Customer Identity And Access Management (IAM) Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, UK, Germany, Japan - Size and Forecast 2024-2028

Customer Identity And Access Management (IAM) Market Size 2024-2028

The customer identity and access management (IAM) market size is forecast to increase by USD 19.37 billion at a CAGR of 21.48% between 2023 and 2028.

• The market is experiencing significant growth due to several key trends and challenges. With the increasing adoption of Internet of Things (IoT) technologies, there is a growth in the number of smart home appliances and connected devices, leading to a growing need for IAM systems to ensure cybersecurity. The complexities of IT infrastructure, particularly in large organizations, necessitate the implementation of advanced IAM systems to manage user identities and access permissions. Additionally, the Bring Your Own Device (BYOD) trend has become prevalent in various industries, increasing the need for IAM systems to secure mobile devices and applications. Artificial intelligence (AI) and machine learning technologies are also being integrated into IAM systems to enhance security and streamline processes. Overall, the market is driven by the increasing need for enhanced security and the complexity of digital environments.

What will be the Size of the Customer Identity And Access Management (IAM) Market During the Forecast Period?

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• The Customer Identity and Access Management (CIAM) market is a critical segment of the cybersecurity landscape, addressing the growing concern for secure and efficient management of digital identities in an increasingly interconnected world. With the growth in cyberattacks, identity theft, and data breaches, there is a heightened demand for advanced IAM solutions that can mitigate risks and ensure privacy. Mobile security is a significant trend in CIAM, as the proliferation of mobile devices necessitates secure access to applications and services from anywhere, at any time. Skilled cybersecurity professionals are in high demand to implement and manage IAM systems, which can be deployed in various environments, including cloud, hybrid, and on-premise. Logistics and supply chain industries are also leveraging IAM systems to secure their digital operations and protect sensitive data.
• Industries such as healthcare, utilities, manufacturing, and financial institutions are major adopters of CIAM solutions due to the sensitive nature of their data. Business expansions and digital transformations are driving the market's growth, with companies seeking to provide seamless and secure access to their customers while maintaining regulatory compliance. Decentralized identity and fraud prevention are emerging trends in CIAM, offering more control to users and reducing the risk of unauthorized access. Microsoft's Identity platform is a notable player in this market, providing comprehensive identity solutions for businesses of all sizes. Overall, the CIAM market is expected to continue its growth, as organizations prioritize security and privacy in their IT infrastructure.

How is this Customer Identity And Access Management (IAM) Industry segmented and which is the largest segment?

The customer identity and access management (IAM) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Deployment
  • On-premises
  • Cloud-based
• End-user
  • Large enterprises
  • Government organizations
  • SMEs
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

By Deployment Insights

• The on-premises segment is estimated to witness significant growth during the forecast period.

Customer Identity and Access Management (IAM) is a critical business technology for securing digital identities and managing access to systems and applications. IAM systems encompass capabilities such as single sign-on (SSO), social login, and directory services for provisioning and managing user identities. The market for IAM is driven by various factors, including cybersecurity concerns, identity theft, and cyberattacks. Healthcare, mobile security, and cloud technologies are major industries adopting IAM solutions to mitigate fraudulent activities and ensure regulatory compliance. The BFSI sector in APAC is a significant contributor to the market, utilizing both on-premises and cloud-based IAM deployment models. On-premises IAM offers greater customization and data security but requires significant capital investment and in-house hardware.

In contrast, cloud-based IAM is more cost-effective and offers ease of deployment, scalability, and automation. The Internet of Things (IoT), Artificial Intelligence (AI), and the increasing use of business technologies in industries such as manufacturing, logistics, energy, education, transportation, and utilities are also driving the growth of the IAM market. Cybercrime and fraudulent activities continue to pose significant challenges, necessitating advanced IAM solutions and continuous security measures.

