Personal Identity Management Market Scope
PIM refers to the basic standards, rules, and algorithms that enable users to restrict the utilization or sharing of data without the consent of the actual user. It is majorly applicable for the banking sector, where every individual account holder’s information is to be kept confidential. BFSI segment is the dominating segment to remain witness high growth and remain an attractive part of the global personal identity management market.PIM opposes any third-party user to take access to any private information or data without the consent of the original user.
The global industry is fragmented due to the presence of several large and small competitors. The competitive landscape is anticipated to witness several strategies for consolidation such as partnerships, mergers & acquisitions, and solution upgrades during the forecast timeframe. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Personal Identity Management market throughout the predicted period.
IBM Corporation (United States), Microsoft Corporation (United States), VMware, Inc. (United States), CA Technologies (United States), Oracle Corporation (United States), Dell Software (United States), Okta, Inc. (United States), Hitachi Id Systems, Inc. (Canada), Netiq. (United States) and Sailpoint Technologies, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Ping Identity (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Personal Identity Management market , by Application (Access control and Content management) and Region with country level break-up.
On the basis of geography, the market of Personal Identity Management 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).
Market Leaders and their expansionary development strategies
In 2020, Ping Identity, a developer of intelligent identity management for enterprises, has acquired ShoCard, a startup focused on blockchain-based security, and unveiled plans to bring that technology to market next year integrated with Ping’s security platform.
iN 2018, Okta, Inc., the leading independent provider of identity for the enterprise, and VMware, Inc., a leading innovator in enterprise software, announced a partnership and integration between VMware Workspace ONE and the Okta Identity Cloud, intending to enable customers to easily and more securely move to the cloud, leverage existing technology investments and simplify IT management.
FISMA (Federal Information Security Management Act) is a U.S. legislation that explains a comprehensive structure to protect government operations, information, and assets to entertain the usage of these solutions.
Market Trend
- Increased Demand for Cloud-based Deployments
Market Drivers
- Protection from Increasing Security Breaches and Unauthorized Access to Sensitive Data
- Growing Trend of Bring Your Own Device
- Growing Demand from Banking, Telecommunication, IT Industries, and Others Industry Verticals
Opportunities
- Increasing Adoption of Cloud and Identity-As-A-Service
- Growing Market via Hybrid Model
Restraints
- Disappointment from the Existing Defense Mechanism
Challenges
- Need for Meeting the Requirements of the Internet of Things
Key Target Audience
Security solution vendors, Security service providers, System integrators, Consulting firms, Research organizations, Resellers and distributors and Technology partners