New Delhi, Aug 8 (PTI) State-owned ITI Ltd on Saturday said it has signed a memorandum of understanding with Ilantus Tech to jointly market identity and access management solution to government agencies, Defence and public sector units.

ITI will harness Ilantus' 20 years of global experience in Identity and Access Management (IAM) segment and jointly market the solution to government organisations, the public sector firm said in a statement.

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"With our market reach and resources, combined with Ilantus' product vision, we are certain this will open up several new avenues," ITI Chairman and Managing Director RM Agarwal said.

The statement cited an industry report which projects that the consumer identity and access management market will grow from USD 7.6 billion in 2020 to USD 15.3 billion by 2025, at a compound annual growth rate of 15.1 per cent.

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"Identity and access management (IAM) solutions help enterprises to determine and control access to network, system and application by end-users. Under the current scenario of threats to cyber space, the need of IAM has increased manifolds in India," ITI statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)