The Global [FURL=https://www.industryarc.com/Research/Personal-Identity-Management-Market-Research-500670]Personal Identity Management Market[/FURL] is estimated to reach $19.4 billion by 2025, growing at a CAGR of 16.9% from 2020 to 2025. The personal identity management solutions are the standards and algorithms through which confidential information can be shared with other individuals and organizations by employees of an organization or the organization itself. Through the use of personal identity management mediators are unable to access all the private data and information without the knowledge of the actual user. The ever increasing threat of data exfiltration, rising governmental regulatory requirements affecting companies of all sizes and rising adoption of cloud based networking are driving the growth of the market.Key Takeaways
Rise in cyber-attacks, cyber threats, APIs, Trojans and other malicious software that steal private data have led to the upsurge of PIM tools by the various enterprises.
Cloud based PIM solutions are dominating the market owing to the rise in cloud networking and cloud based mobile apps integration globally.
North America is witnessing a significant growth in the market due to the adoption of PIM tools in BFSI sector. Furthermore, increasing penetration of high speed internet and growth of smart and connected devices for growing security needs have driven the market growth in this region.
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Personal Identity Management Market Segment Analysis - By Geography
Global Personal Identity Management Market is dominated by North America region with a market share 38% in 2019. The developed economies and the huge BFSI sector in the North America region are more vulnerable towards the data theft, cyber-attacks and other financial data stealing. These factors have projected the demand for installation of PIM tools in these these enterprises. The increased regulations and new expectations for corporate governance are also continuously fueling the growth of PIM tools in the North America region. PIM supports top-line growth and business expansion by enabling better and more efficient product information, which in turn creates better customer and brand experiences across all sales channels.
Personal Identity Management Market Drivers
Rise in adoption of more secure and integrated software technologies for business applications:
Growth in cyber threats and cyber-crime and risks along with growth in cloud computing:
Personal Identity Management Market Landscape : Personal Identity Management Market is dominated by major companies such as IBM Corporation, Oracle Corporation, Microsoft Corporation, CA Technologies, Okta Inc., OneLogin Inc., Expterian Inc., Kaspersky Lab, VMWare Inc, Centrify Corporation among others.
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