Asia Pacific to Register Fastest Growth in Identity & Access Management (IAM) Market
Increasing expenditure on
security solutions by governments and large-scale enterprises to curb identity
theft and to adhere to regulatory compliance to drive global identity &
access management (IAM) market
According to
TechSci Research report, “Global Identity
& Access Management (IAM) Market By Solution, By Deployment Mode, By
Organization Size, By End User, By Region, Competition, Forecast &
Opportunities, 2024”, the global identity &
access management (IAM) market is forecast to witness a CAGR of 12% during the
forecast period owing to the increasing web-based applications, risk management
solutions such as policy-based compliance, and audit management coupled with
cost control measures, among others. Additionally, proliferation of
Bring Your Own Devices (BYOD), Internet of Things (IoT), mobility, and remote
workforce is further spurring the market growth. However, complex
infrastructure and lack of awareness among the consumers can hamper the growth
of market during forecast period.
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The global
identity & access management (IAM) market is segmented based on solution,
deployment mode, organization size, end user, company and region. Based on
solution, the market can be fragmented into provisioning; password management,
directory service, advanced authentication, single sign-on (SSO), audit,
compliance and governance. The advanced authentication segment is expected to
dominate the market during forecast period on account of its less complex
implementation and strong adoption in the market. Based on end user, the market
can be categorized into BFSI, IT & Telecom, education, retail, healthcare,
others. The BFSI segment dominates the market on account of the growing
digitalization across the sector, which is leading to the rapid adoption of IAM
solutions due to hefty financial losses caused by identity frauds, unauthorized
access, and malicious cyber-attacks.
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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 are some of the leading players operating
in global identity & access management (IAM) market. “Asia-Pacific is expected
to be the fastest growing market for Identity & Access Management (IAM) during
the forecast period, owing to the growing digitization across
enterprises and rapid adoption of emerging technologies such as IoT and cloud
computing. Additionally, the stringent regulations implemented by governments
across the region are strengthening the region’s security base, maintaining
economic stability, among others. For instance, in December 2018, the Japanese
government issued a draft outline of its cyber security strategy for the next
three years, focusing on improving cyber security in the private sector.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Identity & Access Management (IAM)
Market By Solution, By Deployment Mode, By Organization Size, By End User, By
Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global
identity & access management (IAM) market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
identity & access management (IAM) market.
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