Controlling your information online is becoming increasingly difficult as more and more industries ditch paper in favor of digital solutions.
This has given rise to personal identity management, a security solution that ensures the accessibility of resources to authorized individuals, while protecting mobile devices and personal information from malware, data theft, unauthorized access, viruses, spyware, hackers, online identity theft, and accidental loss.
Advantages of personal identity management solutions:
- Limits and controls access to sensitive data
- Improves security with complete visibility into user access personal accounts and applications
- Monitors suspicious activity through advanced security reporting, auditing, and alerting
- Minimizes the risk of viruses, malware, and spyware
- Reduces data theft and protects business reputations
- Conducts security investigations for unauthorized access
- Provides user authentication at a device level; devices can only be used if the correct credentials are entered
- Provides secure remote access for employees to connect to an organization’s network
According to new research from Technavio, the global personal identity management market will top $4.5 billion in 2020, growing at a CAGR of 33.34%.
Global personal identity management market by application
Personal identity management is loosely segmented into two categories: access control and content management. Access control dominated ever so slightly in 2015, with a market share of 52.73%, while content management held a share of 47.27%.
Overall, Technavio expects access control to gain more ground over the projected period, as increased use of mobile devices in workplaces beget better security.
Access control
Access control is exactly what it sounds like—security systems that restrict unauthorized access to critical data.
Content management
The global personal identity management market for content management was valued at $510 million in 2015 and is likely to reach $1.99 billion in 2020, growing at a CAGR of 31.45%.
We’ve discussed the growing popularity of bring your own device, or BYOD solutions, which allow employees to access organizational data and resources through a personal device.
While this is great in an ‘anytime, anywhere’ business scenario, BYOD does come with some risks.
Hacking and corporate data theft are always a concern for enterprises, especially when applications are being used online over a public network. These concerns are the main factor driving adoption of content management for mobile devices since these solutions allow employees to securely access corporate content on their devices.
