Identity Analytics Market Size and Growth Rate:
Identity Analytics Market Size was valued at USD 512 million in 2017 and is expected to reach USD 3,619.8 million by the end of 2025, with increasing at a CAGR of 27.8% from 2018 to 2025.
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Identity Analytics Market Overview:
Identity analytics is very important in IT technology to have complete protection from the threats. These machines will analyze functionality utilized in the management and increase the efficiency of identity. It predicts the risk of access and intimates to the manager where they under take the precautions and rectify the problem before it is going to happen. These systems are automatic and do not require man power to access the process. The identity analytics reduces the threats and also provide high security. They also detect fraud transactions by accessing certifications of the user and also through artificial intelligence.
Identity Analytics Market Growth Drivers and Restraints:
The growing prevalence of the identity-based access provision and authentication is majorly accelerating the growth of the market. In addition, the rapid increasing of cybercrime and hacking is surging the demand of the identity analytics market. The support from government in investment on the IT sector is also propelling the growth of the market.
However, lack of skilled people in monitoring the functionalities and accessing them effectively is slightly declining the growth of the market. Lack of standardization and rapid changes in the economic strategies are left as challenging factors in this market.
The increased demand to have secure users from unauthorized access is setting up the growth opportunities for the market. Implementation of strict rules by government to enhance the efficiency to lower the infrastructure costs is lavishing the demand of the identity analytics market.
Geographical Overview of Identity Analytics Market:
Geographically, the market is segmented into Asia Pacific, North America, Europe, Middle East and Africa. Asia Pacific is holding highest revenue shares of the market. The quick adoption of latest technological developing and launching different software to analyze access securely is boosting up the demand of the market. Following Asia Pacific, North America is witnessed in leading the dominant shares of the market with the increased industrialization and also rise in the threats from unauthorized users. Europe is next in leading the shares of the market with the rise in support from government in investments and also increased scale of IT industries. Middle East and Africa are projected to have fastest growth rate in the coming years.
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Key Players of Identity Analytics Market:
Some of the prominent players included in the identity analytics market are Oracle (US), Verint Systems (US), LogRhythm (US), Quantum Secure (US), NetIQ (US), Hitachi ID Systems (Canada), SailPoint Technologies (US), Happiest Minds (India), Gurucul (US), Centrify (US), One Identity (US), Evidian (US), Brainwave GRC (France), and so on.
Identity Analytics Market Segmentation:
By Organization Type:
· Small and Medium Enterprises
· Large Enterprises
By Analytics Type:
· Descriptive Analytics
· Diagnostic Analytics
· Predictive Analytics
· Prescriptive Analytics
· Telecom and It
· North America
· South America
· Asia Pacific
· Middle East and Africa
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