Global Identity and Access Management Market Report 2022: Favorable Government Initiatives & Shift Towards Cloud-Based Solutions Fuels Growth

DUBLIN, Nov. 14, 2022 /PRNewswire/ -- The "Global Identity and Access Management Market: Analysis By Sub Category, Deployment Type, Solution, Enterprise Size, End User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global identity and access management market was valued at US$13.38 billion in 2021. The market value is projected to grow to US$29.43 billion by 2027.

The factors such as an increase in adoption of rising regulatory compliances and security concerns especially after COVID and an increase in demand for multifactor authentication in companies and organizations all around the globe are expected to drive the overall market growth in the forecasted period. The market is expected to grow at a CAGR of approx. 14% during the forecasted period of 2022-2027.

Market Segmentation Analysis:

• By Sub Category: The report provides the bifurcation of the market into four segments based on the sub-category: Access Management, User Authentication, Identity Governance and Administration (IGA), and Privileged Access Management (PAM).
• By Deployment Type: The report further provides the segmentation based on the deployment type: On-Premise and Cloud. The on-premise segment held the highest share of more than 55% in the market. On-premise IAM is the largest deployment type of identity and access management market.
• By Solution: The report gives a glimpse of the market based on solutions, namely, Provisioning, Single Sign On, Multifactor Authentication, Audit, Compliance and Governance, Password Management, and Directory Services. Audit, Compliance & Governance is the fastest growing segment as it facilitates compliance with regulatory requirements or internal security policies. Network and system administrators use directory services to onboard users, manage access privileges and monitor and control access to applications and infrastructure resources.
• By Enterprise Size: The market has also been assessed based on the enterprise size: Large Enterprises and SMEs. Large enterprises held the highest share of around 60% in the market as large enterprises have a lot of valuable and sensitive data which makes them targets for data theft and cyber threats.
• By End-User: The report provides an analysis of the market based on end-user: Public Sector & Utilities, Telecom & IT, BFSI, Manufacturing, Healthcare, Education, Energy, Oil & Gas, and Others. The telecom and IT segment is expected to be the highest-growing segment with a CAGR of approx. 16% in the forecasted period. Telecom and IT companies essentially work with a large user base that spans across national boundaries and these users use system for various transactions, and because of many possible cyber attacks and data breaches of the digital identities created, it becomes challenging for IT departments in telecom organizations to tackle security issues, so organizations demand IAM solutions to preserve company's reputation and business loss.
• By Region: The report provides insight into the identity and access management market based on the regions namely North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held a major share of around 36% in the market. Within North America, the US is leading the market owing to the increasing adoption of work-from-home culture, digitalization, and increasing applications of IAM in various end-use industries such as healthcare, BFSI, etc.

Market Dynamics:

Growth Driver

• Rising Information Technology (IT) Spending
• Shift towards Adoption of Cloud
• Increase in Data Thefts
• Digital Transformation
• Favorable Government Initiatives

Challenges

• Security Breach
• Lack Of Identity Standards And Budgetary Constraints

Market Trends

• Introduction of AI and Robotics
• Bring Your Own Device (BYOD) Policies
• Multifactor Authentication
• Zero Trust Security
• Blockchain

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID

6. Market Dynamics

7. Competitive Landscape

8. Company Profiles

Companies Mentioned

• International Business Machines Corporation (IBM)
• Broadcom Inc.
• ForgeRock, Inc.
• CyberArk Software Ltd. (CYBR)
• Okta Inc.
• Thales S.A.
• Hewlett Packard Enterprise Co. (HPE)
• Ping Identity Holding Corp. (Ping Identity Corporation)
• Oracle Corporation
• Cisco Systems Inc.
• Microsoft Corporation
• Amazon.com, Inc. (Amazon Web Services, Inc.)
• Avatier Corporation
• Core Security Technologies Inc.
• Fisher International Systems Corporation (Fisher International Identity, LLC)

For more information about this report visit https://www.researchandmarkets.com/r/ynhy8u

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SOURCE Research and Markets