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The On-premises segment was valued at USD 4.02 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth due to several key factors. The increasing adoption of cloud technologies, the rise of cybercrime and identity theft, and the need for privacy measures and compliance with cybersecurity regulations are major drivers for the market. Additionally, industries such as healthcare, manufacturing, and utilities are implementing IAM systems to secure their IT infrastructure and protect against fraudulent activities. IAM solutions, including directory services, provisioning, single sign-on, and cloud deployment, are essential for businesses to ensure secure access to their systems and data. The integration of automation, artificial intelligence, and the Internet of Things (IoT) in IAM technologies further enhances their capabilities. Government entities and businesses in North America are investing in IAM solutions to mitigate cybersecurity risks, safeguard sensitive information, and maintain regulatory compliance.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Customer Identity And Access Management (IAM) Industry?

An increase in data thefts globally is the key driver of the market.

• Cybersecurity threats, including identity theft and fraudulent activities, pose significant risks to businesses and organizations in various sectors. In the US alone, there were over 4.8 million identity theft and fraud reports in 2020, marking a 45% increase from the previous year, according to the Federal Trade Commission. Cyberattacks targeting payment card data, such as cardholder names, credit and debit card numbers, expiration dates, and verification codes, have become increasingly common. For instance, a restaurant conglomerate, Landry's, reported a point-of-sale malware attack in January 2020, compromising customers' payment card information. To mitigate these risks, businesses are investing in Identity and Access Management (IAM) systems, which enable secure and efficient management of digital identities and access to business technologies.
• IAM systems employ capabilities such as Single Sign-On (SSO), Social Login, Directory Services, Provisioning, and Audit & Compliance to ensure secure access to business-critical applications and infrastructure. IAM solutions are being adopted across industries, including Healthcare, Manufacturing, Utilities, Logistics, Transportation, Education, and Energy, to protect sensitive data and maintain privacy measures. The Internet of Things (IoT), Artificial Intelligence (AI), Automation, Cloud Technologies, and Mobile Security are also driving the demand for advanced IAM systems. Cybercrime continues to evolve, necessitating the need for skilled cybersecurity professionals and advanced IAM technologies to counteract the increasing threats. Business expansions, hybrid cloud deployments, and on-premise deployments are also fueling the growth of the IAM market. The companies of identity and access management offer solutions that cater to various cyber regulations, including those related to healthcare, finance, and government. As businesses continue to digitize their operations, the importance of IAM systems in protecting IT infrastructure and preventing cyber breaches will only grow.

What are the market trends shaping the Customer Identity And Access Management (IAM) Industry?

An increased adoption of BYOD is the upcoming market trend.

• In today's business landscape, cybersecurity is a top priority as organizations grapple with the increasing threat of identity theft, cyberattacks, and fraudulent activities. Identity and Access Management (IAM) systems have emerged as crucial business technologies to mitigate these risks. IAM systems enable organizations to manage and secure digital identities, ensuring only authorized individuals have access to sensitive data and resources. The healthcare sector, in particular, is under immense pressure to protect patient information. IAM capabilities such as Single Sign-On (SSO), Social login, and Directory services are essential for healthcare providers to maintain privacy measures and comply with cyber regulations.
• The Internet of Things (IoT) and Artificial Intelligence (AI) are revolutionizing various industries, including manufacturing, utilities, transportation, and logistics. IAM systems with automation and cloud technologies are essential to secure these business expansions. Mobile security is another critical area of focus, as the use of mobile devices for professional tasks increases. IAM systems with SSO and provisioning capabilities help organizations secure their IT infrastructure, prevent security breaches, and mitigate the risk of cybercrime. Identity management is no longer just an IT issue; it's a business imperative. companies of identity and access management solutions offer various deployment options, including cloud, hybrid, and on-premise, to cater to the diverse needs of organizations. Thus, IAM systems are essential for organizations to secure their digital identities and protect against cyber threats. The market dynamics are driven by the need for cybersecurity, mobile security, and compliance with cyber regulations across various industries.

What challenges does the Customer Identity And Access Management (IAM) Industry face during its growth?

Complexity of network infrastructure is a key challenge affecting the industry growth.

