the market is further categorized into cloud and on premise. The personal identity management market is segmented on the basis of data type such as behavioral data, individual identity data, derived data, and self-identified data. The industry vertical segment of the market includes IT & telecom, banking, financial services, and insurance (BFSI); energy & utility; consumer goods & retail; and others (manufacturing, education, public sector, and media & entertainment). The personal identity management market is segmented based on four regions, which include North America, Europe, Asia-Pacific, and LAMEA.

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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 an 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 the 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.

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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.

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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.

● The 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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