WESTFORD, Mass., July 9, 2024 /PRNewswire/ -- According to
SkyQuest, the global Identity and Access Management (IAM)
Market size was valued at USD 13.32
Billion in 2022 and is expected to grow from USD 15.4 Billion in 2023 to reach USD 48.78 Billion by 2031, at a CAGR of 15.6%
during the forecast period (2024-2031).
Rising emphasis on improving the security of digital and physical
environments is boosting the demand for identity and access
management (IAM) solutions. IAM solutions play a vital role in
managing identities, providing secure access to users and keeping
out unauthorized users from accessing crucial data. The growing
sophistication of cyberattacks and the imposition of stringent
safety regulations mandating the use of IAM are also driving the
identity and access management (IAM) market growth. The global
identity and access management (IAM) market is segmented into type,
offering, solution, identity lifecycle management, service,
deployment mode, vertical, and region.
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Identity And Access Management (IAM) Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 15.4
billion
|
Estimated Value by
2031
|
$ 48.78
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 15.6%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type, Offering,
Deployment and Vertical
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Growing number of
digital transactions and adoption of IAM in BFSI
industry
|
Key Market
Drivers
|
Increasing
sophistication of cyberattacks and the need for better access
management
|
Segments covered in Identity And Access Management
(IAM) Market are as follows:
- Offering
- Solution (Data Directory, Identity Lifecycle Management
[Provisioning, De- provisioning], Authentication [Single-factor
authentication, Two-factor authentication, Multi-factor
authentication], Verification, Access Management and Authorization
[Single sign-on, Privileged Access Management (PAM)], Audit,
Compliance, and Governance), Services (Integration and Deployment,
Support and Maintenance, Consulting)
- Type
- Workforce IAM, Consumer IAM
- Deployment
- Vertical
- BFSI, Travel, Tourism and Hospitality, Healthcare, Retail and
E-commerce, Education, IT and ITeS, Government and Defense, Others
(Telecom, Energy and Utilities, Gaming and Gambling, Media)
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Workforce IAM Solutions Take Precedence as Need for Robust
Security in Organizations Increase
The frequency of sophisticated cyberattacks has increased around
the world and this has pushed identity and access management (IAM)
companies to improve their security framework. Workforce IAM
solutions play a crucial role in access management to prevent
unauthorized use of a company's resources. Growing adoption of
digital transformation initiatives and rising emphasis on
protecting networks are also forecasted to create an opportune
setting for identity and access management companies in the
future.
A high emphasis on improving customer experience whilst
maintaining optimal security is projected to help identity and
access management companies grow through this segment. Retail,
e-commerce, and banking are some key industries where the demand
for consumer IAM solutions is projected to increase at a notable
CAGR in the future.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/identity-and-access-management-market
High Demand for Patient Data Protection Promotes IAM Use in
Healthcare Industry Vertical
The growing digitization of the healthcare industry has resulted
in a growing amount of patient data, safeguarding this data is a
necessity as this data in the wrong hands could compromise patient
safety. Identity and access management (IAM) solutions are
extensively being deployed by healthcare providers to bolster their
data security. Increasing the use of digital healthcare systems
will also uplift the demand for novel IAM solutions in the
future.
Meanwhile, the banking, financial services, and insurance (BFSI)
industry is projected to present highly attractive opportunities
for identity and access management (IAM) providers over the coming
years. A growing number of digital transactions and rapid
digitization of the BFSI sector are also forecasted to create new
opportunities for identity and access management companies going
forward. The manufacturing industry and IT & telecom industry
are also slated to be highly opportune for all identity and access
management (IAM) market players in the long run.
New as well as established IAM providers can succeed in the
market by targeting the right segments. Upcoming identity and
access management (IAM) companies should focus on consumer IAM and
BFSI segments to penetrate the market and compete with leading
market players. Established IAM companies need to focus on
innovation and offer robust workforce IAM solutions to help
maintain their dominance. Targeting the right segment will be
essential for any identity and access management (IAM) company to
get the best return on its investments.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Managed Security Services Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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