Identity and Access Management Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Identity and Access Management Market: Snapshot
The latest corporate intelligence studies report that the global identity and access management market is anticipated to grow commendably over the forecast years, registering a lucrative growth rate of 14.5 % over the forecast years i.e. 2021 to 2028.
The global identity and access management market was valued at US$ 13.41 billion in the base year of the study i.e. 2021.
The research report also specifies that the global identity and access management market will expand and hit the evaluation mark of US$ 34.52 billion by the end of the forecast period i.e. in 2028.
The rising demand for innovative products and solutions in the global identity and access management market can be attributed to the increasing regulatory standards and compliances from the governments across the world as well as the increasing concerns pertaining to security.
The increasing adoption of cloud computing and relevant infrastructure is also fuelling the demand in the global identity and access management market.
The increasing adoption of the global identity and access management market from not only large sized but also from small and medium sized enterprises is also positively affecting the outlook in the industry.
Global Identity and Access Management Market: Overview
Identity and access management is a security discipline and also a framework that supports and includes the technology required to manage electronic identities. In today’s multi-perimeter environments, it has become imperative for businesses to monitor and protect user access for curbing risks and fortifying compliance. Identity and access management solutions can be employed to safeguard social, cloud, and mobile access, determine silos and clarify cloud integrations, avoid advanced insider threats, and execute actionable identity intelligence.
Global Identity and Access Management Market: Key Trends
In a scope of varied sectors, the world identity and access management market is anticipated to seize the growth opportunity arising from the mushrooming trend of mobility and strong accentuation of compliance management. During the forecast period, vendors in the world market could be relying on another trend, i.e. bring your own device (BYOD), which is well-poised to fuel the employment of mobile applications. Moreover, employees today are permitted to use their own devices from various locations for company work. This has exposed companies to a number of cyber threats and also as a result of distributed IT environments and changing scenarios. Identity and access management can be effectively implemented to take total control of such circumstances.
At a minimal degree, the global identity and access management market could be affected due to lack of awareness about the solutions and concerns regarding the security of consumer data. However, businesses can overcome this impediment by educating their consumers about information security and engaging with them on a constant basis.
Global Identity and Access Management Market: Market Potential
Garancy IAM Suite, a recently released offering of Beta Systems Software AG, is prognosticated to gain recognition for providing enhanced collaboration betwixt individual components with a significantly expanded radius of functionality. With innovations in functionality, the suite is able to reflect requirement extensions and perpetual changes in all spheres of an organization. It is known for increasing security and offering flexibility in IT compliance and for end users. A new Universal Connect framework has been implemented as part of the latest version to connect proprietary applications more flexibly and faster.
Global Identity and Access Management Market: Regional Outlook
Nations in the Asia Pacific region are investing their time and capital in offering support and funding to local initiatives holding a relation with the digital realm. The upshot is expected to be in the form of a growth that the regional identity and access management market could be proud of. Researchers even predict this growth to run at a lofty CAGR during the course of the forecast period. The other regional markets projected to attract eyeballs could be Europe, North America, Latin America, and the Middle East and Africa.
The top regions of the identity and access management market are envisioned to take advantage of a leading share by the audit, compliance, and governance component and the strong growth of advanced authentication. Advanced authentication, in particular, is envisaged to gain focus as most organizations become cautious about data breaches and sensitive information theft.
Global Identity and Access Management Market: Competitive Landscape
Acquisition is foretold to be a major business strategy adopted by a number of players in the international identity and access management market. IBM, for instance, had acquired Lighthouse Security Group LLC to fortify its identity management software and services by offering a full suite to consumers. Some of the other prominent companies in the market are NetIQ Corporation, Dell EMC, Microsoft Corporation, CA Technologies, Oracle Corporation, Hitachi ID Systems, Inc., and Okta, Inc.
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
Current and Future Threats
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Accurate Trend Analysis
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The reports offer answers to the top 7 questions that revolve around the growth of the market
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