Identity And Access Management Market Will Help Toi Secure the Digital World

  

Identity And Access Management Industry Overview

 

The global identity and access management market size was valued at USD 15.93 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. Identity and access management (IAM) assures that the appropriate person and job position (identities) in an organization have access to the tools they need to perform their duties. Identity management and access systems allow companies to administer employee apps without logging in as an administrator to each app.

 

Advances in the internet of things (IoT) and artificial intelligence (AI), rising awareness about regulatory compliance management, increasing reliance on digital platforms & automation, and growing adoption of cloud technologies across industries are estimated to drive the market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Identity And Access Management Market

 

The rising cases of fraudulent and cybercrime activities are driving organizations to implement IAM systems as a result of the rapid adoption of the cloud and the advancement of new technologies. IAM uses identity analytics and intelligence to monitor unusual user account activity. In addition, it allows for the deletion of inactive accounts, the detection of policy violations, and the removal of inappropriate access privileges. Hence, the rising enterprise identity and security concerns drive the growth of the industry. Moreover, lower production costs make application administration effortless; the centralizing process time for connectivity and identity modifications increases user reliability, provides easier access to sign-in, signup, and user management processes for application holders, and implements procedures and policies related to user verification and prerogatives.

Furthermore, the integration of the IAM solution and mobile device Management (MDM) may utilize IAM more efficiently and enable the organization’s security and control. MDM is a critical component of IAM as it allows one to control apps and users on the device. Because IAM can be used on multiple devices, extending IAM to mobile devices is a must for any business. MDM is an essential component of IAM as it provides security and the ability to provision apps to devices. MDM collaborates with IAM to help protect each device and, as a result, create security for the user. Both IAM and MDM are critical to each other. MDM allows businesses to easily use identity and access management, while also providing control and security.

Businesses that choose this system will benefit, but they must be aware that to avoid vulnerable points, biometric solutions must be compatible with any smartphone. However, failure to store data, such as personal information and authentication credentials, may result in data breaches and digital identity fraud. Enterprise bring-your-own-device (BYOD) policies have made IAM systems more complicated. Furthermore, the high installation costs of these systems are expected to stifle the growth of the industry over the forecast period. The industry is adopting the latest IAM business technologies as capital technology. These technologies have increased market opportunities for IAM, which have been purchased and implemented in recent years.

IAM contracts' market revenue necessitates extensive implementation. Hence, cloud-based IAM services and technologies are becoming more accessible. These factors are estimated to create lucrative growth opportunities in the global market. The COVID-19 outbreak impacted several business sectors, including the access industry and individuals. Since COVID-19, internet services have played a significant role. Internet services made the population reliant on the growth of the IAM market. During the pandemic, access management software had a critical role in the growth of the overall industry.

Browse through Grand View Research's Category Network Security Industry Research Reports.

 

• Increasing need for information security in today’s internet world is expected to be a key driver for the enterprise firewall market. Enterprise firewall solutions are essential to protect organizations from potential cyber threats. These solutions are continuously evolving over the years to conquer past deficiencies and challenges. Critical information travels through communication networks of organizations and firewall solutions guard it against external and internal threats.

• The global defense cyber security market is expected to witness significant growth over the forecast period. The present cyber security industry comprises a varied number of solutions including endpoint security to network security, content security, application security, wireless security, and cloud security solutions. All these solutions can be incorporated together to form a tough defense mechanism against complicated threats.

Identity And Access Management Market Segmentation

 

Grand View Research has segmented the global identity and access management market on the basis of component, deployment, end-use, and region:

 

IAM Component Outlook (Revenue, USD Million, 2018 - 2030)

• Audit, Compliance & Governance
• Directory Service
• Multifactor Authentication
• Provisioning
• Password Management
• Single Sign-On

 

IAM Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• Hybrid
• On-premise

 

IAM End-use Outlook (Revenue, USD Million, 2018 - 2030)

 

• BFSI
• Energy, Oil & Gas
• Telecom & IT
• Education
• Healthcare
• Public Sector & Utilities
• Manufacturing
• Others

 

IAM Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa

 

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Key Companies profiled:

 

• Amazon Web Services, Inc.
• Broadcom
• One Identity LLC.
• ForgeRock
• HID Global Corp.
• IBM
• McAfee, LLC
• Microsoft
• Okta
• OneLogin
• Oracle
• Ping Identity
• SecureAuth
• Evidian
• Intel Corp.