Investigate A thorough analysis of competitors and a comprehensive overview of the global identity analytics market in terms of market segmentation by enterprise size, component, deployment mode, application, industry vertical, and region are provided by Nester’s recent market research study on the “Identity Analytics Market: Global Demand Analysis & Opportunity Outlook 2037.”
Growing Data Breach and Cyberthreats to Increase Identity Analytics Market Share Worldwide
Attackers are using advanced techniques including social engineering, phishing, and credential stuffing to compromise accounts and gain unauthorized access. 10,626 confirmed data breaches occurred globally in 2024, more than twice as many as the 5,199 that were reported the year before. Both the expanding digital footprints of companies and the enhanced capabilities of attackers are reflected in this high figure.
Identity analytics solutions use anomaly detection, behavior analysis, and machine learning to identify unusual activity and immediately alert companies to potential threats. As data breaches increase in frequency, businesses face more and more risks to their money and reputation.
By continuously monitoring user access patterns and promptly detecting questionable activity, identity analytics solutions help mitigate these risks and lower the likelihood of data exfiltration. Since data breaches can result in permanent harm, proactive security measures are becoming more popular. By continuously monitoring and analyzing user behavior, identity analytics enables organizations to identify and rectify questionable behavior before an attack happens.
Growth Drivers:
- Increasing complexity of IT environments
- The rise of artificial intelligence (AI) and machine learning (MI)
Challenges
Large amounts of user data are frequently gathered and analyzed by identity analytics solutions, which raises privacy issues and may be in violation of data protection laws like the GDPR, CCPA, and HIPAA. Organizations that must strike a balance between security and compliance face difficulties as a result of these restrictions, which restrict the acquisition and processing of data.
Furthermore, competent experts with knowledge of data science, machine learning, cybersecurity, and identity management are needed to implement and oversee identity analytics solutions. Organizations may find it challenging to implement and run identity analytics solutions efficiently due to a lack of qualified personnel in these fields.
By 2037, the revenue share of major firms is expected to expand by 61.2% based on enterprise size. The expansion can be ascribed to the big businesses’ ongoing investments in all-inclusive solutions that meet their intricate security and identity management requirements. To increase security, big businesses are spending more money on cutting-edge technology like AI and ML.
Our World in Data estimates that USD 132.36 billion was spent annually on artificial intelligence by private companies worldwide in 2021. By integrating these technologies with identity analytics systems, big businesses may use behavior analysis, predictive analytics, and real-time threat detection to take a proactive approach to security.
By 2037, the identity analytics market in North America is expected to have the biggest revenue share by region. High cybersecurity requirements, the adoption of cutting-edge technologies, regulatory restrictions, and the quickly growing digital economy are all contributing to the market’s notable rise.
The area frequently experiences ransomware attacks, identity theft, and data breaches, among other cyberthreats. Significant investments in identity analytics solutions, which can assist enterprises in identifying and thwarting identity-based threats, protecting sensitive data, and preventing unwanted access, have resulted from the focus on cybersecurity.
The current competitive landscape of some of the major market participants, including Oracle, Verint Systems Inc., LogRhythm, Inc., SailPoint Technologies, Inc., Gurucul, Securonix, LexisNexis Risk Solutions, and others, is also included in this research.
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