BANGALORE, India, Nov. 11, 2020 /PRNewswire/ -- A new Identity and Access Management (IAM) Market Research Report published on Valuates Reports in Software Category. The report contains segmentation Based on Type (Cloud, Hybrid, On-Premise), Based on Application (Healthcare, Telecommunication, BFSI, Media & Entertainment, Travel & Hospitality). It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2026.
The global Identity and Access Management market size is projected to reach US$ 16500 million by 2026, from US$ 9073.9 million in 2020, at a CAGR of 10.5% during the forecast period 2021-2026.
Major factors driving the growth of IAM Market size are a rise in awareness about compliance management across various industries, the proliferation of Bring Your Own Devices (BYOD), an increase in security concerns among organizations and the demand for mobility solutions.
The report provides an in-depth analysis of the IAM market to identify lucrative investment pockets in the market. The IAM market report identifies key drivers, opportunities and restraints that shape the market and provide an impact analysis of these factors over the forecast period.
The increasing need for IAM for IoT is expected to increase the Identity and Access Management market size. IAM offers many advantages in IoT to provide users with a safe environment, such as how a user can handle access to all connected things, the information they carry and how they can monitor what people or devices are able to do. IAM solutions, therefore, allow SMEs and large companies to offer reliable, frictionless and enhanced user experience.
Healthcare vertical is increasingly deploying cutting-edge technology to deliver enhanced, intuitive, and personalized treatment and experience for patients. IAM solutions help healthcare organizations resolve the security concerns linked to users' identities and help them provide their patients with an enhanced experience. The growing implementation of IAM in the healthcare industry is expected to increase the growth of the Identity and Access Management market size.
Increasing awareness of regulatory compliance is expected to fuel the IAM market size. Companies are introducing identity and access management solutions to control and prevent cybercrime, ensuring that the right people get access to the right things. To meet various compliance standards, identity and access management tools can be used. The IAM solution eases the compliance burden and provides the enterprise with a highly protected environment.
North America is expected to hold the largest IAM market share. This dominance of North America is attributed to the favorable regulatory scenario. Several U.S. federal agencies have incorporated strict authentication criteria for their workers for accessing government IT infrastructure and networks, such as hardware-based personal identity verification cards.
Due to IAM solutions' high deployment and rising cyber threats to critical infrastructure, Asia Pacific is likely to witness the highest growth during the forecast period. The versatile economic conditions, industrialization-motivated policies, and increasing digitalization are expected to have a major impact on the APAC business environment and there benefit companies operating in the IAM market.
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SIMILAR REPORTS :
Physical Identity and Access Management Market - The Global Physical Identity & Access Management Market is expected to grow from USD 362.80 Million in 2019 to USD 946.25 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 17.32%.
North America is expected to hold the largest market, Physical Identity and Access Management share based on the region. North America's dominance is attributed to the strategic investments, partnerships, and significant Research and Development (R&D) activities in the region. U.S and Canada are the major countries contributing to the PIAM market size in the North American region.
The major factor driving the growth of Consumer IAM Market size is, increasing venture capital funding and growing investments in consumer identity and access management technology.
This report provides information on the drivers, restraints, and opportunities, along with their impact analysis, to offer insights on the potential market opportunities to make informed business decisions.
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