Increasing demand for safeguarding applications and data with security policy enforcement, business-driven governance of identity, and access control continues to rev up demand for identity and access management solutions. Growth of the global identity and access management market is significantly driven increasing acquisitions and collaborations among the market players. A recently compiled report by Persistence Market Research reveals that the global identity and access management market is expected to register a healthy growth over the forecast period, 2016-2022.
Acquisition to Boost Innovative Solutions: Major market players are increasingly focusing on developing innovative solutions for tracking, and protecting data, and applications. A recently published news report reveals that a multinational software corporation SAP has offered its users of business software solutions a new method of tracking the customers. The multinational software company has recently announced its acquisition of Gigya, the specialist of customer identity management. Several media companies, hotel-chains, e-commerce stores, and banks are increasingly using the opt-in registration service options in order to track the identities of the customers. Through this acquisition, the multinational software company, SAP further allows its customers to protect the related-data through their services.
The news report reveals that SAP has announced its plan to combine nearly 1.3 Bn identities that are held by Gigya, with the data-matching features of the SAP Hybris Profile. The SAP Hybris Profile is multichannel module that profiles its customers of the Hybris e-commerce platform. Since 2013, the two companies are increasingly testing this combination on a small scale, when they had started offering their services for the business that were mainly with several joint clients. The companies announced that they will focus on managing the customer data globally, which is becoming significantly difficult for various business organizations, as the privacy laws are different in various regions and countries.
Government Regulations to Fuel Market Growth: The companies said that with the imposition of General Data Protection Regulation, the businesses can conveniently protect and track data. However, the imposition of legislations in Europe will continue to remain stringent. These regulations and enforcements in the European Union, and will replace several local regimes. In addition, the imposition of this regulation compels the business organizations to obtain the permission from the customers to manipulate and analyze the data, and update them if the retrieved data has been misused. The specialist of customer identity management, Gigya stated that the company will comply with the requirements for the registration-as-a-service as per the regulation.
The multinational software company, SAP has recently been exploring the other aspects of its offer to Hybris, which the company had acquired nearly four years before. The company stated that it has updated its packaged software solutions, and business accelerators for travel industries, and financial services this month. SAP further announced that the company will further extend its geographic availability of Yaas, which is a range of micro services offered by Hybris.
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