Identity & Access Management (IAM) Market to Register an Exceptional CAGR Through 2028F
Rising demand for identity
protection solutions is a significant factor driving the growth of the global Identity
& Access Management (IAM) market during the forecast period of 2024-2028.
According to TechSci research
report, “Global Identity &
Access Management (IAM) market – industry size, share, trends, competition,
opportunity and forecast, 2018-2028F”, the global Identity
& Access Management (IAM) market is projected to expand in the coming years.
Advancements in the technologies such as AI, ML, blockchain and Identity &
Access Management (IAM) are driving the Identity & Access Management market.
Identity and access
management (IAM) is the process of controlling access to information over time.
The creation of distinct identities for users and systems, as well as the
linking of system-and application-level accounts to these identities, are all
parts of this cross-functional activity.
The use of Identity &
Access Management (IAM) is increasing significantly in both the public and
private sectors as Identity & Access Management (IAM) have a wide variety
of application which requires reliable personal recognition schemes to either
confirm or determine the identity of an individual requesting their services. For
instance, in March 2018, British Airways enabled new biometric boarding gates
at Orlando International Airport, to board almost 240 customers in around 10
minutes.
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The global identity
& access management (IAM) market is segmented on the basis of solution,
deployment mode, organization size, end user, company, and region.
North America
led the market in terms of revenue. North America has the most advanced
infrastructure in terms of the adoption of cyber technology. Cyber security is
seen as a significant economic and national security challenge in North America
as there is a rising number of security threats and data breaches. Healthcare, BFSI,
and manufacturing sectors faced most data breaches in 2021. Therefore, there
has been a continuing rise in the number of healthcare data breaches in the US.
Moreover, with the adoption of trends such as changing workforce needs, BYOD,
increasing cloud application adoption, and the need to ensure regulatory
compliance in North America is expected to drive IAM market growth.
On the basis of
deployment, the market is segmented into on-premises and cloud deployments.
Both cloud and on-premises solutions are offered to customers by major market
players. During the forecast period, Cloud-based IAM solutions are anticipated
to have the fastest rate of growth. According to the March 2021 study by
ForgeRock, 80% of IT decision-makers have already adopted and expanded their
use of, or plan to adopt cloud-based solutions in the next two years. The
increasing adoption of cloud-based solutions by SMEs drives growth in this
segment. The on-premises segment is expected to grow steadily. Additionally,
the work from home trend has also been assisting in the growth of the
cloud-based human resource software as a service market.
IAM has a high potential to grow during the
forecast period and some of the significant product developments and
innovations are:
In 2018, Lufthansa Group introduced facial recognition-based one-step biometric boarding at Los Angeles International Airport. The airline claims that during the initial trial, Lufthansa boarded an A380 with about 350 passengers in just under 20 minutes.
Delta Air Lines, partnered with U.S. Customs and Border Protection, Transportation Security Administration and Hartsfield-Jackson Atlanta International Airport, to launch the first curb-to-gate biometric terminal in the U.S. at Atlanta’s Terminal F.
Major Market Players Operating 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.
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“Global Identity & Access
Management (IAM) market is expected to grow at a robust pace on account of
technological advancements. Factors such as the growing expenditure capacity of
consumers and rapid urbanization, globalization, and digitalization are making
the users aware of the advancements in technology which leads to a quality life,
and is expected to drive the demand for Identity & Access Management (IAM)
across the country over the next five years.”, said Mr. Karan Chechi, research
director with TechSci research, a research-based global management consulting
firm.
“Identity
& Access Management (IAM) Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Solution (Provisioning, Password
Management, Directory Service, Advanced Authentication, Single Sign-On (SSO),
Audit, Compliance and Governance), By Deployment (On-premises, and Cloud), By
Organization Size (SME, and Large Organization) By End Use Industry (BFSI, IT
& Telecom, Education, Retail, Healthcare, and Others) By Region, By
Competition”,
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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