The global identity analytics market is anticipated to elevate with a 25.46% CAGR during the estimated period 2019-2027. The market is expected to generate a revenue of $2.21 billion by the end of 2027. The rising security concerns due to growing identity threats and the related cost is surging the demand for an identity analytics solution, thereby driving the growth of identity analytics market on a global scale.
The business organizations are implementing the identity analytics solutions in order to improve their Identity Access Management (IAM) systems. The enterprises are implementing the identity analytics solution to manage security administration requirements of all users along with the implementation of portal and personalization purpose, among others. Thus, the growing use of identity analytics for various business facilitations drives the market growth globally. Also, the growing security concerns because of rising cyber-attacks further stress on the requirement of identity analytics solutions. These factors accompanied by other elements are propelling the growth of the global identity analytics market.
On the basis of geography, the global identity analytics market is studied over few regions namely Europe, North America, Asia Pacific, and Rest of World region that includes remaining countries from Latin America and Middle East & Africa. The North America region is one of the most significant contributors to the global market. The changing trend of governance regulations and compliance of organizations to adhere to these regulations in the region is driving the identity analytics market of North America.
The North America identity analytics market has the presence of many companies which follow key corporate strategies to maintain a strong position in the market. The dominant firms focus on strategies like mergers & acquisitions, partnerships, new product launch, partnerships, and others to gain a competitive edge over each other.