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Personal Identity Management Market To Reach US$ 33.7 Billion by 2027 | CAGR of 13.89%

Personal Identity Management Market

Personal Identity Management Market

SHERIDAN, WY, UNITED STATES, July 19, 2022 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Personal Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global Personal Identity Management Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global personal identity management market size reached US$ 15.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 33.7 Billion by 2027, exhibiting a growth rate (CAGR) of 13.89% during 2022-2027.

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.

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.

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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.

Global Personal Identity Management Market 2022-2027 Analysis and Segmentation:

Competitive Landscape with Key Players:

• 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

o Access Control
o Content Management

• Services

o Professional Services
o 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 (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

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.

Elena Anderson
IMARC Group
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