Identity Analytics Market Expected to Reach USD 3,619.8 Million by 2025 | Top Players such as - Evidian, Gurucul and Oracle

According to the report published by Allied Market Research, The Identity Analytics Market Expected to Reach USD 3,619.8 Million by 2025 | Top Players such as - Evidian, Gurucul and Oracle. 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.

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. On the basis of region, North America accounted for largest market share in 2017. The software industry is in a better position due to the adoption of technologies that enable remote working.

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The global identity analytics market size was valued at USD 512 million in 2017, and is projected to reach USD 3,619.8 million by 2025, growing at a CAGR of 27.8% from 2018 to 2025.

The global identity analytics market is segmented based on component, deployment, analytics type, analytics type, end user, and region. In terms of component, the market is bifurcated into software and services. Based on deployment, it is fragmented into on-premise and cloud. Depending on organization size, it is segregated into small and medium-sized enterprises (SMEs) and large enterprises. By analytics type, it is classified into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics. By industry vertical segment, it is divided into BFSI, telecom & IT, government, manufacturing, retail, healthcare, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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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.

The predictive analytics segment dominated identity analytics market share in 2017 and is projected to maintain its dominance during the forecast period. However, the prescriptive analytics segment is anticipated to witness the highest growth rate during the forecast period due to the rise in usage of machine learning and AI technologies in identity and access management solutions.

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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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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 specific sectors including hospitality, food, and others have seen a drop in revenue generation.

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