Identity and Access Management (IAM) Market to Witness Revenue Surge Reaching $24 Billion Till 2022 | Million Insights

FELTON, California, June 4, 2018 /PRNewswire/ --

The global Identity And Access Management Market is expected to worth USD 24.55 billion by 2022. Growing demand for cloud architecture and improved network capabilities are anticipated to propel the demand across enterprises. These solutions are widely adopted by large and medium scale industries as well as by government agencies.

Companies functioning across cloud platforms offer comprehensive on-demand development tools such as cloud infrastructure and cl    oud database layer, which empower enterprise IT groups to develop, test, and deliver customer demanded business applications without investing in conventional system infrastructure.

Over the past recent years, cloud computing, mobile technology social networking, BYOD policies, and other IT and consumer trends have transformed the threat environment. To survive and thrive in this increasingly interconnected and virtual ecosystem, organizations must recognize identity and access management as essential to the secure transfer of information that lies at the heart of commerce. IAM involves trade-offs in terms of cost, risk, convenience, and other user freedoms.

Insufficient identity assurance for cloud application & services and lack of trust in cloud service providers is anticipated to hamper the growth of the market. Major gap between the cloud service providers and service consumer owing to lack of awareness regarding cloud computing solutions is expected to cause vulnerability concerns. However, the rise in global spending of large-scale organizations and government on integrating the management of identities with security identity services and solutions is anticipated to lessen the impact over the forecast period. As identity and access management continues to progress over the forecast period, enterprises are expected to look for larger and more innovative solutions, which are adaptable to trends such as mobile and cloud computing.

Browse 152 page research report with TOC on "Global Identity And Access Management (IAM) Market" at: https://www.millioninsights.com/industry-reports/identity-access-management-iam-market  

IAM services and solutions are growing into a risk-based program, with their abilities focused on entitlement management and enforcement of logical access control. Enterprises have started attaining benefits from their prices, but face major challenges to manage time-incentive practices such as manual provisioning and approval.

The market can be categorized by deployment into on-premise, hybrid and cloud IAM. On-premise identity and access management market accounted for a majority share in 2014 and is anticipated to lose substantial share over the forecast period. On-premise infrastructure uses conventional in-house data centers that entirely controls software updates and security patches. However, security breaches owing to unauthorized physical access cannot be spotted by this technology. Alternatively, cloud hosting companies safeguard customers and alert them instantly which would positively favor demand for hybrid and cloud solutions. Applications sectors in the IAM market include oil &gas, telecom & IT, public sector, utilities, BFSI, energy healthcare, and manufacturing. BFSI sector companies have to adopt cyber security solutions to monitor, detect, report, and counter the cyber threats for keeping the privacy of information and to increase productivity.

Several stringent government regulations and regulatory reforms are causing organizations and enterprises to address their internal control infrastructure. For instance, according to Health Insurance Portability and Accountability Act of 1996 (HIPAA), it is mandatory for healthcare organizations to safeguard the portability of healthcare coverage and the confidentiality of patient records. It involves organizations to train staffs to efficiently follow secrecy measures, designate an individual in the organization in-charge of HIPAA compliance and implementation, and undertake significant measures for regulating the disclosure of patient information such as secure electronic access to patient records.

Geographically the global market for identity and access management is segmented into North America, Asia-Pacific, Middle East and Asia, Europe and Latin America. Europe and North America are expected to contribute substantially to the global market share owing to the favorable regulatory scenario. The U.S. government has issued over 400 regulatory policies associated to cyber security, which is expected to fuel the market for IAM across the region.

Asia-Pacific identity and access management market are expected to grow at a higher rate owing to the large deployment of IAM services & solutions and an increasing number of cyber threats on cloud architecture. The Middle East & Africa is also expected to gain traction with substantial growth over the forecast period.

The key market players dominating the global market for identity and access management includes IBM, HP, EMC Corporation, HID Global Corporation, Dell Software, ForgeRock Inc., Net IQ, Oracle, Centrify, OneLogin, CA Technologies, Amazon Web Services.

Enhancing security of critical data, ease of mobility, smooth authentication &authorization, and scalability are a few of the key strategies adopted by industry leaders in order to connect with the cloud-based environment. Industry participants are investing in R&D to develop new technologies for improving the network-based security. Strategic acquisitions and partnerships are being adopted for business expansion.

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IAM Deployment Outlook (Revenue, USD Million, 2012 - 2022) 

       • Cloud

        • Hybrid

        • On-Premise

IAM End-Use Outlook (Revenue, USD Million, 2012 - 2022) 

        • BFSI

        • Energy, Oil & Gas

        • Telecom & IT

        • Education

        • Healthcare

        • Public Sector & Utilities

        • Manufacturing

        • Others

IAM Regional Outlook (Revenue, USD Million, 2012 - 2022) 

        • North America

        • Europe

        • Asia Pacific

        • Latin America

        • MEA

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