Global Identity and Access Management (IAM) Market Size, Trends & Growth Opportunity and By Component (Solution and Services), By Solution (Data Directory, Identity Lifecycle Management, Provisioning, De-provisioning, Authentication, Verification, Password Management, Self-Service Password Reset, Password Reset, Password Synchronization, Access Management and Authorization, Audit, Compliance, and Governance), By Service (Integration and Deployment, Support and Maintenance, and Consulting), By Region and Forecast till 2027.
Global Identity and Access Management (IAM) Market
The Global Identity and Access Management (IAM) Market is expected to grow from US$ 12.85 Billion in 2021 to US$ 27.06 Billion by 2027; it is estimated to grow at a CAGR of 13.22% from 2021 to 2027.
Organizations use the security architecture known as "identity and access management" (IAM) more frequently to control access to company resources and data as well as digital identities. The market will be fueled by developments in IoT and artificial intelligence, rising regulatory compliance management awareness, increasing reliance on digital platforms and automation, and expanding cloud technology use across sectors over the projected period.
Drivers: The IAM market has clearly expanded here. This market has been extremely helpful in managing access to company data across all industries, including sensitive and non-sensitive data, and in identifying individuals. It provides significant data protection where there are market opportunities for identification and access management. The information provided here is used for mobility solutions, which throughout this time period drive growth opportunities for identity and access management.
Restraints: Technology development turned into a difficult issue for the IAM sector. The fraudsters exploited this privilege, hacked the system, and proceeded to the company's records. The industry started to be threatened by this. The creation of ATPs and tailored threats is still another difficult element. Cybercriminals are stealing data using these newest approaches, which is quite problematic for the market. During the identity and access management market prediction, completing the access resources along with the organization's removal from systems in a significant amount of time becomes a major challenging issue.
Opportunities: Due to the manageability and affordability of these solutions, as well as the rising usage of these solutions by SMEs, the demand for cloud-based IAM solutions, such as cloud identity as a service (IDaaS), is anticipated to expand quickly in the future years. Additionally, these solutions take less time and less money to deploy. Additionally, the hybrid deployment strategy supports end users in choosing various technologies that may be used both on-premises and in the cloud. It can therefore influence the market in the upcoming years.
Impact of Covid-19
The COVID outbreak has had an impact on a number of business sectors, including access businesses and individuals. Since then, internet services have become increasingly important. Because of this, the population now depends on the expansion of the identity and access management business. Because of this, the populace now depends more on business. Access management software has a significant impact on the growth of the identity and access management sector during this epidemic. IAM industry vendors have come out to provide assistance and support.
Segmentation By Component: Identity and Access Management (IAM) Market is classified on the basis of Component into Solution and Services.
Segmentation By Solution: Identity and Access Management (IAM) Market is classified on the basis of Solution into Data Directory, Identity Lifecycle Management, Provisioning, De-provisioning, Authentication, Verification, Password Management, Self-Service Password Reset, Password Reset, Password Synchronization, Access Management and Authorization, Audit, Compliance, and Governance.
Segmentation By Service: Identity and Access Management (IAM) Market is classified on the basis of Service into Integration and Deployment, Support and Maintenance, and Consulting.
Segmentation By Region: Identity and Access Management (IAM) Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. With a market share of more than 40% in terms of sales, North America dominated the industry. Regarding the uptake of cyber technology and its infrastructure, North America is regarded as the most developed region. Cybersecurity is seen as a critical economic and national security concern in North America due to the rising incidence of security threats and data breaches in this region.
Competitive Landscape: The key players of Identity and Access Management (IAM) Market are Microsoft (US), IBM (US), Oracle (US), Broadcom (US), Salesforce (US), Ping Identity (US), Okta (US), HID Global (US), ForgeRock (US), CyberArk (US), RSA Security (US), Avatier (US), ManageEngine (US), and SecureAuth (US).
In March 2022, Microsoft purchased Nuance in order to help businesses in a variety of sectors achieve their objectives faster by combining conversational AI and ambient intelligence with Microsoft's dependable commercial cloud services.
Ping Identity unveiled PingOne DaVinci in February 2022, a brand-new no-code identity orchestration tool that lets businesses to combine and coordinate identity services from several providers.
Identity Lifecycle Management
Self-Service Password Reset
Access Management and Authorization
Integration and Deployment
Support and Maintenance
Middle East & Africa
Key Questions Addressed by the Report
What are the Key Opportunities in Identity and Access Management (IAM) Market?
What will be the growth rate from 2021 to 2027.
Which segment/region will have highest growth?
What are the factors that will impact/drive the Market?
What is the competitive Landscape in the Industry?
What is the role of key players in the value chain?
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