Personal Identity Management Market Report 2020-2025 | Global Industry Share, Size, Leading Key Players, Growth, Outlook and Business Opportunity

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According to the latest report by IMARC Group, titled “Personal Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global personal identity management market size reached US$ 10.3 Billion in 2019. Personal identity management (PIM) involves numerous algorithms and set of standards that aid in managing the information and resources of a particular organization in a secure manner. The process also helps organizations and individuals in controlling the usage and sharing of sensitive data with third party users. It is usually achieved by using distinct identities and credentials for authentication purposes. PIM ensures efficient detection of unauthorized access and prevents anyone from gaining access to private information without the permission of the original user. Apart from this, the process is also widely used by corporations for monitoring and verification purposes.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Some of the major key players operating in the Personal Identity Management Market include: IBM Corporation, VMware, Inc., Broadcom Inc., Microsoft Corporation, Oracle Corporation, Okta, Inc., Hitachi ID Systems, Inc., Dell Technologies, Inc., Micro Focus International plc, SailPoint Technologies, Inc., OneLogin, Inc., Centrify Corporation, Experian Information Solutions, Inc., and AO Kaspersky Lab.

Global Personal Identity Management Market Trends:

The global market is primarily driven by the growing incidences of online security breaches. The rates and severity of cyberattacks across the globe are increasing, which has facilitated rising investments in cybersecurity. In order to safeguard their sensitive data, organizations are therefore increasingly adopting PIM solutions, which is creating a positive outlook for the market. This is further being facilitated by favorable government regulations pertaining to the security of personal data. The growing adoption of the Internet of Things (IoT) across numerous sectors is acting as another major growth-inducing factor. The use of IoT in PIM solutions significantly aids in identifying devices, sensors and monitors, thereby ensuring efficient management of private information, including biometrics, email ID or tokens. Furthermore, large corporations and organizations are adopting PIM as it allows users to access the interconnected systems, even when working remotely. Constant technological advancements, the growing adoption of cloud computing and the advent of automated meter infrastructure are some of the other factors contributing to the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 19.6 Billion by 2025, growing at a CAGR of 11.2% during the forecast period (2020-2025).

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Key Market Segmentation:

Market Breakup by Component:

Based on the component, the market has been divided into applications (access control and content management) and services (professional and managed services).

Market Breakup by Deployment Type:

On the basis of the deployment type, the market has been bifurcated into on-premises and cloud.

Market Breakup by Data Type:

On the basis of the data type, the market has been segmented into behavioral, individual identity, derived, and self-identified data.

Market Breakup by Industry Vertical:

Based on the industry vertical, the market has been classified into IT and telecom, banking, financial services, and insurance (BFSI), energy and utilities, consumer goods and retail, and others.

Market Breakup by Region:

On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and Others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and Others).

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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The post Personal Identity Management Market Report 2020-2025 | Global Industry Share, Size, Leading Key Players, Growth, Outlook and Business Opportunity appeared first on Super Market Research.


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