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Written by Ravinder » Updated on: October 23rd, 2024
According to the latest report by IMARC Group, titled “Personal Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” provides an extensive analysis of the industry, including personal identity management market research report. The report also covers competitor and regional analysis and the latest advancements in the global market.
The global personal identity management market size reached US$ 19.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 58.4 Billion by 2032, exhibiting a growth rate (CAGR) of 12.4% during 2024-2032.
Personal Identity Management Market Overview:
Personal identity management refers to the process of controlling and managing digital identities and personal information across various online platforms and services. It involves the management of usernames, passwords, and other credentials used to access websites, applications, and online accounts. Personal Identity Management solutions aim to enhance security, privacy, and convenience for users by offering tools such as password managers, multi-factor authentication, and identity verification services. These tools help individuals protect their sensitive information, reduce the risk of identity theft and unauthorized access, and streamline the authentication process across different online platforms. Personal identity management empowers individuals to maintain control over their digital identities and safeguard their online presence.
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Global Personal Identity Management Market Trends:
The global market is majorly driven by the escalating frequency and sophistication of cyber threats, including identity theft, data breaches, and phishing attacks. This growing concern for digital security has spurred the adoption of PIM solutions as essential tools for safeguarding identities and mitigating risks. The proliferation of online services and platforms across various industries has increased the complexity of managing multiple digital identities and credentials. As individuals juggle numerous accounts and passwords, there's a growing demand for PIM solutions that offer convenience and efficiency in managing and accessing personal information securely. Moreover, regulatory requirements such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States have compelled organizations to prioritize data privacy and implement robust identity management practices.
This regulatory landscape has driven the adoption of PIM solutions to ensure compliance with data protection laws and safeguard individuals' privacy rights. Additionally, the rise of remote work and digital collaboration in the wake of the COVID-19 pandemic has accelerated the need for secure access management solutions. With employees accessing corporate resources from various devices and locations, organizations are turning to PIM solutions to enforce access controls, authenticate users, and protect sensitive data. Furthermore, advancements in technology, such as biometric authentication, blockchain-based identity verification, and artificial intelligence-driven security analytics, are fueling innovation in the PIM market. These technological developments offer enhanced security, usability, and scalability, driving adoption across industries and contributing to the overall growth of the PIM market.
Key Players in the Personal Identity Management Industry:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
Market Segmentation:
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Breakup by Region:
Key Highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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