In 2022, the market for bimodal identity management solutions is projected to reach a value of US$ 992.4 million. The market’s growth can be attributed to both the expanding trend of “bring your own device” and the rising demand for identity and access management solutions across industries (BYOD).
Bimodal identity management solutions are expected to see a valuation of US$6,551.8 Million by 2032, growing at a CAGR of 20.8% through that year. Bimodal identity management solutions, which add an additional security layer to the current system, use conventional enterprise identity architectures. Bimodal identity management solutions are employed in order to safeguard a company’s information system.
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Bimodal Identity Management Solutions Market: Drivers and Restraints
The need of proper authenticity check and raising security concerns at an organization are coupled together to spur the need of Bimodal Identity Management Solutions. Keeping data safe and secure are becoming the major concern in an organization these days, so to ensure secrecy and proper management regarding accessibility of data are further driving the demand for bimodal Identity Management solution.
Advance identity management system integrated with artificial intelligence are key trends witnessing these days, which is catering towards the expansion of new security related products.
Data security and access of information by the right candidate are the other factors, which are contributing towards the bimodal identity management product expansion. The emerging utility of the bimodal identity management solution, regarding professional and personal life, are adhering towards the market growth. On the other hand, lack of domain expertise at workforce is the major challenge faced by the organizations in the correct deployment of Bimodal Identity Management Solutions.
Market Competition
The key vendors for the bimodal identity management solutions market are
- SOTI Inc.,
- Sophos Ltd,
- Hitachi ID Systems,
- SailPoint Technologies,
- Ping Identity,
- IBM Corporation,
- Colligo Networks,
- CA Technologies,
- SAP,
- VMware, Inc.,
- Microsoft Corporation,
- Good Technology,
Fischer International OneLogin, Inc., MobileIron, Okta, Inc., NetIQ Corporation, Symantec Corporation, Oracle Corporation, Dell EMC, Alfresco Software, Centrify, and Citrix Systems, Inc.
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Bimodal Identity Management Solutions Market: Regional Outlook
The North America region is anticipated to witness the largest market share of Bimodal Identity Management Solutions Market. In countries such as Canada and US, the market is emerging with rapid pace owing to increasing dependence on computerized systems, so to ensure safety regarding individual data accessibility is anticipated to drive the market growth in the North American nations.
With growing number of small and medium enterprise in Asia Pacific countries such as India and China are estimating the Bimodal Identity Solution Market to exhibit fastest growth rate over forthcoming years.
Key Segments Profiled in the Bimodal Identity Management Solutions Industry Survey
Bimodal Identity Management Solutions Market by Vertical:
- Bimodal Identity Management Solutions for Education
- Bimodal Identity Management Solutions for BFSI
- Bimodal Identity Management Solutions for Manufacturing
- Bimodal Identity Management Solutions for Telecom and IT
- Bimodal Identity Management Solutions for Energy
- Bimodal Identity Management Solutions for Healthcare and Life Sciences
- Bimodal Identity Management Solutions for Public Sector & Utilities
- Bimodal Identity Management Solutions for Retail
Bimodal Identity Management Solutions Market by Organization Size:
- Bimodal Identity Management Solutions for Small & Medium Enterprise (SMEs)
- Bimodal Identity Management Solutions for Large Enterprises
Bimodal Identity Management Solutions Market by Deployment:
- Cloud-based Bimodal Identity Management Solutions
- On-Premise Bimodal Identity Management Solutions
Bimodal Identity Management Solutions Market by Region:
- North America Bimodal Identity Management Solutions Market
- Latin America Bimodal Identity Management Solutions Market
- Europe Bimodal Identity Management Solutions Market
- East Asia Bimodal Identity Management Solutions Market
- South Asia & Oceania Bimodal Identity Management Solutions Market
- Middle East & Africa Bimodal Identity Management Solutions Market
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