NEW YORK, Aug. 15, 2016 /PRNewswire/ -- "Protection from increasing instances of security breaches and unauthorized access to sensitive data is driving the Personal Identity Management (PIM) market"
The PIM market size is expected to grow from USD 7.37 billion in 2016 to USD 12.76 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 11.61%. Access control and content management are among the applications contributing to the growth of PIM market.
"Content management application is expected to have the largest market size in PIM market"
The content management application is estimated to contribute the largest market share duing the forecast period. Due to increasing adoption of Bring Your Own Device (BYOD) technology in enterprises, the efforts of managing the content associated with each device identity is becoming critical for organizational staff.
Cloud deployment is expected to grow at the highest rate from 2016 to 2021. Among the verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to contribute the largest market share during the forecast period.
"North America is expected to have the largest market size in the PIM market"
North America has the largest market size in the PIM market due to presence of large number of security vendors, whereas Asia-Pacific (APAC) is expected to be the fastest-growing region. Factors such as increasing internet usage, compliance regulation, and implemention of BYOD technology are major forces for the adoption of PIM applications. Furthermore, the market in developing regions such as Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, hosting services, and government regulatory compliance in these regions.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:
- By Company: Tier 1 – 15 %, Tier 2 – 26% and Tier 3 – 59%
- By Designation: C level – 54%, Director level – 33%, Others – 13%
- By Region: North America – 35%, Europe – 28%, APAC – 22%, RoW – 15%
The various key PIM vendors profiled in the report are as follows:
1. IBM Corporation (U.S.)
2. VMware, Inc. (U.S.)
3. CA Technologies (U.S.)
4. Microsoft Corporation (U.S.)
5. Oracle Corporation (U.S.)
6. Dell software Inc. (U.S.)
7. Okta (U.S.)
8. NetIQ (U.S.)
9. Hitachi Ltd. (Japan)
10. SailPoint Technologies, Inc. (U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the PIM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to improve their positions in the business. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, and mergers and acquisitions.
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