According to the report, the global identity and access management market was around USD 10.12 billion in 2018 and is expected to reach approximately USD 23.38 billion by 2025, at a CAGR of slightly above 12.84% between 2019 and 2025.
New York, NY, July 01, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Identity and Access Management Market By Component (Single Sign-On, Directory Services, Advanced Authentication, Audit, Compliance, and Governance, and Password Management), By Deployment (On-Premises and Cloud), and By Vertical (BFSI, Telecom and IT, Retail and CPG, Public Sector and Utilities, Energy, Education, Manufacturing, Healthcare and Life Sciences, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global identity and access management market was around USD 10.12 billion in 2018 and is expected to reach approximately USD 23.38 billion by 2025, at a CAGR of slightly above 12.84% between 2019 and 2025.
Identity and access management (IAM) is a supporting structure of business processes, technologies, and policies that allow the management of digital or electronic identities. With IAM structure, IT managers can manage user access to important information within their companies. IAM products also provide role-based access control that allows system administrators to provide access to networks or systems based on the roles of individual users.
Browse through 53 Tables & 32 Figures spread over 137 Pages and in-depth TOC on “Global Identity and Access Management Market: Industry Size, Growth, Market Share, Segments, Applications, Analysis and Forecast, 2018–2025”.
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The rising momentum of web-based applications and remote working has led the users to stay connected with organizational resources without putting security at risk. Moreover, organizations are hosting applications on the cloud, making it extremely important to manage their authentication and authorization for various applications and organizational data, thereby driving the identity and access management market. Numerous cloud-based delivery models, such as IaaS, SaaS, and PaaS, are used by IT departments and IT service providers to enhance organizations’ identity and access management. Additionally, there has been a sharp rise in the number of data records with the growing number of data breaches in the last few years, which has also propelled the market. Also, cybercrime is rising at an alarming rate causing organizations’ to seek help from identity and access management service providers to help them manage user identity and accessing control. IAM adoption is growing due to its cost-effective way of protecting an organization’s critical data. The small- and medium-sized enterprises worldwide are anticipated to invest in identity and access management projects over the forecast period, owing to cost-effective pricing offers like monthly subscription and usage-based pricing provided by IAM service providers. However, the lack of information related to consumer data security may hamper the identity and access management market.
On the basis of deployment type, the identity and access management market is bifurcated into on-premises and cloud. On-premises model is expected to hold a substantial market share over the projected period, as this model provides secured and continuous access to numerous applications.
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The North American identity and access management market is anticipated to witness substantial demand over the forecast period. The growth in the region is anticipated to be driven mainly due to the presence of leading identity and access management services providers, growing demand for identity and access management in various industries, such as energy, education, telecom and IT, etc. In April 2016, Microsoft launched its Azure AD Privileged and Azure AD Identity Protection Identity Management for commercial purposes, which offers identity protection for enterprises. Moreover, technologically advanced countries like Canada and the U.S. are expected to drive this regional market further in the projected period.
The European identity and access management market contributed a major market share globally in 2018 and is anticipated to show notable growth over the forecast time period. This can be attributed to the increasing adoption of identity and access management solutions and rising inclinations of small- and medium-sized enterprises in major countries like Germany, France, and the UK toward identity and access management.
Browse the full “Identity and Access Management Market By Component (Single Sign-On, Directory Services, Advanced Authentication, Audit, Compliance, and Governance, and Password Management), By Deployment (On-Premises and Cloud), and By Vertical (BFSI, Telecom and IT, Retail and CPG, Public Sector and Utilities, Energy, Education, Manufacturing, Healthcare and Life Sciences, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/identity-access-management-market
The Asia Pacific identity and access management market is expected to grow considerably over the anticipated time period. In terms of adoption of identity and access management, some countries in the region are technological sound. Improved economic growth in countries like India and China is also expected to drive market growth. The development in the connectivity sector, fast network, and large IT infrastructure are other key factors driving this regional market. The rapidly escalating penetration of smartphones, increasing cybercrime, fast-paced development of the industrial sector, and rising trend of BYOD and cloud-based solutions along with growing mobile applications usage are further expected to drive the region’s identity and access management market in the future.
Latin America and the Middle East and Africa are expected to witness moderate market growth in the upcoming years. The growing use of cloud technology, an increasing number of cloud-based network users, and rising mobility are the key factors driving these regional markets.
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Some noticeable players of the global identity and access management market include IBM Corporation, Oracle Corporation, CA Technologies, Microsoft, Dell EMC, NetIQ Corporation, Okta, Hitachi ID Systems, and Sail Point Technologies.
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This report segments the global identity and access management market into:
Global Identity and Access Management Market: Component Analysis
Global Identity and Access Management Market: Deployment Analysis
Global Identity and Access Management Market: Vertical Analysis
Global Identity and Access Management: Regional Analysis
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