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Technavio Releases New Report on the Global Access Control as a Service MarketTechnavio's latest IT security industry report covers the present scenario and growth prospects for the global personal identity management software market during the period 2016-2020. In this report, Technavio's information communications technology (ICT) research experts announce their key market highlights for the global personality identity management market. Their findings include: Personal identity management solutions will gain the most traction in APAC countries until 2020 The market in APAC is anticipated to witness impressive growth over the next four years and is likely to post a CAGR of over 35%. APAC is expected to post the highest growth rate among all regions during the forecast period given the increased adoption of BYOD policies, cloud computing, and a growing number of internet users and hosting services. In this region, SMBs are gradually developing their IT landscape and looking for technologies and new capabilities to extract the full potential of their existing IT security systems. Over the next four years, Technavio analyst Amrita Choudhury, who specializes in IT security, expects many more vendors to begin their operations in countries such as China and India to capitalize on the attractive opportunity. "Investments in personal identity management solutions in India is particularly lower compared to other developing countries in the APAC region. Most organizations, particularly SMBs, lack awareness of basic IT security systems. However, the majority of personal identity management solution providers in India are likely to improve their product portfolios and enhance their reach by the end of 2020," said Amrita. Leading vendors to gain entry into regional markets and strengthen their global market position by acquiring regional players The global personal identity management market is fragmented with the presence of many small regional vendors and large multinational vendors. Established personal identity management vendors are acquiring smaller vendors to expand their product portfolios and boost their market shares. The market is characterized by the presence of well-diversified and etablished regional vendors. However, established multinational vendors are expected to increase their presence, while regional vendors struggle to compete with them. Vendors with better technical and financial resources display their capability and innovate in this competitive landscape from time-to-time. Such products can make competitor products obsolete and non-competitive even before they are launched or before the R&D and commercialization costs have been recovered. Given this scenario, with the attractive opportunity presented by emerging markets, competition in the global personal identity management market is likely to intensify. Growing need for personal identity management solutions in the face of increasing cyber threats, malware attacks, and data thefts Hackers are increasingly attacking network layers rather than application layers. DoS attack is one of the oldest and the most common technique used to pilfer confidential data. Hackers are using DoS to send unsolicited data to web servers and network resources. This automatically increases traffic and generates requests for access, blocking the server and accessibility for legitimate users. The frequency and intensity of such cyber threats and attacks is on the rise. Hackers are also using viruses and spyware that are becoming more complex and difficult to detect and control. For instance, in 2014, hackers accessed the personal data of all 145 million eBay (News - Alert) users and obtained credentials of three corporate employees in North America. In most cases, the threats were detected only after the attacks. Vendors are finding it increasingly difficult to develop efficient security solutions that can counter sophisticated cyber-attacks that keep evolving with advances in technology. Identifying and preventing security threats from infecting networks continues to be a major challenge for most market vendors. Shift from identity management to identity access security The market is witnessing a gradual shift from personal identity management to identity access. This shift in customer preference can be attributed to security breaches that occurred in 2014 and 2015. To improve their offering, personal identity management providers are therefore shifting their focus from offering basic identity administration to identity security that includes features such as intelligent security applications. Market vendors of identity management solutions are also required to tackle issues concerning deployment and cost issues related to obtaining licenses for system design and customization, implementation, training, and maintenance. After purchasing the license, end-users are required to hire resources for the implementation of the software, which is a major challenge for organizations, especially SMBs, in terms of costs. Browse related reports:
Purchase three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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