The global identity and access management market is expected to witness a CAGR of around 11% to exceed $20 billion revenue
Bangalore, India, July 15, 2019: With its recently published study “Global Identity and Access Management (IAM) Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for identity and access management (IAM) will continue to grow, owing to the increasing need among enterprises to mitigate security risks and authenticate the user’s identity to ensure that right access is being given to the right individual.
IAM solutions are key weapons in terms of physical as well as cybersecurity defense. IAM is an essential part of any organizations’ security plans, as it restricts the entry of malicious threat vectors into an organization network. Enterprise users typically have several usernames and passwords, which they need to manage securely. These users, most of the time, use weak passwords and store them in an unsecured manner, which put the business at risks. According to industry experts, around 80% of the data breaches involve revealing passwords at some instance in the attack vector. Identity and access management solutions are changing the enterprise landscape and helping them in managing more digital identities to mitigate the risk of attacks.
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Rising concerns of data breaches & cyber-attacks and rapid increase in the adoption of technologies such as BYOD, cloud computing, and IoT are driving the identity and access management market growth. This trend is anticipated to continue, fueling the market growth at a CAGR of around 11% to reach revenue of more than $20 billion.
North America is maintaining the dominant position in the identity and access management market, followed by Europe and APAC. North America is leading in this segment due to the changing needs of the workforce and increased adoption of cloud-based solutions that require enhanced security.
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On-premise deployment mode of IAM solutions contributes significantly towards market revenue. On the other hand, the solutions are also expected to be largely deployed across application areas such as governance, compliance, and audit, showcasing the highest growth rate over other application areas. In terms of vertical penetration, the BFSI segment is the top user of IAM solutions currently, while energy & utilities is expected to increase at the highest CAGR during the forecast period.
“Identity and access management solutions, offering provisioning and governance capabilities, are helping enterprises in managing user identities and securing enterprise computer and cloud networks,” pointed out Sonam Chawla, Research Analyst, Infoholic Research.
Key Segments of the Report Include:
- User Provisioning
- Single Sign-on
- Multifactor Authentication
- Password Management
- Secure Directory
- Governance, Compliance, and Audit
- Key Verticals
- Retail & e-Commerce
- Healthcare & Life Sciences
- Telecom & IT
- Energy & Utilities
- North America
- Rest of Europe
- Rest of APAC
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP