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The identity and access management (IAM) market size is projected to increase by USD 14.80 billion, at a CAGR of 13.04% between 2023 and 2028. The growth rate of the market depends on several factors, including the increase in data thefts globally, the rapid growth of IoT networks, and the increasing need to comply with regulatory requirements related to IAM.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 10 market companies, including, CyberArk Software Ltd., EmpowerID Inc., ForgeRock Inc., FusionAuth, International Business Machines Corp., Microsoft Corp., Okta Inc., Ping Identity Corp., Quest Software Inc., Salesforce Inc., SAP SE, SecureAuth Corp., Simeio Solutions LLC, Zoho Corp. Pvt. Ltd., Zuora Inc., ASSA ABLOY AB, Broadcom Inc., and Oracle Corp.. Additionally, Avatier Corp. offers identify and access management such as a simple to software system that makes it easy to manage and maintain access control. Software Management Cards for activating the card issuing system and initializing the door locks.
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The rapid growth of Internet of Things (IoT) networks is notably driving market growth. IoT refers to a network of objects, such as vehicles and home appliances, which are embedded with software, actuators, and sensors. These objects can connect and exchange data with each other. However, some IoT providers do not invest in the backend systems required to support IoT securely, which leads to the negligence of important data management features, such as access governance, security, and privacy management. This makes IoT customers vulnerable to privacy violations, security attacks, and poor customer experiences.
Moreover, IAM offers adaptive authentication, end-to-end data encryption, overload detection, and automatic load balancing to IoT devices, which provides them with robust security capabilities. An IAM solution enables biometrics, single sign-on, and social login capabilities, which are crucial for improving customer experiences. An IAM solution offers self-service account management workflows, prebuilt registration templates, and best-practice password management features for IoT devices, which helps in enhancing user experiences with strong and effective authentication methods such as MFA. These factors are expected to propel the growth of the market during the forecast period.
Increased adoption of BYOD concept is one of the primary market trends shaping growth. The adoption of the BYOD concept by firms has allowed employees to access organizational data and resources without being tied to a single location. Mobile devices are now becoming primary devices among employees in an organization. SMEs are increasingly shifting to BYOD for professional tasks, and this move has helped them improve productivity and efficiency significantly. Further, the growing popularity of BYOD policies among organizations has increased the use of personal devices such as laptops, smartphones, and tablets in workplaces.
Further, aligned with market trends and analysis, enterprises are adopting IAM to make networking systems more robust and secure. From a technical standpoint, among IAM, Identity As a Service (IDaaS) applications can be easily installed and configured quickly as compared with on-premises IAM applications. IDaaS takes less implementation time than on-premises IAM solutions, which is one of the key factors behind the rising popularity of IDaaS. Thus, with the rising adoption of BYOD policies across the end-user verticals, the growth of the market will witness a positive impact during the forecast period.
Threat from open-source IAM solutions is a challenge that affects market growth. Open-source IAM solutions can be downloaded and run on all platforms and are becoming increasingly popular in developing economies such as India and China. Also, using open-source IAM solutions gives enterprises less upfront expense and more flexibility. Thus, enterprises, especially SMEs who are looking for a better plan to grow their business at a low cost, can opt for open-source IAM solutions.
For instance, Soffid, a fully available and free open-source software solution provider, offers an open-source full SSO and full IAM solution for administrators. Also, this solution has control over all permissions and access privileges allocated to key personnel, thus keeping the assets safe and secure. Such instances are promoting cost-sensitive small enterprises to shift to open-source IAM solutions, which is likely to inhibit the growth of the market during the forecast period.
The market share growth by the large enterprises segment will be significant during the forecast period. The use of IAM by large enterprises is expected to increase during the forecast period owing to its benefits such as performance; affordability; security; enterprise-class scalability; and easy management of shared sensitive information, including documents, passwords, and digital identities. This solution also helps large enterprises effectively manage numerous identities.
