Identity Analytics Market 2022 Latest Business Opportunities, Growth Statistics, Upcoming Trends, Demand Analysis and Forecast 2028

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Market Overview:

Wherever identity-related data exists, identity analytics tools use big data, artificial intelligence (AI), and machine learning (ML) technologies to crunch data from diverse sources and provide actionable knowledge. An organization can learn what resources their users have access to, see how they are using their access rights, track unusual user behavior, and determine if they should be given access based on contextual information, such as geolocation, device type, and so on, using advanced analytics and dynamic risk scores provided by identity analytics tools. All of this takes place in real-time. An identity analytics platform can also automate tasks like certifying access and resolving policy violations. Manually executing these operations is too time-consuming and labor-intensive, resulting in higher operational costs. Automating these processes makes compliance audits easier for businesses.

Major Key Players for Identity Analytics Market:

  • Quantum Secure
  • Hitachi Id Systems
  • Sailpoint Technologies
  • Nexis GmbH
  • Centrify
  • Anomalix
  • One Identity Oracle
  • Verint Systems
  • Symantec
  • LogRhythm
  • Happiest Minds
  • Gurucul
  • Evidian
  • Brainwave GRC

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Market Dynamics and Factors:

Many users in today’s firms have excessive access privileges. However, manually assessing each of these privileges takes time and might result in hasty, rubber-stamped approvals that ignore possible security risks. User behavior, application usage statistics, and peer group analysis are all used by identity analytics solutions to generate contextual risk scores for each user. Some technologies even provide risk scores at the entitlement level. Managers can be warned exclusively about high-risk user profiles using identity analytics software. This cuts down on the number of time managers have to devote to certification efforts. Managers can undertake more effective certifications since most identity analytics technologies provide a context-rich aggregated view of a user’s entitlement data collected from numerous systems and applications. When a SOD violation is found, identity analytics solutions can automatically limit access to an account and notify the IT security team. SOD infractions are quickly spotted, and the reason for each breach is discovered, thanks to identity analytics technologies. Managers will have a better understanding of their users’ account entitlements and access rights. When it comes to access requests, improved visibility helps managers make better judgments. As a result, this aspect contributes to the Identity Analytics market’s growth over the forecast period.

Identity Analytics Market Report Highlight:

  • By Component, Over the forecast period, the solution segment dominated and had the biggest market share. Advanced analytics and machine learning are used in these technologies to reduce the risk of identity theft.
  • By application, Over the projected period, the fraud detection category is expected to hold the largest market share. On the one hand, today’s enterprises must manage a significant number of access privileges for each user across multiple apps. Data breaches caused by stolen credentials, on the other hand, are at an all-time high. The identities and entitlements of an organization’s users are a key source of danger. Organizations require identity analytics to quickly explore and analyze the risk posed by user identities and associated entitlements.
  • By Industry Verticals, The IT and telecom category held the biggest market share during the projected period, since all firms produce a large quantity of data regularly, as well as the rising identity-based risk in the industry, which is beneficial for implementing identity analytics solutions.

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Key Industry Development:

  • In April 2020, IDentityUSA will begin offering various theft coverage plans for individuals and families with prices starting at USD 15.99 per month for up to USD 1,000,000 in recovery coverage.
  • In March 2020, Identity governance for IaaS platforms and workloads was released by SailPoint Technologies. To keep up with the digital transformation, businesses are adopting a multi-cloud platform approach across Azure, AWS, and Google Cloud. As a result, there is a rising need to regulate access to all of these platforms with a single identity solution.

Identity Analytics Market Segmentation:

By Component

  • Solution
  • Services

By Application

  • Fraud Detection
  • Account Management
  • Customer Management
  • GRC Management

By Industry Vertical

  • IT & Telecom
  • BFSI
  • Government & Défense
  • Energy & Utilities
  • Manufacturing
  • Others

For this report, Introspective Market Research has segmented the Identity Analytics Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

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Scope of the Report:

The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. Identity Analytics Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.

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