Identity & Access Management (IAM) Market to Register an Exceptional CAGR through 2028
Rising demand for identity
protection solutions is a significant factor driving the growth of the India Identity
& Access Management (IAM) market in the forecast period of 2024-2028.
According to TechSci research
report, “India Identity &
Access Management (IAM) Market- By Region, Competition Forecast &
Opportunities, 2018-2028,” the India Identity & Access Management (IAM) Market
is projected to expand in the coming years. A wide range of business
benefits from digitization can be seen, and in the past ten years, modern
working conditions have changed significantly. The growth of the millennial
workforce is largely to blame for the more adaptable, digital working habits
and communications than ever before. Furthermore, the traditional office space
has given way to digital collaborative working platforms. There is a growing
need for access control and security systems and products that are increasingly
sophisticated. As a result, Identity & Access Management (IAM) is essential
in physically and digitally empowering workplaces.
The India identity and access
management market is expected to grow at a rapid pace during the forecast
period, owing to the increasing need for compliance management, risk reduction,
and the prevention of advanced insider threats in the BFSI sector. The demand
for identity and access management is also being driven by rising risks of data
exposure, loss, leakage, and insider attacks as well as by unsecure usage.
These cyber-attacks are being fueled primarily by the increasing adoption of
emerging technologies such as cloud-based services, the Internet of Things
(IoT), and Bring Your Own Devices (BYOD) across organizations around the world.
Furthermore, the growing trend of mobility is fueling demand for IAM solutions
in a variety of industries.
Indian consumers are adopting
5G smartphones in greater numbers. Smartphone shipments reached 169 million
in 2021. Indian consumers are increasingly adopting 5G smartphones even before
the country's next-generation mobile broadband technology is available. Smartphone
shipments exceeded 150 million units in 2020, with 5G smartphone shipments
exceeding 4 million due to high consumer demand following the lockdown imposed
due to COVID-19.
Browse
over XX market data figures spread through 70 pages and an in-depth to on
"India Identity and Access Management Market"
The India identity &
access management (IAM) market is segmented based on solution, deployment, organization
type, end user, company, and region.
Some of the
main factors driving the demand for IAM include young population, rising
internet and smartphone use, and relatively stronger economic performance.
According to India Brand Equity Foundation, the number of internet connections
in 2021 increased significantly to 830 million, driven by the ‘Digital India’
programme. Out of the total internet connections, approximately 55% of
connections were in urban areas, of which 97% of connections were
wireless.
According to
Invest India, E-commerce has reached USD 55 Billion in Gross Merchandise Value
in 2021 and further, as of 2021, more than 348 Million users were
conducting online transactions, and nearly 140 Million were shopping online.
Tier 2 cities and smaller towns account for more than 60% of transactions and
orders in India. The e-commerce trend is gaining traction even in tier-2 and
tier-3 cities, which now account for nearly half of all shoppers and three out
of every five orders placed on leading e-commerce platforms. This increase in
online payment and transaction lead to the increase in the IAM market.
The market is segmented
into on-premises and cloud based on deployment. Both cloud and on-premises
deployment 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, have 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. cloud-based solutions are
increasing dependance on cloud-based services as it has benefits such as lower
cost and easy scalability. Additionally, the work from home trend has also been
assisting in the growth of the IAM market.
IAM has a high potential to grow in the
upcoming years due to some of the significant product developments and
innovations.
- Thales Group acquired OneWelcome for USD
106 million, a CIAM company, in July 2022. Thales has improved its identity
services as well as its overall cybersecurity solution portfolio because of the
acquisition.
Major market players
operating in the India Identity & Access Management (IAM) market are:
- Zyclyx
- Microsoft Corporation
(India) Pvt Ltd
- Salesforce.Com India
Private Limited
- Embee
- Oracle India Private
Limited
- Hitachi India Private
Limited
- SAP India Private
Limited
- Thales India Private
Limited
- Broadcom International Private
Ltd
- IBM India Private
Limited
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“India Identity & Access
Management (IAM) market is expected to grow at a robust pace on account of
technological advancements. Factors like the growing expenditure capacity of
consumers and rapid urbanization, globalization, and digitalization are making
the users aware of the advancements in technology and, are anticipated to
propel 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 India management consulting firm.
“India
Identity & Access Management (IAM) Market 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 type (SME, and Large Organization) By
End Use Industry (BFSI, IT & Telecom, Education, Retail, Healthcare, and
Others) By Region, By Competition, Forecast
& Opportunity”,
has evaluated the future growth potential of India 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 India Identity
& Access Management (IAM) market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com