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Moreover, identity management software are capable of performing
functions such as access request management, account management,
compliance management, multifactor authentication, password
management, role management, single sign-on, user activity monitoring
and user provisioning. These software are either installed on the
systems or are available on cloud. Access request management includes
a comprehensive solution to create process and approve access
requests. Account management involves creating and maintaining
accounts of the individuals for accessing a system or premises.
Compliance management encompasses activities such as formulating and
implementing standards, policies and regulation for identity
management. Multifactor authentication comprise of three categories
namely, knowledge factors (passwords), possession factors (such as
smart cards) and inherence factors (such as biometric). In
multifactor authentication, a user can access the electronic systems
by using at least two of the above mentioned factors. Password
management involves issuing and processing of both static and dynamic
passwords for the users to physically or logically access an
electronic system or premise. Role management includes activities
such as providing role-based access control by allowing authority to
the users depending upon the role of the individual or group. Single
sign-on enables access to all the associated systems without asking
for user’s credentials every time he wants to access those systems.
User monitoring and user provisioning is important to avoid access of
illegal or irrelevant systems, website or other applications.
Identity management software market is primarily driven by high crime
rate and rising terrorism activities across the globe. Moreover,
increasing investment by private and government organizations for
developing infrastructure is further propelling the growth of
identity management software. Additionally, the government
regulations and standards to improve the security levels across the
globe are boosting the growth of identity management software market
across the globe. Increasing adoptions of biometrics, smart cards and
centralized database for personal identifications supports the growth
of identity management software market. However, lack of
technological awareness is hindering the growth of this market.
Conversely, with major business organizations expanding their
businesses in the emerging economies, it is expected that the impact
of the lack of awareness will reduce over the coming years and drive
the market growth.
The leading companies in the identity management software are IBM
Corporation, Okta, Inc., Nervepoint Technologies Limited, HID Global
Corporation, ViewDS Identity Solutions, Pirean Limited, Geneous
Software AG, Avatier Corporation, Institut für System-Management
GmbH (iSM), Centrify Corporation, Covisint Corporation, Courion
Corporation, Identacor, Quest Software (Dell), InnerApps LLC,
Identification International, Inc., Omada A/S, Oracle Corporation,
Ping Identity Corporation, GoodWorks Communications and Tools4ever.
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