Large Growth in Identity Management Predicted
April 1st, 2006
In a recent report from Research & Consultancy Outsourcing Services (RNCOS) titled “Identity Management Services - A Market Perspective“:
Year 2005 saw an unexpected rise in the incidents of identity theft that stimulated the rapid inclusion of Identity Management Solutions in industries.
In spite of high infrastructure cost, reluctance to adopt a new technology and nonexistence of government support the market for identity management is growing swiftly.
As per industry experts, the market for provisioning, data validation, merged identity solutions and full suites has already reached above $1.2 million. With an average annual growth rate of 2.3 times, it is further estimated to grow above $8.5 billion by the year 2008.
However, factors such as regulatory compliance, higher productivity, improved safety and lower administrative costs might pull businesses towards the Identity Management Solutions, vendors with a standard clientele can only ensure proper implementation of these solutions.
This lends further credibility to statements that identity management is the next big thing.