Identity analytics market to surpass $3.6 billion by 2025
The global market for identity analytics will grow at a 27.8 percent CAGR to reach $3.62 billion by 2025, according to a new report from Allied Market Research.
The extensively-titled “Global Opportunity Analysis and Industry Forecast, 2018-2025” report details the market for software and service components, on-premise and cloud deployments, different sizes of organizations and types of analytics, and industry vertical. It shows the market generated $512 million in revenues in 2017, and that it will surge on enterprise identity and access management needs, increasing need for access certification, and growing awareness of regulations, according to an announcement. Growth in the market will be hindered in underdeveloped countries due to IT infrastructure complexities, but adoption of artificial intelligence and machine learning technologies and increasing demand for mobile solutions are creating new opportunities.
Software will still lead services, though the latter will gain market share, and predictive analytics will maintain their lead in the analytic segment, even as prescriptive analytics grow 29.4 percent. Continuing the trend, North America is and will continue to be the region with the highest market share, but growth will be higher over the forecast period in Asia-Pacific, according to Allied.
Market leaders identified in the report include Evidian, Hitachi ID Systems, Gurucul, LogRhythm, Happiest Minds, Verint Systems, ID analytics (Symantec), Microsoft, NetIQ (Microfocus), and Oracle.
Gurucul recently updated its enterprise platform with pre-built machine learning models for advanced automation and step-up authentication capabilities.