Mobile Identity Management Market to Grow with a CAGR of 24.6% Globally through to 2028.
Global Mobile Identity Management market is rising due to the increasing
demand for secure and convenient identity verification solutions in an interconnected
digital world in the forecast period 2024-2028.
According to TechSci Research report, “Global Mobile
Identity Management Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, The global Mobile Identity Management
market is experiencing significant growth driven by the increasing reliance on
digital services and the need for robust identity verification solutions. In an
era where online transactions, mobile banking, and e-commerce have become
integral parts of daily life, the demand for secure and seamless identity
management has surged. This market encompasses a wide range of solutions and
technologies, including biometrics, multi-factor authentication, and digital
identity platforms. Businesses across various sectors, including finance,
healthcare, and e-commerce, are adopting mobile identity management solutions
to enhance security, streamline user experiences, and comply with stringent
regulatory requirements. Furthermore, the ongoing trend of remote work and the
proliferation of mobile devices have further accelerated the market's
expansion. As cyber threats continue to evolve, the mobile identity management
market is poised for sustained growth as organizations prioritize safeguarding
sensitive data and ensuring user trust in an increasingly digital and
mobile-dependent world.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Mobile Identity Management Market”.
The Global Mobile Identity Management Market has
witnessed significant growth in recent years, driven by the increasing adoption
of mobile devices and the growing need for secure and convenient authentication
solutions. Mobile identity management refers to the process of managing and
verifying the identity of individuals using mobile devices, such as smartphones
and tablets. It involves the use of various technologies, including biometrics,
multi-factor authentication, and digital identity verification, to ensure the
authenticity and security of user identities. One of the key factors driving
the growth of the mobile identity management market is the rising demand for
secure access to digital services and applications. With the proliferation of
mobile devices and the increasing reliance on digital platforms for various
activities, such as online banking, e-commerce, and social media, the need for
robust identity management solutions has become paramount. Mobile identity
management offers a secure and convenient way for individuals to access these
services, while also protecting their personal information from unauthorized
access.
Furthermore, the growing concerns over identity theft
and fraud have further fueled the demand for mobile identity management
solutions. Traditional methods of identity verification, such as passwords and
PINs, are increasingly being compromised, leading to a surge in fraudulent
activities. Mobile identity management provides an additional layer of security
through biometric authentication, such as fingerprint or facial recognition,
making it much harder for fraudsters to impersonate individuals. Moreover, the
increasing adoption of mobile payments and digital wallets has also contributed
to the growth of the mobile identity management market. As more individuals use
their mobile devices for financial transactions, the need for secure and
reliable identity verification becomes crucial. Mobile identity management
solutions enable seamless and secure authentication for mobile payments,
ensuring that only authorized individuals can access and use digital wallets.
In addition, the rapid advancements in technology,
such as the Internet of Things (IoT) and artificial intelligence (AI), have
further propelled the growth of the mobile identity management market. IoT
devices, such as smart home appliances and wearable devices, require secure
authentication to ensure that only authorized users can access and control them.
Mobile identity management solutions provide a seamless and secure way to
authenticate users and devices in the IoT ecosystem. Furthermore, the
integration of AI technologies, such as machine learning and natural language
processing, has enhanced the capabilities of mobile identity management
solutions. AI-powered authentication algorithms can analyze user behavior
patterns and detect anomalies, thereby providing an additional layer of
security against fraudulent activities.
In conclusion, the Global Mobile Identity Management
Market is experiencing significant growth due to the increasing adoption of
mobile devices, the rising demand for secure access to digital services, and
the growing concerns over identity theft and fraud. With the advancements in
technology and the integration of AI, mobile identity management solutions are
becoming more robust and reliable, offering a secure and convenient way for
individuals to authenticate their identities. As the reliance on mobile devices
and digital platforms continues to grow, the demand for mobile identity
management solutions is expected to further increase in the coming years.
The Global Mobile Identity Management Market is
segmented into Solution, Service, Deployment, Enterprise Size, Vertical,
regional distribution, and company.
Based on its Deployment, the cloud-based segment held
a market share of 55.4% in 2022 and is expected to dominate the market by 2030.
