Key Indicators of the Global Bimodal Identity Management Solutions Market in 2022–2031
The global bimodal identity management solutions market is estimated to generate a large amount of revenue by registering a remarkable CAGR during the forecast period, i.e., 2022 to 2031. The growth of the market can be attributed to the high demand for proper authentication and identification of security issues in organizations across the globe. Along with this, the increasing development of advanced identity management systems integrated with artificial intelligence and the rise in technological advancements in the IT sector across the globe are also expected to significantly boost the market growth in the coming years. Furthermore, with the increasing number of data breaches and cyber-attacks, ensuring data security and protection is becoming a major concern for companies these days. In 2017, more than 700 million malware attacks were reported across the world, which increased to approximately 813 million by the end of 2018. The requirement for maintaining privacy and proper access management of data is expected to offer ample growth opportunities for the market in the near future.
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The market is segmented by end-use vertical into BFSI, Telecom & IT, Healthcare, Retail, Education, and others, out of which the healthcare segment is expected to witness robust growth in the global bimodal identity management solutions market. This can be attributed to the fact that healthcare organizations are exposed to more cyber-attacks from their own employees than other end-user industries. Apart from this, increased adoption of identity management solutions to prevent unauthorized individuals from accessing protected health information is also expected to drive the growth of this market segment in the future. Furthermore, based on enterprise size, the large enterprise segment is estimated to gain the highest share during the forecast period owing to more data breaches due to theft or weak privileged credentials in large organizations.
Key macroeconomic indicators influencing market growth
The continued growth of internet availability worldwide, as well as numerous technological advancements including 5G, blockchain, cloud services, the Internet of Things (IoT), and artificial intelligence (AI), among others, have significantly accelerated the world's economic growth in the last two decades. As of April 2021, there were more than 4.5 billion active internet users worldwide. Moreover, the growth of the ICT sector has contributed significantly to the growth of GDP, labor productivity, and R&D expenditure, among other economic transformations in different countries of the world. In addition, the production of goods and services in the ICT sector also contributes to economic growth and development. According to statistics contained in the United Nations Conference on Trade and Development database, ICT goods exports (% of total merchandise exports) worldwide increased from 10,816 in 2015 to 11,536 in 2019. In 2019, these exports to Hong Kong SAR, China accounted for 56.65%, 25.23% in East Asia and Pacific, 26.50% in China, 25.77% in Korea (Rep.), 8.74% in the United States, and 35.01% in Vietnam. These are just some of the important factors that contribute to the market growth.
Regional Overview of the Global Bimodal Identity Management Solutions Market
On the regional front, the global bimodal identity management solutions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The Asia Pacific market is estimated to witness remarkable growth during the forecast period owing to the increasing number of government initiatives regarding authentication and access control in the workplaces of the region. Furthermore, the growing number of small and medium enterprises in India and China is expected to drive the market growth in the region in the coming years. There were over 42 million small and medium enterprises in China in 2020, compared to 39 million and 33 million enterprises in 2019 and 2018, respectively. Moreover, the North America market is projected to gain the largest share during the forecast period owing to the high level of digitalization that is increasing the adoption of identity management solutions among companies, as well as the strong presence of major market players in the region.
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The global bimodal identity management solutions market is classified by region as follows:
<ul>
- North America (USA & Canada) Market Size, Year-over-Year Growth, Market Players Analysis and Opportunity Prospects.
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, year-on-year growth, market player analysis and opportunity outlook.
- Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe, Poland, Turkey, Russia, Rest of Europe) Market size, year-on-year growth, market players analysis and opportunity outlook.
- Asia Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific) Market size, annual growth, market players analysis and opportunity prospects.
- Middle East & Africa (Israel, Gulf (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East & Africa) Market Size, Year-on-Year Growth, Market Players Analysis & Opportunities Outlook
Market segmentation
Our in-depth analysis of the global bimodal identity management solutions market includes the following segments:
On deployment
<ul>
- Locally
- Cloud
By size of the enterprise
<ul>
- Small and medium enterprises
- Large enterprises
By end use vertical
<ul>
- BFSI
- Telecom and IT
- Healthcare
- Retail
- Education
- Other
Growth Drivers
<ul>
- Growing development of advanced identity management systems integrated with artificial intelligence.
- Growing technological advancements in the IT sector
Problems
<ul>
- High cost of deploying bimodal identity management solutions
The most popular companies dominating the market
<ul>
- OOO Sofos
- Company overview
- Business strategy
- Main product offerings
- Financial indicators
- Key performance indicators
- Risk analysis
- Latest developments
- Regional presence
- SWOT analysis
- SOTI Inc
- VMware, Inc.
- Microsoft Corporation
- Fisher International
- OneLogin, Inc.
- Okta, Inc.
- NetIQ Corporation
- Symantec Corporation
- Oracle Corporation
In the News
<ul> <li>
March 2021 PrivaceraCloud and Okta launched authZ and authN solutions to help companies achieve effective identity management in cloud environments.
<li>
February 2020 - Sophos introduced its breakthrough identity access management (IAM) visibility solutions that help manage the relationships between IAM roles, IAM users, and services on AWS.
Авторы отчета: Abhishek Verma
- Report ID: 3828
- Published Date: Feb 06, 2023
- Report Format: PDF, PPT
