Identity & Access Management (IAM) Market - Global Industry Size, Share, Trends, Competition, Forecast & Opportunity, 2018-2028

Global identity & access management (IAM) market is expected to register a moderate CAGR during the forecast period

The Global identity & access management (IAM) market is expected to register a moderate CAGR during the forecast period. The global identity & access management (IAM) market is driven by the increasing digitalization and the emergence of advanced technologies. Additionally, factors such as rising demand for security governance, enforcement concerns, distributed systems, and workforce, as well as lower quality of security services within organizations, among others are expected to further propel the market during the forecast period.

The global identity & access management (IAM) market is segmented on the basis of solution, deployment mode, organization size, end user, company, and region. Based on deployment mode, the market is further bifurcated into on-premises and cloud. The cloud segment is expected to register faster growth during forecast period on account of the associated advantages such as economies of scale, no hardware deployment, reduced costs, simplified management, among others. Based on organization size, the market is further split into SMEs and large enterprises. The large enterprise segment is expected to dominate the market owing to the early adoption of IAM solutions by them.

Rise in need to reduce the rising security challenges

Data breaches and cyberattacks are becoming more common and attempting to put millions of individual's personal data at risk, which therefore increases the need to reduce the rising security challenges. In May 2021, the total number of cyberattacks and data breaches was a record 116 million. Human error and weak passwords account for 52% of data breaches, therefore driving the need for development of Identity & Access Management (IAM) technology.

The management of electronic or digital identities is made easier with the help of the identity and access management (IAM) framework, which consists of business procedures, laws, and technological advancements. IAM frameworks allow information technology (IT) managers to manage user access to sensitive data within their organizations.

Rising demand for automation in the workplace

Digitization helps companies in a wide range of ways and modern working life has evolved dramatically in the last decade. Working habits and communications are more adaptable, digital, than ever before, which is largely due to the millennial workforce's expansion. Moreover, the traditional office space, has also evolved into the digital collaborative working platforms. As a result, increasingly sophisticated access control and security products and systems are required. Therefore, Identity & Access Management (IAM) play a critical role in physically and digitally empowering workplaces.

Furthermore, IAM not only secures the modern workplace but can also save IT and security teams time and money and the ability to empower workers with greater control over how, when, and where work should be done. This boosts productivity and efficiency which eventually increases the demand for the Identity & Access Management (IAM).

Upcoming trends that revolutionize Identity & Access Management sector:

• Single Sign-On Systems and MFA
• Blockchain
• Adapting Biometrics
• Artificial Intelligence
• Internet of Things (IoT)

Market Segmentation

Global Identity & Access Management (IAM) market is segmented on the basis of solution, deployment, end use industry, and region. Based on solution, the market can be segmented into fingerprint recognition, facial recognition, iris recognition, hand/palm recognition, voice recognition, vein scanner and others including DNA recognition, signature recognition, etc. On the basis of deployment, the market is further split into contact based, contact less, and hybrid. By end use industry, the market can be segmented into government and defense, BFSI, consumer electronics, IT and telecom, healthcare and lifesciences, retail and e-commerce, and others.

Market Players

Major market players in the Global Identity & Access Management (IAM) market are IBM Corporation, Microsoft Corporation, Oracle Corporation, CA Technologies, Dell EMC, Centrify Corporation, Hewlett-Packard Company, Hitachi ID Systems Inc., NetIQ Corporation, Okta, Inc., and others.

Key Developments

• In July 2020, Auth0, raised USD 120 Million in Series F funding led by Salesforce Ventures. The company is focused on expansion and product innovation to meet growing demand for extensible identity platforms that enable secure access.

Report Scope

In this report, the Global Identity & Access Management (IAM) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Identity & Access Management (IAM) Market, by Solution:

• Provisioning
• Password Management
• Directory Service
• Advanced Authentication
• Single Sign-On (SSO)
• Audit
• Compliance
• Governance

Global Identity & Access Management (IAM) Systems Market, by Deployment:

• On-premises
• Cloud

Global Identity & Access Management (IAM) Systems Market, by Organization Size

• SME
• Large Organization

Global Identity & Access Management (IAM) Systems Market, by End Use Industry:

• Government and Defense
• BFSI
• Consumer Electronics
• IT and Telecom
• Healthcare and Lifesciences
• Retail and E-commerce
• Others

Global Identity & Access Management (IAM) Market, by Region:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Identity & Access Management (IAM) market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to 15).

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