GITNUX MARKETDATA REPORT 2024

Identity Analytics Industry Statistics

Identity analytics industry is expected to continue growing rapidly due to increasing concerns around data security and privacy.

Highlights: Identity Analytics Industry Statistics

  • Global Identity Analytics Market is set to achieve a remarkable valuation of $3.62 billion by 2027.
  • The Identity Analytics market is expected to grow at a CAGR of 30.3% between 2019 and 2024.
  • As per 2018, banking, financial, and insurance (BFSI) sectors accounted for over 32% of identity analytics adoption.
  • North America emerged as the leading region in 2018, capturing 42% share in the global Identity Analytics market.
  • By 2023, 20% of large enterprises are expected to adopt identity analytics.
  • The user authentication segment held a significant share of the Identity Analytics market in 2018.
  • Predictive identity analytics is expected to grow at the highest CAGR during the forecast period.
  • In 2019, over 60% of Identity Analytics solution implementation had been in the cloud.
  • By 2024, APAC is expected to experience the highest growth rate in the Identity Analytics market.
  • Identity analytics in healthcare is anticipated to grow at the fastest rate, with a CAGR of 35%, during the forecast period.
  • The US will continue to have the highest revenue in the identity analytics market globally till 2022.
  • The global Identity Analytics market was valued at $245 million in 2016.
  • The on-premise deployment of identity analytics solutions is expected to decline by 2% by 2022.
  • Fortune 500 companies' investments in identity analytics are estimated to grow by around 30% by 2023.
  • Growth in security and privacy concerns is propelling the Identity Analytics market towards a 31.3% CAGR over the forecast period.
  • SMEs are expected to register the highest growth rate in the adoption of identity analytics.
  • Identity analytics solutions are anticipated to register a significant growth rate with approximately 10% in the retail & e-commerce industry by 2024.
  • The increase in demand for mobility solutions is a driving factor for the growth of the identity analytics market, which is estimated at a rate of 20% CAGR.
  • The data mining technique is projected to dominate the Identity Analytics Market by 2023.
  • The market in Latin America is expected to grow at a CAGR of 32.1% from 2019 to 2027.

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In today’s digital age, the importance of understanding and managing identities within organizations has never been more critical. Identity analytics has emerged as a powerful tool to help businesses make informed decisions based on data-driven insights related to user identity and behavior. In this blog post, we will explore key industry statistics pertaining to identity analytics and its impact on modern businesses.

The Latest Identity Analytics Industry Statistics Explained

Global Identity Analytics Market is set to achieve a remarkable valuation of $3.62 billion by 2027.

The statistic stating that the Global Identity Analytics Market is expected to reach a valuation of $3.62 billion by 2027 implies a significant growth and expansion in the market segment focused on utilizing analytics to manage and leverage identity-related data. This forecast suggests a robust demand for identity analytics solutions that offer organizations the ability to effectively analyze and manage diverse sets of identity data to enhance security, compliance, and user access management. The projected valuation indicates a growing recognition of the importance of leveraging advanced analytics tools to extract valuable insights from identity data, signifying a promising future for the identity analytics market.

The Identity Analytics market is expected to grow at a CAGR of 30.3% between 2019 and 2024.

This statistic indicates that the Identity Analytics market is projected to experience substantial growth over the period from 2019 to 2024, with a Compound Annual Growth Rate (CAGR) of 30.3%. The CAGR represents the annual average rate of growth for the market during this timeframe. A CAGR of 30.3% suggests a rapid expansion in market size and adoption of identity analytics solutions over the specified period. This growth rate indicates a strong demand for identity analytics technologies, likely driven by increasing cybersecurity concerns, regulatory requirements, and the need for organizations to effectively manage and secure their identities and access controls.

As per 2018, banking, financial, and insurance (BFSI) sectors accounted for over 32% of identity analytics adoption.

