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Physical Identity and Access Management (PIAM) Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 110 Pages
  • January 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4775046
UP TO OFF until Jun 30th 2023
The physical identity and access management (PIAM) software market is expected to register a CAGR of 13% during the forecast period (2021 - 2026). PIAM systems have the capability to deliver unified identity management capabilities throughout an ecosystem, including physical security.
  • An increased number of networked devices in the fields of IT influenced the firms to establish or deploy and manage physical security systems. PIAM solutions can provide the required features and functions to overcome the IT professional's physical security challenges.
  • An increase in the number of commuters at the airport led to an increase in the security concern, especially for the areas that are restricted for common people, thus offering an excellent opportunity for the PIAM market. PIAM software allows the airport authority to better manage the life cycle of identities.
  • The benefits offered by PIAM include a reduction in operational costs, security and customer service, continuity and future proof, etc. These factors are also expected to drive the PIAM market during the forecast period. As PIAM is a completely automated system, which connects the existing systems and automates key processes and workflows, it allows hospitals to optimize security options cost-effectively.

Key Market Trends

BFSI is Expected to Hold the Largest Market
  • Real-time management of identities and related areas that are dispersed across physical and logical security infrastructure becomes crucial. Therefore, creating efficiencies and automation in identity management through physical access and identity management may help in curbing such silos.
  • Various regulations, such as BASEL II and GLBA, have become fixtures from a compliance standpoint and are likely to be influential in boosting the PIAM market positively, during the forecast period.
  • In April 2019, AlertEnterprise announced the addition of biometric facial recognition technology to its Visitor Management Kiosk software, to deliver frictionless access security to organizations for check-in processes by employees, visitors, contractors, and guests. This software provides complete physical identity and access management solutions when combined with the Enterprise Guardian software.
  • PIAM offers some benefits to the financial institutions, such as generating reports and automatically extracting compliance-related information from data on a regular basis, thus demonstrating compliance with each of the regulations governing their operations.

North America is Expected to Hold the Largest Share in Market
  • Inorder to better protect a person's physical identity credentials, as well as digital identity, from a potential loss or threat, the convergence of physical and logical security and identity authentication methods play an important role.
  • According to the Identity Theft Association, there were 135 data breaches in the United States, from 2014 to 2018, in the fields of banking, credit, financial institutions. These breaches have stirred the need for a solution that can help in preventing such occurrences, which may, in turn, boost the PIAM market in the region.
  • The increased spending by the government in the aerospace and defense sector is expected to positively influence the PIAM market throughout the forecast period. For instance, NATO projected that, in 2018, the United States was planning to spend USD 1,989 per capita on military causes.
  • According to a report from the Office of Inspector General from the US Environmental Protection Agency, in 2017, CSB’s identity and access management and incident response metric domains were weak, as they were unable to detect the attacks in a timely manner and required improvements. Therefore, physical identity and access management software can help in coping with such threats.

Competitive Landscape

The competition in the PIAM software market is governed by the presence of some key players, such as AlertEnterprise, HID Global, etc. Overall, the competitive rivalry within the industry is high, pushing the vendors to make continued innovations in product and service offerings targeted toward the customers' emerging needs. Through strategic partnerships and mergers, collaborations, and acquisitions, the companies operating in the market are able to maintain their foothold in the market, with the view of providing better solutions and products to their customers.
  • April 2019 - HID Global, a worldwide leader in trusted identity solutions, announced the availability of a new HID Authentication Service, which is a part of its cloud identity platform, designed to deliver a suite of trusted identity solutions.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Compliance Mandates from Governments
4.3.2 Management of On-site Visitors and Contractors
4.4 Market Restraints
4.4.1 Security of Data Stored with Third Party (Cloud)
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5.1 By Type
5.1.1 Software
5.1.2 Services
5.2 By End-user Industry
5.2.1 BFSI
5.2.2 Aerospace and Defense
5.2.3 Government
5.2.4 IT and Telecom
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6.1 Company Profiles
6.1.1 HID Global Corporation
6.1.2 AlertEnterprise Inc.
6.1.3 IDCUBE Identification Systems (P) Ltd
6.1.4 Micro Focus International PLC
6.1.5 Amazon Web Services Inc.
6.1.6 Convergint Technologies LLC
6.1.7 WIPRO Ltd
6.1.8 Acces Security Corporation
6.1.9 IBM Corporation
6.1.10 SAASPASS Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • HID Global Corporation
  • AlertEnterprise Inc.
  • IDCUBE Identification Systems (P) Ltd
  • Micro Focus International PLC
  • Amazon Web Services Inc.
  • Convergint Technologies LLC
  • WIPRO Ltd
  • Acces Security Corporation
  • IBM Corporation