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Industry Landscape
The Identity Management industry is experiencing rapid growth, driven by increasing cyber threats, stringent regulatory compliance requirements, and the proliferation of digital services. Organizations are investing heavily in robust identity solutions to secure data, streamline operations, and enhance user experience. Cloud-based and AI-powered identity solutions are gaining traction, pushing the industry towards more dynamic and adaptive security models.
Total Assets Under Management (AUM)
Identity and Access Management Market Size in United States
~Approximately 14 billion USD (2023 estimate)
(13.5% CAGR)
- Driven by cloud adoption. - Increased demand for multi-factor authentication. - Rising cybersecurity concerns.
Total Addressable Market
30 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Decentralized Identity (DID)
DID leverages blockchain technology to give individuals greater control over their digital identities, reducing reliance on centralized authorities and enhancing privacy.
Generative AI for Biometrics
Generative AI can be used to create synthetic biometric data for training and testing, improving the robustness and fairness of biometric systems while addressing privacy concerns.
Continuous Authentication
Continuous authentication uses behavioral biometrics and contextual data to constantly verify user identity throughout a session, providing a more secure and seamless experience than traditional one-time authentication.
Impactful Policy Frameworks
National Cybersecurity Strategy 2023 (United States)
Released by the Biden-Harris Administration in March 2023, this strategy outlines an ambitious vision for securing cyberspace, emphasizing increased cybersecurity for critical infrastructure and promoting secure-by-design principles.
This policy will drive increased demand for robust identity management solutions as organizations strive to enhance their cybersecurity posture and comply with evolving federal guidelines.
NIST SP 800-63-3 Digital Identity Guidelines (Latest Revisions)
The National Institute of Standards and Technology (NIST) regularly updates its Special Publication 800-63 series, which provides technical requirements for federal agencies implementing digital identity services.
These guidelines directly influence the security and assurance levels required for identity solutions, compelling NextGenID to ensure its offerings meet or exceed these federal standards for government clients.
Executive Order on Improving the Nation's Cybersecurity 2021 (United States)
Issued by President Biden in May 2021, this EO aims to modernize federal cybersecurity and improve information sharing, with a focus on zero trust architecture and strong identity solutions.
This order creates a strong imperative for government agencies to adopt advanced identity management and authentication solutions, directly benefiting NextGenID's target market.
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