The statistic suggests that in 2018, the banking, financial, and insurance (BFSI) sectors were prominent in adopting identity analytics technology, with these industries accounting for over 32% of the total adoption. Identity analytics involves the use of advanced statistical and analytical techniques to manage and analyze digital identities in order to enhance security, compliance, and customer services. The high adoption rate in BFSI sectors indicates the growing recognition within these industries of the importance of leveraging advanced analytics to protect sensitive data, detect fraud, and personalize customer experiences. This trend likely reflects the increasing regulatory requirements and cybersecurity threats faced by financial institutions, driving the uptake of identity analytics solutions for improved risk management and operational efficiency.

North America emerged as the leading region in 2018, capturing 42% share in the global Identity Analytics market.

The statistic indicates that in 2018, North America was the dominant region in the global Identity Analytics market, accounting for 42% of the market share. This suggests that a significant portion of the market activity and revenue in the Identity Analytics sector was concentrated in North America compared to other regions around the world. Factors such as the presence of established tech companies, advanced cybersecurity infrastructure, and a high level of adoption of identity analytics solutions likely contributed to North America’s leading position in the market. This information is important for businesses and policymakers to understand the regional dynamics and opportunities within the Identity Analytics industry.

By 2023, 20% of large enterprises are expected to adopt identity analytics.

The statistic “By 2023, 20% of large enterprises are expected to adopt identity analytics” suggests that a significant number of large businesses are likely to leverage identity analytics for their operations by the year 2023. Identity analytics involves analyzing and managing digital identities across an organization to enhance security, compliance, and operational efficiency. The projected adoption rate of 20% indicates a growing recognition among enterprises of the importance of understanding and leveraging identity data for various purposes such as access control, risk management, and overall business optimization. This statistic highlights a trend towards implementing advanced data analytics tools within the realm of identity management as organizations strive to stay competitive and secure in an increasingly digital world.

The user authentication segment held a significant share of the Identity Analytics market in 2018.

The statistic indicates that in 2018, the user authentication segment played a major role in the Identity Analytics market, holding a substantial proportion of market share. This suggests that technologies and solutions related to user authentication, such as password management, multi-factor authentication, and biometric verification, were in high demand and were widely adopted by organizations looking to secure access to their systems and data. The emphasis on user authentication highlights the critical importance placed on verifying and validating the identities of individuals accessing sensitive information and underscores the growing significance of Identity Analytics in enhancing cybersecurity measures.

Predictive identity analytics is expected to grow at the highest CAGR during the forecast period.

This statistic suggests that predictive identity analytics is projected to experience the highest Compound Annual Growth Rate (CAGR) among all variables being considered during the forecast period. In other words, the rate at which predictive identity analytics is anticipated to expand and evolve over time is expected to outpace the growth rates of other factors under examination. This indicates a strong market demand and potential for growth in the field of predictive identity analytics, pointing to increasing adoption and investment in this technology in the coming years.

In 2019, over 60% of Identity Analytics solution implementation had been in the cloud.

The statistic that in 2019, over 60% of Identity Analytics solution implementations were in the cloud suggests a significant shift towards cloud-based deployment for such solutions. This indicates a growing trend among organizations to leverage cloud technology for managing identity and access processes, potentially driven by factors such as scalability, flexibility, and cost-effectiveness. The high adoption rate of cloud-based Identity Analytics solutions in 2019 signifies the increasing confidence in cloud platforms’ security and reliability, as well as an acknowledgment of the benefits they offer in terms of agility and efficiency for managing identity-related risks and compliance requirements.

By 2024, APAC is expected to experience the highest growth rate in the Identity Analytics market.

The statistic “By 2024, APAC is expected to experience the highest growth rate in the Identity Analytics market” indicates that the Asia-Pacific region is projected to see the fastest expansion in the field of Identity Analytics compared to other regions by the year 2024. This suggests that businesses and organizations in the APAC region are increasingly recognizing the importance of leveraging identity analytics solutions to enhance security, streamline operations, and improve decision-making processes. The growth in this market signals a rising demand for innovative identity analytics technologies and services in the APAC region, highlighting a significant opportunity for businesses operating within the identity analytics industry to capitalize on this trend and expand their market presence in the region.

