News from the WireLondon, Sept. 30, 2016 -- Technavio analysts forecast the global mobile identity management market to grow at a CAGR of more than 9% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global mobile identity management market for 2016-2020. To determine the market size, the study considers paid mobile identity applications for mobile application management (MAM) and mobile device management (MDM). Mobile identity management plays a vital role in identity and access management technology. Mobile identity management is used to identify, access and pay for online services like banking. However, with the increasing variety of digital content that can be accessed through mobile devices, the regulatory bodies are facing challenges in developing privacy safeguards that will encourage the development of new applications.
Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global mobile identity management market:
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Increased access to high-speed internet with 3G and 4G networks
Technological advances in mobile networks are among the major factors contributing to the growing adoption of mobile security solutions. In developed countries, mobile operators are investing heavily to expand 3G and 4G networks. In 2014, global 3G/4G connections were around 40% of the total connections and is expected to increase to 70% in 2020.
Mobile operators are offering high-speed mobile broadband services that have enabled consumers to use bandwidth-intensive applications. High-speed internet services also increase security issues for individual customers, and they need effective mobile security solutions to avoid internet-centric malware attacks. Thus, the increased availability of 3G and 4G networks will boost the adoption of mobile security solutions during the forecast period.
Growing popularity of mobile applications
Amrita Choudhury, a lead IT security analyst at Technavio, says, “The growing demand for mobile applications that improve device functionalities has helped increase the availability of advanced mobile devices. Business applications such as e-mail, calendars, and teleconferencing and entertainment applications are readily available for free for mobile device users. Mobile applications are an easy, quick, and practical way of accessing favorite and important things on smartphones.”
Application development is an important component of a mobile ecosystem. Mobile apps have achieved tremendous success with their deployment on smartphones. In future, the apps are expected to conquer the Internet of Things (IoT) platform that has a lot of applications such as smart car, wearables, smart home, and smart sensors that collect, proceed, and transmit data.
Rise in number of online transactions
“Consumers are becoming more and more reliant on the internet for a number of transactions, especially banking and e-commerce transactions. Online transactions are gaining prominence among individual consumers because they are very easy, quick, and convenient. Consumers are using smartphones to make online transactions at any time,” adds Amrita.
However, these banking and e-commerce transactions are vulnerable to cyber-attacks. Cyber-attacks are increasing in lucrative sectors such as the banking, financial services, and insurance; payment card; and retail, where a huge number of individual consumers operate. In order to make online transactions secure, a number of vendors in the market, such as Gemalto, are providing mobile payment security software for preventing fraudulent activities.
Privacy concerns of mobile users
The mobile threat landscape continues to grow because of the growing internet speed, cloud services, and a number of apps available on mobile devices for every age group. With more people using their smartphones for managing finances, online shopping, paying bills, and playing online games, the threat is expected to be always on the phone. Some of the mobile threats are malware, risky apps, device vulnerabilities, jailbroken and rooted devices, and rogue Wi-Fi access points. A rogue access point is a wireless access point, which is installed on a secure network without the authorization from a local network administrator.
Top vendor offerings: Company - Mobile identity products and solutions CA Technologies: CA Identity Manager Centrify: Centrify Identity Service Gemalto: Mobile ID Oracle: Identity-Centric Enterprise Mobility Management (EMM) Platform
Source: Technavio
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Source: Company press release. 
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