As more businesses determine the advantages of cloud-based solutions for mobile
identity management, adopting cloud-based MIM solutions is anticipated to
increase. Flexibility, affordability, security, and ease of deployment are the
key factors for businesses seeking to enhance mobile identity management
capabilities. The integration of MIM solutions with other cloud-based
technologies, such as identity-as-a-service (IDaaS) and security information
and event management (SIEM) solutions, is projected to grow over the forecast
period.Cloud-based MIM solutions will include advanced capabilities such as
machine learning (ML) and artificial intelligence (AI) to help organizations
automate mobile identity management procedures and enhance overall security
posture.
The on-premises segment is expected to grow at a CAGR
of 24.8% over the forecast period. MIM systems can provide a higher level of
security for sensitive data because the data stored on servers physically is
located within the organization's premises. It is crucial for organizations
with strict security requirements or sensitive data that cannot be hosted on
the cloud. On-premises solutions allow organizations more control over their
MIM systems and information as they are responsible for maintaining and
managing their IT infrastructure. It is critical for organizations with
rigorous data governance standards. Additionally, companies are opting for
on-premises solutions since they perform better than cloud-based solutions
because data is stored locally, and there is no requirement for transmitting it
across a network.
Based on region, North American regional market
dominated the market with a share of 36.0%. The development of Mobile Identity
Management (MIM) systems in the North American region is predicted to expand
due to the increasing adoption of mobile devices in personal and professional
settings. With the development of remote work and the requirement for safe
access to organizational resources, MIM solutions will play a significant role
in maintaining the security and privacy of user identities and sensitive data.
Furthermore, with the increasing frequency of data breaches and cyber threats,
North American organizations are expected to invest more in MIM solutions to
limit the risks of unauthorized access and identity theft. Cloud-based MIM
solution use is expected to rise in North America as more organizations embrace
cloud technology, facilitating greater flexibility, adaptability, and cost
savings.
The Asia Pacific is anticipated to rise as the
fastest-developing regional market at a CAGR of 28.9%. The future of Mobile
Identity Management (MIM) solutions in the Asia Pacific (APAC) region is
projected to witness significant growth as more organizations adopt mobile
technologies and extend their digital operations. The growing popularity of
remote work, as well as the use of cloud computing, are projected to drive
demand for MIM solutions in the region. As enterprises increasingly rely on
cloud-based apps and services, the demand for robust identity and access
management solutions will increase. Moreover, the adoption of MIM solutions is
also anticipated to be driven by regional regulatory developments. Countries
such as China, India, Japan, and Singapore have implemented data protection and
privacy legislation that compels organizations to build robust identity and
access management solutions.
Major companies operating in Global Mobile
Identity Management Market are:
- SOTI
- AppTec360
- Baramundi
- Broadcom,
Inc.
- Cisco
Systems
- Citrix
Systems
- Google
- IBM
- Ivanti
- Kaspersky
Labs
- ManageEngine
- Micro
Focus
- Microsoft
Corporation
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“The Global Mobile Identity Management Market has seen
substantial growth recently, driven by the rising use of mobile devices and the
need for secure authentication solutions. Mobile identity management involves
managing and verifying individuals' identities using mobile devices like
smartphones and tablets, employing technologies such as biometrics,
multi-factor authentication, and digital identity verification. The market's
growth is fueled by the increasing demand for secure access to digital services
and applications, as mobile devices and digital platforms become more
prevalent. Concerns over identity theft and fraud have also contributed to the
demand for mobile identity management solutions, as traditional methods of
verification are compromised. Additionally, the adoption of mobile payments and
digital wallets has played a role, as secure identity verification is crucial
for financial transactions. Advancements in technology, including IoT and AI,
have further propelled the market's growth, as secure authentication becomes
necessary for IoT devices and AI enhances the capabilities of mobile identity
management solutions. Overall, the market is expected to continue growing as
reliance on mobile devices and digital platforms increases.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Mobile
Identity Management Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Solution (Software, Service), By Service
(Professional Services, Managed Services), By Deployment (Cloud, On-premises),
By Enterprise Size (Small and medium-sized enterprises, Large enterprises), By
Vertical (BFSI, IT and Telecom, Retail, Healthcare, Transportation and
Logistics, Manufacturing, Government, Others), By Region, By Competition”,
has evaluated the future growth potential of Global Mobile Identity Management
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Mobile Identity
Management Market.
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