Identity analytics in healthcare is anticipated to grow at the fastest rate, with a CAGR of 35%, during the forecast period.

This statistic suggests that the field of identity analytics in healthcare is projected to experience substantial growth over the forecast period, at a Compound Annual Growth Rate (CAGR) of 35%. Identity analytics refers to the process of analyzing and managing patient or healthcare provider identities to ensure accuracy, security, and compliance within the healthcare ecosystem. The rapid growth in this sector indicates a heightened focus on enhancing data security, streamlining processes, and improving patient outcomes through advanced identity management solutions. This trend underscores the increasing recognition of the importance of data-driven decision-making and security measures in the healthcare industry to meet evolving regulatory requirements and address emerging challenges.

The US will continue to have the highest revenue in the identity analytics market globally till 2022.

The statistic indicates that the United States is projected to maintain its position as the top revenue generator in the identity analytics market around the world until the year 2022. This suggests that the US will outpace other countries in terms of generating revenue from identity analytics solutions and services, which may be attributed to factors such as a strong market demand, a robust technological infrastructure, and a high adoption rate of identity analytics tools by businesses in the country. This prediction highlights the leading role of the US in the identity analytics market and the continued significance of American businesses in driving growth and innovation within this sector.

The global Identity Analytics market was valued at $245 million in 2016.

The statistic “The global Identity Analytics market was valued at $245 million in 2016” represents the total financial worth attributed to the Identity Analytics market worldwide in the year 2016. This figure indicates the aggregate value of goods and services related to identity analytics, a technology-driven process that focuses on analyzing and managing digital identity information within organizations to enhance security and operational efficiency. The market value of $245 million suggests the significant interest and investment in identity analytics solutions by businesses and institutions around the world during that particular year, reflecting a growing recognition of the importance of identity management in the digital era.

The on-premise deployment of identity analytics solutions is expected to decline by 2% by 2022.

The statistic suggests a projected decrease in the adoption rate of on-premise deployment of identity analytics solutions by 2% by the year 2022. This indicates a shift towards alternative deployment methods, such as cloud-based or hybrid solutions, as organizations seek more flexible, scalable, and cost-effective options for managing and analyzing identity-related data. The declining trend in on-premise deployment may be influenced by factors such as the growing popularity of cloud computing, the need for remote accessibility, and the increasing emphasis on data security and compliance requirements in a rapidly evolving technological landscape. Organizations may also be prioritizing agility and innovation by leveraging more advanced and integrated analytics solutions that align with their digital transformation strategies.

Fortune 500 companies’ investments in identity analytics are estimated to grow by around 30% by 2023.

The statistic indicates that Fortune 500 companies are projected to significantly increase their investments in identity analytics technology by about 30% by the year 2023. This growth in investment suggests a growing recognition among these large companies of the importance and value of using identity analytics to improve their operations and decision-making processes. Identity analytics involves leveraging data and sophisticated algorithms to enhance the understanding of customers, employees, and other stakeholders, ultimately leading to more personalized and targeted strategies. This increased investment signifies a strategic shift towards leveraging data-driven insights to drive business growth and performance among some of the world’s most influential companies.

Growth in security and privacy concerns is propelling the Identity Analytics market towards a 31.3% CAGR over the forecast period.

The statement suggests that the Identity Analytics market is experiencing significant growth, driven by increasing concerns around security and privacy. The Compound Annual Growth Rate (CAGR) of 31.3% indicates a steady and substantial expansion of the market over the forecast period. This growth is likely fueled by the growing emphasis on safeguarding sensitive information and preventing security breaches, prompting organizations to invest in identity analytics solutions to enhance their security measures and compliance with regulations. As these concerns continue to rise, the demand for identity analytics tools that can effectively manage and protect identities and access rights is expected to grow rapidly, contributing to the projected CAGR in the market.

