Overview and Scope
Identity and access management (IAM) refers to the IT security discipline, framework, and solutions for managing digital identities, as well as controlling user access to critical information within organizations. It help organizations to comply with regulatory requirements and demonstrate due diligence in protecting sensitive data.
Sizing and Forecast
The identity and access management market size has grown rapidly in recent years. It will grow from $16.23 billion in 2023 to $18.83 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to rise of cyber threats, increasing adoption of cloud services, digital transformation initiatives, compliance regulations.
The identity and access management market size is expected to see rapid growth in the next few years. It will grow to $33.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to biometric authentication integration, increasing proliferation of internet of things (IoT) devices. Major trends in the forecast period include biometric authentication, adoption of cloud-based technology, multi-factor authentication, adaptive access control, adoption of blockchain technology.
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Segmentation & Regional Insights
The identity and access management market covered in this report is segmented –
1) By Component: Provisioning, Directory Service, Single Sign-On (SSO), Password Management, Advanced Authentication, Audit, Compliance, And Governance, Other Components
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By End-user: Banking, Financial Services, And Insurance (BFSI), Energy, Oil And Gas, Information Technology (IT) And Telecommunication, Education, Healthcare, Public Sector And Utilities, Manufacturing, Other End-users
North America was the largest region in the identity and access management (IAM) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the identity and access management (IAM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing cyber threats is expected to propel the growth of the identity and access management market going forward. Cyber threats refer to potential dangers or risks posed by malicious activities to damage data through a wide range of activities and tactics that target computer systems, networks, and digital information. The adoption of emerging technologies provides cybercriminals with a relatively anonymous and decentralized means to gain unauthorized access or launch malware attacks. Identity and access management provides the first line of protection, enabling safe user privilege management, authentication, and authorization to lessen the effect of cyber threats and strengthen the overall cybersecurity position. For instance, in February 2023, according to the Cyber Security Centre, an Australia-based cyber security agency, there were 76,000 cybercrime reports in 2022, reflecting a 13% increase from the previous year. Therefore, increasing cyber threats is driving the growth of the identity and access management market.
Key Industry Players
Major companies operating in the identity and access management market are Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, The International Business Machines (IBM) Corporation, SecureAuth Corporation, OneLogin Inc., Broadcom Inc., Thales Group, Evidian S.A., Akamai Technologies, Micro Focus International plc, Okta Inc., Netwrix Corporation, RSA Security LLC, CyberArk Software Inc., Ping Identity Corporation, Delinea, ForgeRock Inc., Simeio Solutions, One Identity LLC, Avatier Corporation
The identity and access management market report table of contents includes:
1. Executive Summary
2. Identity And Access Management Market Characteristics
3. Identity And Access Management Market Trends And Strategies
4. Identity And Access Management Market – Macro Economic Scenario
5. Global Identity And Access Management Market Size and Growth
…..
32. Global Identity And Access Management Market Competitive Benchmarking
33. Global Identity And Access Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Identity And Access Management Market
35. Identity And Access Management Market Future Outlook and Potential Analysis
36. Appendix
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