• The Consumer Identity and Access Management (IAM) market faces a significant challenge due to the intricacy of modern network infrastructures. As companies introduce new security solutions, integration complexities arise, potentially slowing down systems and frustrating customers. Seamless integration with third-party offerings and previous versions is essential to prevent customer dissatisfaction and attrition. However, achieving this level of compatibility may increase the complexity of security products, potentially introducing operational or interface issues for end-users. This intricacy in network infrastructure poses a substantial challenge for companies in the IAM market. In the business landscape, cybersecurity remains a top priority as cyberattacks, identity theft, and fraudulent activities continue to threaten organizations.
• IAM systems, including directory services, provisioning, single sign-on (SSO), and social login capabilities, play a crucial role in mitigating these risks. These technologies help ensure secure access to business technologies and critical data, especially in sectors like healthcare, manufacturing, utilities, logistics, transportation, education, and energy. The Internet of Things (IoT), artificial intelligence, automation, cloud technologies, and mobile security further complicate the IAM landscape. Ensuring privacy measures and security for smart homes, smart buildings, and smart devices is essential. Compliance with cyber regulations and audit requirements is also a critical concern. In the face of these challenges, CIAM technologies, such as SSO and identity verification, offer solutions to streamline access and maintain security. The companies of IAM solutions must address these market dynamics while providing capabilities that cater to various business expansions and IT infrastructure needs. This includes hybrid, cloud, and on-premise deployments. By focusing on ease of use, seamless integration, and security features, companies can meet the evolving needs of businesses and help mitigate the risks associated with cybercrime.

Exclusive Customer Landscape

The customer identity and access management (IAM) market forecasting report includes the adoption lifecycle of the market, market growth and forecasting, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the customer identity and access management (IAM) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, customer identity and access management (IAM) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry. The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Akamai Technologies Inc.
• Aware Inc.
• Broadcom Inc.
• Cisco Systems Inc.
• Equifax Inc.
• Experian Plc
• GB Group plc
• Mitek Systems Inc.
• NortonLifeLock Inc.
• Okta Inc.
• One Identity LLC
• Ping Identity Corp.
• RELX Plc
• Safran SA
• SAP SE
• Sennovate Inc.
• Swiss IT Security AG
• Thales Group
• TransUnion
• Verizon Communications Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The Identity and Access Management (IAM) market continues to gain significance in the business world as organizations increasingly prioritize securing their digital assets and safeguarding customer information. IAM systems have become essential in managing and controlling access to critical business applications and data, ensuring only authorized individuals can gain entry. The proliferation of cyber threats, such as identity theft and cyberattacks, has heightened the need for IAM solutions. In today's interconnected business landscape, where healthcare, mobile security, and the Internet of Things (IoT) are becoming increasingly prevalent, the importance of IAM systems in mitigating fraudulent activities and maintaining privacy measures cannot be overstated. Businesses across various sectors, including utilities, manufacturing, logistics, and education, are expanding their IT infrastructure to accommodate the latest technologies, such as cloud deployment, hybrid deployment, and on-premise deployment. IAM systems have become indispensable in managing access to these technologies and ensuring compliance with cyber regulations. The integration of artificial intelligence (AI) and automation in IAM systems has led to significant advancements in capabilities, such as single sign-on (SSO), social login, and CIAM technologies. These advancements have streamlined the user experience while enhancing security and reducing the risk of human error.

However, the increasing complexity of IAM systems and the growing number of companies offering identity and access management solutions pose challenges for businesses. Organizations must conduct thorough audits and evaluations to ensure they are implementing the most effective and efficient IAM systems for their specific needs. The IAM market is expected to continue growing as businesses recognize the importance of securing their digital assets and protecting their customers' identities. The integration of IAM systems with other business technologies, such as audit and compliance, directory services, and provisioning, will further enhance their capabilities and value. Thus, the Identity and Access Management market is a dynamic and evolving landscape that plays a crucial role in safeguarding businesses and their customers in the digital age. As businesses continue to adopt new technologies and expand their IT infrastructure, the need for and effective IAM systems will only become more critical.

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What are the Key Data Covered in this Customer Identity And Access Management (IAM) Market Research and Growth Report?

• CAGR of the Customer Identity And Access Management (IAM) industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the customer identity and access management (IAM) market growth of industry companies

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