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The large enterprises segment was valued at USD 7.23 billion in 2018. The rising adoption of BYOD policies among large enterprises is expected to fuel the demand for IAM solutions. These policies enable employees to access corporate information and applications. In addition, large enterprises with complex IT environments need IAM vendors to manage access requirements for both on-premises and cloud-based applications. These factors will increase the demand for IAM among large enterprises and, in turn, fuel the growth of the IAM market during the forecast period.
On-premises IAM requires end-users to have a software license and is more expensive than cloud-based IAM, as it requires in-house hardware and huge capital investment in software licenses. However, on-premises IAM is highly secure, as there is no third-party interference. Customization and higher data security offered in the on-premises deployment model are some of the factors responsible for the growth of the identity and access management market. Currently, many large enterprises are giving prominence to on-premises IAM solutions, as they receive a high level of protection with their implementation. Furthermore, confidential information of the organizations is not managed by third-party service providers and is under the control of the organization's IT administration staff. Overall, the on-premise deployment segment is expected to witness growth while simultaneously driving the growth of the IAM market during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In North America, the adoption of identity and access management (IAM) solutions is driven by robust IT infrastructure, stringent security regulations, and increasing cloud-based security adoption. IAM adoption is further accelerated by rising cyberattacks targeting confidential data. Technological trends like biometrics and multi-factor authentication are on the rise.
Additionally, strategic alliances among IAM market players, such as Ping Identity and Microsoft, bolster market growth. Despite financial strength, cyber-fraud incidents, including identity theft, pose significant challenges, necessitating robust cybersecurity measures. Because of this, businesses have adopted IAM software to safeguard themselves against security breaches and cyberattacks, which will result in the growth of the identity and access management (IAM) market in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dell Technologies Inc.: The company offers identify and access management solutions such as ACF2, multi factor authentication and top secret for ensuring scalable and streamlining mainframe security. The company enforce granular policies and ensure proper access to resources and data across all Mainframe External Security Managers.
Market analysis and report of 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 market 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.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
The identity and access management market is witnessing substantial growth driven by several key factors. With a robust compound annual growth rate (CAGR), IAM solutions are leveraging Artificial intelligence (AI) to combat rising concerns over Fraudulent and cybercrime activities. The adoption of Cloud technologies is reshaping the landscape, offering scalable and cost-effective solutions. Regulatory compliance management remains paramount, pushing organizations towards IAM solutions embedded within Digital platforms. Automation streamlines processes, addressing concerns like Identity analytics, Inactive accounts, and Policy violations. Enterprises are increasingly prioritizing Enterprise identity and security concerns, driving demand for IAM solutions.
Further, from Production costs to application administration, IAM addresses various aspects, including Connectivity and Identity modifications. User verification methods, including Biometric solutions, mitigate risks of Data breaches and Digital identity fraud in the age of Bring-your-own-device (BYOD) policies. While Installation costs may pose initial challenges,
Additionally, cloud-based IAM services offer scalability and flexibility, aligning with Internet services and Cloud computing trends. IAM solutions encompass Audit, compliance & governance, Directory service, Provisioning, and support Cloud deployment as well as Hybrid deployment models. With Wide-Area Network (WAN) integration, IAM addresses Mobile device management (MDM) requirements, ensuring Capital technology investments yield optimal returns. IAM contracts underscore the importance of robust security measures in an increasingly interconnected digital landscape.
Identity And Access Management Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.04% |
Market Growth 2024-2028 |
USD 14.80 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.15 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Avatier Corp., CyberArk Software Ltd., Dell Technologies Inc., EmpowerID Inc., ForgeRock Inc., FusionAuth, International Business Machines Corp., Microsoft Corp., Okta Inc., Ping Identity Corp., Quest Software Inc., Salesforce Inc., SAP SE, SecureAuth Corp., Simeio Solutions LLC, Zoho Corp. Pvt. Ltd., Zuora Inc., ASSA ABLOY AB, Broadcom Inc., and Oracle Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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