According to the latest report by IMARC Group, titled “Personal Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global personal identity management market size reached a value of US$ 11.5 Billion in 2020. Looking forward, IMARC Group expects the global personal identity management market to exhibit strong growth during 2021-2026. 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.Request Free Sample Report: https://www.imarcgroup.com/personal-identity-management-market/requestsample
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.
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Competitive Landscape with Key Player:
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.
AO Kaspersky Lab.
Breakup by Component:
Applications
Access Control
Content Management
Services
Professional Services
Managed Services
Breakup by Deployment Type:
On-Premises
Cloud
Breakup by Data Type:
Behavioral Data
Individual Identity Data
Derived Data
Self-Identified Data
Breakup by Industry Vertical:
IT and Telecom
Banking, Financial Services, and Insurance (BFSI)
Energy and Utilities
Consumer Goods and Retail
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America.
Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain