The Physical Identity And Access Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Physical Identity And Access Management Global Market Report 2024, The physical identity and access management market size has grown rapidly in recent years. It will grow from $1.13 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to aging population, prevalence of cardiovascular diseases, improvements in diagnostic technologies, surgical advancements, awareness programs.
The physical identity and access management market size is expected to see rapid growth in the next few years. It will grow to $2.2 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to rising global aging population, increasing incidence of cardiovascular diseases, advancements in treatment modalities, genetic predisposition awareness, healthcare infrastructure development. Major trends in the forecast period include development of next-generation stent grafts, technological integration for remote monitoring, prevalence of abdominal aortic aneurysms (aaa), global aging population, collaborations in research and development.
Growing awareness about data security is expected to propel the growth of the physical identity and access management market going forward. Data security is the process of protecting data from unauthorized access and corruption. Physical identity and access management in the data security process provide personal information, including employee or visitor identities, credentials, and access permissions. Data security measures, such as encryption and access controls, are employed to ensure the confidentiality of information and prevent unauthorized access or disclosure, so rising awareness about data security will drive market growth. For instance, in February 2023, according to a security magazine, an India-based provided information on important enterprise security issues, including risk management and cybersecurity, 67% of firms suffered an identity-related breach in the past year, and 84% of them disclosed one. 60% of organizations reported that each user had over 21 different identities, with 34% stating that each user had between 21 and 30 different identities. Therefore, the growing awareness about data security is driving the growth of the physical identity and access management market.
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The physical identity and access management market covered in this report is segmented –
1) By Type: Software, Services
2) By Anatomy: Authenticator, Reader, Locks, Doors, Host, Controller, Card Management System
3) By Organization Size: Small And Medium Sized Enterprises, Large Enterprises
4) By Industry Vertical: Government And Defense, Energy And Utilities, Information Technology And IT-Enabled Services, Telecom, Banking Financial Services And Insurance (BFSI), Healthcare, Education, Transportation, Airport, Other Industry Verticals
Technology launches are the key trend gaining popularity in the physical identity and access management market. Major companies operating in the physical identity and access management markets are focusing on developing and launching new technologies. For instance, in February 2023, AlertEnterprise, Inc., a US-based company that specializes in cyber-physical security, introduced the Guardian AI Chatbot, powered by OpenAI ChatGPT. The Guardian AI Chatbot is constructed using the acclaimed GPT-3 platform by OpenAI and is intended to provide security operators with critical physical access and security insights with short queries and prompts. The chatbot can quickly respond to a wide range of questions about door reader analytics, visitor management, identity access management, and safety reporting.
The physical identity and access management market report table of contents includes:
1. Executive Summary
2.Physical Identity And Access Management Market Characteristics
3. Physical Identity And Access Management Market Trends And Strategies
4.Physical Identity And Access Management Market analysis
5.Physical Identity And Access Management Market Size And Growth
6. Physical Identity And Access Management Segmentation
7.Physical Identity And Access Management Regional And Country Analysis
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27.Physical Identity And Access Management Competitive Landscape And Company Profiles
28.Physical Identity And Access Management Key Mergers And Acquisitions
29.Physical Identity And Access Management Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- IBM Corporation
- Oracle Corporation
- Nexus Group
- HID Global Corporation
- Alert Enterprise Inc.
- IDCUBE Identification Systems (P) Ltd.
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