Personal Identity Management Market to grow by USD 10.45 billion between 2022 – 2027 | Growth Driven by Rapid Growth of IoT Networks – Technavio

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 forecast period.
•  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 report.

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.

Related Reports:

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.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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