Global Identity Analytics Market

Global Identity Analytics Market Size, Share, Growth Analysis, By Component(Solutions, and Services), By Deployment(On-premise, and Cloud) - Industry Forecast 2024-2031

Report ID: SQMIG45B2068 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 61 | Figures: 75

Global Identity Analytics Market Competitive Landscape

The global identity analytics market is highly competitive in nature, with several key players vying for majority of the market share and offering a wide range of identity analytics solutions. These companies are focused on innovation, strategic partnerships, and expanding their product portfolios to cater to the evolving needs of organizations in managing identity and access management effectively. The competitive landscape of the Identity analytics market is characterized by intense competition, technological advancements, and a focus on delivering comprehensive solutions that help organizations effectively manage identity and access management. The key players mentioned above are at the forefront of this competitive landscape, driving innovation and providing organizations with robust identity analytics solutions to address evolving security challenges.

Identity Analytics Market Top Player’s Company Profiles

  • SailPoint Technologies Holdings, Inc. (US)
  • Microsoft Corporation (US)
  • RSA Security LLC (US)
  • NetIQ Corporation (US)
  • Okta, Inc. (US)
  • SecureAuth Corporation (US)
  • Exabeam, Inc. (US)
  • CyberArk Software Ltd. (Israel)
  • One Identity LLC (US)
  • LogRhythm, Inc. (US)
  • Ping Identity Corporation (US)
  • Gurucul Solutions LLC (US)
  • Centrify Corporation (US)
  • Evidian (France)
  • Balabit Corp. (Hungary)
  • BeyondTrust Corporation (US)
  • Securonix, Inc. (US)

Identity Analytics Market Recent Development

  • In January 2024, Options Technology, a top provider of cloud services for finance, teamed up with OneMarketData and their main product, OneTick. This partnership lets OneTick users tap into Options' large market data collection, covering stocks, currencies, futures, options, and bonds, along with advanced analytics tools. 
  • In December 2023, TheMathCompany, also known as MathCo®, a major name in Enterprise AI and analytics, joined forces with LiveRamp, a vital player in data sharing. This partnership intends to revolutionize how big businesses handle marketing analytics. 
  • In December 2023, Beacon Platform, a one-stop platform for developers in finance, collaborated with ActiveViam, a top provider of advanced analytics for finance. This partnership made possible through the Beacon App Store, will give traders access to Beacon's collaborative platform and ActiveViam's powerful analytics engine. They plan to offer better experience and risk management for complex trading portfolios. 
  • In November 2023, Tech Mahindra, a top provider of digital services, held hands with Amazon Web Services (AWS) to create a sports cloud platform. This platform is designed to develop advanced digital tools for sports associations and give exciting and personalized experiences for sports fans around the globe. 
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FAQs

Global identity analytics market size was valued at usd 20.67 billion in 2022 and is poised to grow from usd 21.58 billion in 2023 to usd 30.45 billion by 2031, at a CAGR of 4.4% during the forecast period (2024-2031).

The global identity analytics market is highly competitive in nature, with several key players vying for majority of the market share and offering a wide range of identity analytics solutions. These companies are focused on innovation, strategic partnerships, and expanding their product portfolios to cater to the evolving needs of organizations in managing identity and access management effectively. The competitive landscape of the Identity analytics market is characterized by intense competition, technological advancements, and a focus on delivering comprehensive solutions that help organizations effectively manage identity and access management. The key players mentioned above are at the forefront of this competitive landscape, driving innovation and providing organizations with robust identity analytics solutions to address evolving security challenges. 'IBM Corporation (US)', 'SailPoint Technologies Holdings, Inc. (US)', 'Oracle Corporation (US)', 'Microsoft Corporation (US)', 'Broadcom Inc. (Symantec Corporation) (US)', 'RSA Security LLC (US)', 'NetIQ Corporation (US)', 'Okta, Inc. (US)', 'SecureAuth Corporation (US)', 'Exabeam, Inc. (US)', 'CyberArk Software Ltd. (Israel)', 'One Identity LLC (US)', 'LogRhythm, Inc. (US)', 'Ping Identity Corporation (US)', 'Gurucul Solutions LLC (US)', 'Centrify Corporation (US)', 'Evidian (France)', 'Balabit Corp. (Hungary)', 'BeyondTrust Corporation (US)', 'Securonix, Inc. (US)'

In 2022, organizations are increasingly adopting the Zero Trust security framework, which focuses on verifying and validating every user and device before granting access to resources. This approach requires advanced identity analytics solutions to continuously monitor user behavior, analyze access patterns, and detect anomalies in real-time. The implementation of the Zero Trust model is driven by the rising number of cyber threats and the need for stronger authentication and access controls. It fuels the demand for identity analytics solutions that provide granular visibility and insights into user activities, enabling organizations to implement robust security measures.

Adoption of Artificial Intelligence and Machine Learning: Artificial Intelligence (AI) and Machine Learning (ML) technologies are playing a crucial role in shaping the Identity analytics market in 2022. AI-powered identity analytics solutions can analyze vast amounts of identity data, detect patterns, and identify anomalies or suspicious activities in real-time. Machine learning algorithms can continuously learn from user behavior and adapt to evolving threats, enhancing the accuracy of identity analytics solutions. These technologies enable organizations to detect identity-based risks, such as insider threats and unauthorized access, and take proactive measures to mitigate them. In 2022, the integration of AI and ML capabilities into identity analytics solutions is expected to drive more accurate and efficient identity risk management.

North America has a strong presence in the market and therefore emerged dominant in 2022 due to the high adoption of advanced technologies and the presence of several key players in the region. The United States, in particular, holds a significant share of the market, driven by the increasing focus on cybersecurity and compliance regulations. The region's advanced IT infrastructure, coupled with the need for robust identity and access management solutions, contributes to the dominance of North America in the global market.

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