Remote Workforces and IoT Fuel the Growth of the Global Personal Identity Management Market to 2028

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Sep 28, 2023, 17:30 ET

DUBLIN, Sept. 28, 2023 /PRNewswire/ -- The "Personal Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global personal identity management (PIM) market is experiencing substantial growth, with a market size of US$ 17.2 Billion in 2022. Projections indicate that the market will continue to flourish, aiming to reach US$ 38.4 Billion by 2028. This robust growth is expected to manifest at a remarkable compound annual growth rate (CAGR) of 13.79% during the period from 2023 to 2028.

Empowering Secure Information Management

Personal Identity Management (PIM) involves the crucial process of safeguarding and managing information and resources for organizations and individuals alike. Digital identities and credentials, such as usernames and passwords, are issued and used for authentication purposes, ensuring the protection of user profiles.

PIM solutions enable companies and individuals to securely store and manage essential information. While PIM is currently in its nascent stage, its popularity is surging globally due to recurring data breaches, heightened security threats, and the expanding digital footprint across various platforms.

Key Drivers and Trends

Several factors are driving the growth of the PIM market:

Technological Advancements: Innovations in cloud computing, real-time data access, and automated meter infrastructure are facilitating the adoption of PIM solutions.
Remote Workforces: As an increasing number of employees work remotely, PIM systems play a pivotal role in securing organizations' data.
Government Regulations: Governments worldwide are implementing laws and regulations to protect personal data, boosting the adoption of PIM solutions to ensure compliance.
Internet of Things (IoT): PIM solutions are expanding their applications by identifying devices, sensors, and monitors, enhancing personal identity management in the IoT era.

Market Segmentation

The comprehensive report segments the personal identity management market based on various parameters:

Component: Applications, Access Control, Content Management, Services (Professional Services, Managed Services)
Deployment Type: On-Premises, Cloud
Data Type: Behavioral Data, Individual Identity Data, Derived Data, Self-Identified Data
Industry Vertical: IT and Telecom, Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, Consumer Goods and Retail, and Others

Competitive Landscape

Key players in the personal identity management market include International Business Machines Corporation, Broadcom Inc., Microsoft Corporation, Oracle Corporation, Okta, Inc., Hitachi Id Systems, Inc. (Hitachi Ltd.), Dell Technologies Inc., Micro Focus International plc, SailPoint Technologies Inc., OneLogin, Inc., Delinea, Experian PLC, and Kaspersky Lab.

Key Questions Answered in This Report:

How large is the global personal identity management market?
What is the expected growth rate of the global personal identity management market during 2023-2028?
What are the key factors driving the global personal identity management market?
What has been the impact of COVID-19 on the global personal identity management market?
What is the breakup of the global personal identity management market based on the component?
What is the breakup of the global personal identity management market based on the deployment type?
What is the breakup of the global personal identity management market based on the data type?
What is the breakup of the global personal identity management market based on the industry vertical?

For more information about this report visit https://www.researchandmarkets.com/r/330jy6

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