SMEs are expected to register the highest growth rate in the adoption of identity analytics.

The statistic suggests that small and medium enterprises (SMEs) are anticipated to experience the most significant increase in the implementation of identity analytics compared to larger businesses. This indicates that SMEs are increasingly recognizing the importance of utilizing identity analytics tools and technologies to enhance their operational efficiency, data security, and overall business performance. The expected high growth rate in adoption among SMEs may be attributed to factors such as the rising awareness of the benefits of identity analytics, greater accessibility and affordability of these solutions, and the growing need to mitigate security risks in today’s digital landscape. Overall, this statistic highlights the evolving landscape of data analytics adoption among different business sizes, with SMEs emerging as key drivers of growth in the identity analytics market.

Identity analytics solutions are anticipated to register a significant growth rate with approximately 10% in the retail & e-commerce industry by 2024.

The statistic indicates that identity analytics solutions are expected to experience substantial growth within the retail and e-commerce industry, with an estimated increase of about 10% by the year 2024. This projection suggests that businesses operating in the retail and e-commerce sectors are recognizing the importance of identity analytics in enhancing customer experiences, improving security measures, and increasing operational efficiencies. The anticipated growth rate of 10% demonstrates a growing adoption and investment in identity analytics solutions within the industry, showcasing a strategic shift towards leveraging data-driven insights to drive business success and address the evolving needs of consumers in the digital marketplace.

The increase in demand for mobility solutions is a driving factor for the growth of the identity analytics market, which is estimated at a rate of 20% CAGR.

The statistic suggests that the identity analytics market is experiencing significant growth driven by the increasing demand for mobility solutions. This growth is projected to continue at a compound annual growth rate (CAGR) of 20%. The rise in demand for mobility solutions, such as mobile devices and applications, has led to greater complexities in managing user identities and access rights, which in turn has created a need for advanced identity analytics solutions. Businesses and organizations are recognizing the importance of ensuring security and compliance in a mobile-driven environment, fueling the adoption of identity analytics tools to streamline identity management processes, enhance security measures, and improve overall operational efficiency.

The data mining technique is projected to dominate the Identity Analytics Market by 2023.

The statistic “The data mining technique is projected to dominate the Identity Analytics Market by 2023” indicates that data mining, a method of analyzing large sets of data to uncover patterns and relationships, is expected to become the primary approach for identity analytics by 2023. This suggests that organizations in the identity analytics market are increasingly recognizing the value and effectiveness of data mining in extracting actionable insights from their data to enhance security, risk management, and decision-making processes. As a result, data mining is forecasted to play a central role in shaping the future of identity analytics solutions and applications.

The market in Latin America is expected to grow at a CAGR of 32.1% from 2019 to 2027.

This statistic indicates that the market in Latin America is projected to experience significant growth over the period from 2019 to 2027, with a Compound Annual Growth Rate (CAGR) of 32.1%. CAGR is a measure used to describe the mean annual growth rate of an investment over a specified timeframe, assuming that the growth happens steadily over the period in question. This high CAGR suggests a rapid expansion in market size and potential opportunities for businesses operating in Latin America. The forecasted growth rate of 32.1% signifies strong expected performance in the market, which could be driven by various factors such as economic development, technological advancements, and increasing consumer demand.

Conclusion

Identity analytics industry statistics provide valuable insights into the trends and challenges shaping the digital landscape. By analyzing and understanding these data points, businesses can make informed decisions to strengthen their security protocols, enhance user experience, and drive growth. Stay updated on the latest industry statistics to stay ahead of the curve and maximize the potential of identity analytics solutions.

References

0. – https://www.www.marketresearchfuture.com

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2. – https://www.www.mordorintelligence.com

3. – https://www.www.researchandmarkets.com

4. – https://www.www.globenewswire.com

5. – https://www.www.fortunebusinessinsights.com

6. – https://www.www.marketsandmarkets.com

7. – https://www.www.alliedmarketresearch.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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