
Identity Analytics Market
According to Persistence Market Research, worldwide demand for identity analytics is set to skyrocket at a CAGR of 17.7% from 2022 to 2032. The report forecasts that the valuation of the global identity analytics market will reach US$ 5.82 Bn by 2032. Identity analytics is a solution that makes use of machine learning and artificial intelligence to monitor the behavior of employees on company devices; determine, provide, and revoke access rights; and also identify what devices they are using and their location, for the purpose of improving the identity access and management of the company.Companies such as IBM, Oracle, Evidian, Securonix, Confluxyx, Verint Systems offer identity analytics solutions and services. These identity analytics companies provide services and features such as data collection, identifying & classifying users, and identifying threats & violations. With the work-from-home culture continuing and rising global concerns about cyber threats, the market is expected to expand rapidly through 2032.
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Market Drivers
The purpose of identity analytics and identity access management is to find out which employees have access to what information of the company, what privileges they hold, what their permissions are and while working with their devices, whether they doing things that fall within company policies or not.
Since the pandemic hit, several companies have started accepting work-from-home as a method of work. This method, however, raises the threat of data breach and cyberattacks, which could damage enterprises. Through identity analytics, it can be observed whether employee actions are going beyond the safety policies of the company and whether necessary actions such as revoking permissions and identifying threats are required.
Recent Market Developments
In August 2022, Gurucul, an identity analytics vendor, announced that it will deploy a poly-cloud architecture service, multiple cloud deployments, and cross-cloud detection and response. The solution development will also include multi-cloud threat detection.
In June 2020, Novetta, an identity analytics solution provider, acquired WaveStrike, a software engineering and data analytics company, to improve the capabilities of its solutions and expand its customer base.
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More Valuable Insights on Offer
Persistence Market Research’s report on the identity analytics industry is segmented into five major sections – solution (identity analytics software: cloud-based, on-premise; services (professional services: consulting, support & maintenance, training & education; managed services)), application (customer management; fraud detection; governance, risk & compliance management; identity & access management; account management; others), organization size (large enterprises, SMEs), industry (IT & telecom, BFSI, logistics & transportation, hospitality, healthcare, others), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa).
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Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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