Identity & Access Management Market

Top 2 Factors Shaping Identity and Access Management Market

• Adoption of IAM Services & Solutions Accelerating across Verticals

  The expansion of various industry verticals is expected to contribute to the growth of the identity and access management market across the globe. Information and data security is becoming the top priority for enterprises to secure enterprise information and other digital assets. In the recent past, various industry verticals have witnessed growth. These include the banking & financial sector, manufacturing, ITES, healthcare, telecom, and utility.

  To protect themselves from cyberattacks and other frauds, these industry verticals are expected to adopt identity and access management solutions to ensure that only authorised individuals have access to their resources at the right time and for the right reasons.

  Moreover, identity and access management verifies user access requests and either grants or denies permission to protected company materials. It also deals with various administrative functions, such as password problems, and helps in the management of the identities of employees based oversees. The standards and applications of identity and access management include the maintenance of user life cycles and various application accesses and singular logons.

• Escalating Significance of Reliable IT Security & Counter-Cybercrime Measures

  Owing to the various initiatives undertaken by companies in various countries, and rising awareness about cybercrime and data security, are pushing the demand for identity and access management, significantly. Companies are taking steps to secure their data and enterprise information from various internal and external digital attacks on the cloud as well as on-premise. Increasing awareness about cybercrimes and data security is expected to drive the identity and access management market during the forecast period.

  Furthermore, the digitisation of workloads is growing steadily in various countries, such as India, China, the U.S., France, Germany, and Japan, and enterprises are adopting mobile first and cloud first. While this exposes new endpoints to cyberattacks and digital frauds, it also provides significant opportunities for the adoption of identity and access management solutions.

Identity and Access Management Market Structure Analysis

• The global identity and access management market represents a moderately consolidated competition landscape, wherein Tier 1 companies hold a revenue share of approximately 38%.
• While most of the key players maintain a strategic focus on the North America, Europe, and East Asia markets, the report underscores that technology assessment will be an important developmental strategy for companies.
• Leading players in the identity and access management market are also concentrating on entering strategic partnerships and collaborations with other security system providers, which is underscored as a strong differentiation strategy.

Identity & Access Management – the Nexus of Customer Security and Privacy Solutions

The industrial sector is witnessing a rigid dichotomy between the increasing dependence of internet-based business operations and the cyber-threats generated by the very same IT solutions. End-users’ approach towards customer satisfaction and security concerns are changing to generate a significant need for identity & access management solutions against security threats, such as identity frauds and account takeover, which translates into the highly-lucrative opportunities for stakeholders in the market.

Market Set to Witness a Threefold Revenue Growth Between 2018 and 2028

End-user industries are entering the Tech-Era with a conscience about the information of security against potential cyber-threats. With end-users pushing boundaries by investing heavily in an efficient security system, identity & access management solutions and services will soon become ubiquitous across diverse industrial sectors.

Stakeholders Turn to Emerging Economies as Developed Markets Approach Saturation

Leading stakeholders in the identity access & management market in North America are leveraging the technological expertise to maintain the lead on the global front. However, the deployment of identity access & management solutions and services is dwindling steadily in developed regions such as North America and Europe.

South East Asia is becoming home to a mounting number of small- and medium-scale enterprises (SMEs), generating need for efficient security systems to offer security and privacy to their customers. Leading stakeholders are modifying their business strategies to unlock untapped potential in emerging economies in the Asia Pacific region.

The Broader Perspective

Digitization and technological transformation has made a diverse range of industries involving IT-operations highly vulnerable to cyber threats and attacks. It is becoming a need to stay abreast of next-generation identity & access management systems to modify the security strategies of the organization.

Increasing deployment of identity access & management in public administration and finance & insurance organizations is expected to shape the future strategies of identity & access management service providers and other stakeholders in the market

How Growth will Unfold

Leading players in the identity & access management market are adopting strategies to sync with the changing requirements of end-user industries in the Information Age. With advent of the cloud technology and the fourth industrial revolution, a mounting number of end-user industries are adopting Identity as a Service (IDaaS) in lieu of the outmoded on-premise identity access & management services.

Moreover, introducing identity access & management solutions that can be compatible with various software is becoming an epicenter of stakeholders’ business strategies to boost deployment among SMEs.

Key Segment

By Component

• Solution
  • Multi-Factor Authentication
  • Single Sing-in
  • Access Security
  • Directory Management
• Services
  • Consulting Services
  • Integration and Deployment Services
  • Maintenance and Support Services

By Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

By Deployment

• On-Premise
• Cloud

By End User

• Small and Medium Enterprises (SMEs)
• Large Enterprise

By Vertical

• Finance and Insurance
• Information (Telecom and IT)
• Public Administration
  • Government
  • Military and Defense
• Scientific and Technical Services
• Health Care and Social Assistance
• Transportation and Warehousing
• Media and Entertainment
• Manufacturing