Personal Identity Management Market to grow by USD 10.45 billion between 2022 - 2027 | Growth Driven by Rapid Growth of IoT Networks - Technavio
Saturday, September 23, 2023
NEW YORK, Sept. 20, 2023 /PRNewswire/ -- The Personal Identity Management Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the personal identity management market between 2022 and 2027 is USD 10.45 billion. The rapid growth of IoT networks drives the personal identity management market growth. IoT allows connections and exchanges of data between objects, and in view of the increasing demand for Internet of Things products, there is strong pressure on Internet service providers to introduce them into the market. Furthermore, the negligence of access control, security, and privacy management results in this situation. Additionally, an aggregated view of the customer allows personalized engagement and consistent customer experiences at every channel and device to increase loyalty. Hence, such factors drive the growth of the personal identity management market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
-- Market Challenge - Threat from open-source personal identity management
solutions challenges the growth of the personal identity management
market. In countries like India and China, there is a growing interest
in open-source solutions for the management of personal identities that
can be downloaded and run on all platforms. Furthermore, businesses can
save on upfront costs and be able to take advantage of more flexibility
with the use of open-source private identity management solutions.
Hence, such advantages will enable open-source personal identity
management solutions to be widely used by small enterprises, in turn,
hindering market growth during the forecast period. Learn about
additional key drivers, trends, and challenges available with Technavio.
Read a Sample PDF Report Now
The personal identity management market is segmented by End-user (BFSI, Government, Telecom and IT, Retail and consumer goods, and Others), Deployment (On-premise and Cloud-based), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
-- The BFSI segment will be significant during the forecast period. Given
the several implementation technologies and architectures, the
information stays in silos and thus, it is now necessary for BFSI
organizations to develop strategies that take cumulative data into
account so as to ensure their protection against cyber threats.
Consequently, there is a large demand for personal identity management
solutions in the sector. Hence, such factors drive the growth of the
BFSI segment of the personal identity management market during the
-- North America will contribute 30% to the growth of the global market
during the forecast period. View a Sample Report for insights into the
contribution of all the segments and regional opportunities in the
Key Companies in the Personal Identity Management Market:
AO Kaspersky Lab, Avatier Corp., Broadcom Inc., Constellation Software Inc., CyberArk Software Ltd., Delinea Inc., Dell Technologies Inc., Experian Plc, ForgeRock Inc., International Business Machines Corp., Microsoft Corp., Okta Inc., Open Text Corp., Oracle Corp., Ping Identity Corp., Quest Software Inc., SailPoint Technologies Inc., Salesforce Inc., Thales Group, Zoho Corp. Pvt. Ltd.
The identity (ID) verification market size is estimated to grow at a CAGR of 16.18% between 2022 and 2027. The market size is forecast to increase by USD 10,813.97 million. This identity verification market report extensively covers market segmentation by component (solutions and services), type (large enterprises, small, and medium-sized enterprises (SMEs)), and geography (North America, APAC, Europe, South America, and Middle East and Africa). An increase in digitalization with electronic ID cards (eID) and smart infrastructure initiatives is the key factor driving the growth of the market.
The Identity and Access Management (IAM) Market is estimated to grow at a CAGR of 12.5% between 2022 and 2027. The market size is forecasted to increase by USD 12,736.24 million. This IAM market report extensively covers market segmentation by end-user (large enterprises, government organizations, and SMEs), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The rapid growth of Internet of Things (IoT) networks is notably driving market growth.
Personal Identity Management Market Scope
Base year 2022
Growth momentum & CAGR Accelerate at a CAGR of 12.74%
Market growth 2023-2027
USD 10.45 billion
YoY growth 2022-2023 (%) 11.57
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution North America at 30%
US, China, Japan, Germany, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled AO Kaspersky Lab, Avatier Corp., Broadcom Inc., Constellation Software Inc., CyberArk Software Ltd., Delinea Inc., Dell
Technologies Inc., Experian Plc, ForgeRock Inc., International Business Machines Corp., Microsoft Corp., Okta Inc., Open
Text Corp., Oracle Corp., Ping Identity Corp., Quest Software Inc., SailPoint Technologies Inc., Salesforce Inc., Thales
Group, and Zoho Corp. Pvt. Ltd.
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19
impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Deployment
Market Segmentation by Geography
Drivers, Challenges, & Trends
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