U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Identity analytics Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
Identity analytics provides a risk-based approach for managing system identities and access. It uses dynamic risk scores and advanced analytics to develop key indicators for automating account provisioning, de-provisioning, authentication, and privileged access management. Conversely, adoption of AI, machine learning technologies in identity analytics solutions, and rise in demand for mobility solutions and surge in identity theft are expected to provide lucrative opportunities for the growth of the global market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Identity analytics utilize big data, machine learning (ML), and artificial intelligence (AI) technologies to ingest and analyze huge amount of data and refine that data into actionable intelligence, enabling organizations to detect and react to quickly access. Identity Analytics provides enterprises with the ability to define and manage roles and automate critical identity-based controls. When the roles are defined, certified, and assigned, the identity analytics solution delivers scalable and viable identity governance and analytical solution during the user access lifecycle
Rise in adoption by enterprises to improve their identity and access management systems, growth in need of ensuring adaptive access certification by the enterprises, and increase in awareness about regulation and compliance management are some of the major factors that drive the global identity analytics market growth. In addition, surge in cases of data breaches and identity-related frauds are the factors expected to fuel the growth of the market. However, increase in complexity of the IT infrastructure and slow adoption of identity analytics solutions in the underdeveloped regions are the major factors that impede the market growth.
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The global identity analytics market is segmented based on component, deployment, organization size, analytics type, industry verticals, and region. In terms of component, the market is bifurcated into software and services. Based on deployment, it is fragmented into on-premise and cloud. Depending on organization size, it is segregated into small and medium sized enterprises (SMEs) and large enterprises. Based on analytics type, it is classified into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics. By industry vertical, it is divided into BFSI, telecom & IT, government, manufacturing, retail, healthcare, and others. Based on region, the identity analytics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Identity analytics Market:
The study presents an in-depth analysis of the global identity analytics market along with the current & future trends to elucidate imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market is provided in this study.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global identity analytics industry.
The quantitative analysis of the global identity analytics market from 2017 to 2025 is provided to determine the market potential.
Key Market Players
Evidian
Gurucul
Hitachi Id Systems
Happiest Minds
LogRhythm
ID analytics (Symantec)
Verint Systems
NetIQ (Microfocus)
Microsoft
Oracle
Identity analytics Key Market Segments:
By Component
Software
Services
By Deployment
On-Premise
Cloud
By Organization Size
Small & Medium Sized Enterprises (SMEs)
Large Enterprises
By Analytics Type
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
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By Industry Vertical
BFSI
Telecom & IT
Government
Manufacturing
Retail
Healthcare
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
Australia
Singapore
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Five Forces Analysis: To enhance market understanding, we conduct a comprehensive five forces analysis that includes evaluating the bargaining power of buyers and suppliers, the threat of new entrants, the threat of substitutes, and the level of rivalry within the market.
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