About Identity Management Solutions
In today’s time, identity management solutions are gaining much popularity in the various sectors. The solutions are primarily used to protect or enhance security in the infrastructures and confidential areas. Growing trend of digitalization across the globe has led organizations to adopt the digital system to keep record of employees and people who have visited to the facility. However, increased concern to protect employees and assets of organization, record entry & exit of the employees, and restrict unauthorized access to the confidential places have increased the demand for identity management solutions across the globe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Identity Management Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Thales Group (France), SailPoint Technology (United States), ForgeRock (United States), Microsoft (United States), Oracle Corporation (United States), CyberArk (United States) and Cisco Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Okta (United States) and Auth0 (United Stated).
Segmentation Overview
AMA Research has segmented the market of Global Identity Management Solutions market by , Application (Commercial, Residential, Industrial and Others) and Region.
On the basis of geography, the market of Identity Management Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vertical, the sub-segment i.e. IT & Telecom will boost the Identity Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Identity Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Method, the sub-segment i.e. Biometrics will boost the Identity Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Trend of Biometric Identity Methods Due to Its Uniqueness
Market Growth Drivers:
Increased Demand to Protect Critical Areas or Rooms in Industries, Provide Enhanced Protection to Employees and Track the Access of People inside the Infrastructure and Increasing Identity Related Frauds in Various Sectors Especially in BFSI
Challenges:
Slow Adoption of Identity Management Solutions by SMEs
Restraints:
Increased Concern of Privacy and Theft of Personal Data of Users
Opportunities:
Increasing Adoption of Advanced Technologies to Keep Record of Entry and Exit of Employees
Market Leaders and their expansionary development strategies
In May 2020, CyberArk, a global leader in identity and access management solutions acquired the US-based Santa Clara to deliver modern identity platform with a security-first approach. The acquisition will allow CyberArk to extend its ability to manage and protect identities with various levels of privileges across hybrid & multi-cloud environments, and enable customers to improve their overall security posture with a more efficient and seamless user experience.
In July 2020, Unisys launched a new version of its biometric identity management software Stealth(identity). The software is highly scalable, brings flexibility, and provides strong security to the enterprises for biometric management process. Stealth strengthens defense against identity fraud by establishing trusted and irrefutable identities of individuals across multiple physical and digital channels.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Identity Management Solutions Providers, Cloud solutions and services providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.