Global Identity Access Management Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 114.50 Million |
 Market Size (Forecast Year) |
USD 287.40 Million |
 CAGR |
% |
| Major Markets Players |
|
Global Identity and Access Management Market, By Deployment Type (Cloud, On-Premise), Enterprise Size (Small And Medium Enterprises (SMEs), Large Enterprises), Component (Solution, Service) - Industry Trends and Forecast to 2031.
Identity and Access Management Market Analysis and Size
The increase in the need for compliance management, reduction of risk, and prevention of advanced insider threats in the BFSI sector drive the market. In addition, the growth in demand for mobility solutions as well as the rise in security concerns among the BFSI sector propels the growth of the market. Furthermore, the increase in the adoption of cloud and SaaS applications in the BFSI sector, the emergence of the hybrid cloud model, and the expansion of the banking sector in emerging economies is expected to provide numerous opportunities for the market.
Data Bridge Market Research analyzes that the global identity and access management market which was USD 114.5 million in 2023, would rocket up to USD 287.4 million by 2031, and is expected to undergo a CAGR of 3.10% during the forecast period of 2024-2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2023 to 2031 |
|
Base Year |
2022 |
|
Historic Years |
2021 (Customizable from 2016-2021) |
|
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
|
Segments Covered |
By Deployment Type (Cloud, On-Premise), Enterprise Size (Small And Medium Enterprises (SMEs), Large Enterprises), Component (Solution, Service) |
|
Countries Covered |
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa |
|
Market Players Covered |
IBM Corporation (U.S.), Oracle Corporation (U.S.), Hitachi ID Systems, Inc. (U.S.), Dell Technologies (U.S.), CA Technologies (U.S.), Micro Focus (U.K), Bitium, Inc. (U.S.), Okta, Inc. (U.S.), Centrify Corporation (U.S.), Core Security SDI Corporation (U.S.) |
|
Market Opportunities |
|
Market Definition
An identity and access management (IAM) system in BFSI is a framework for business processes, which facilitates the management of electronic identities. This framework includes the technology, which supports identity and access management. IAM technology can be used to capture, initiate, record, and manage user identities and their access permissions through automation. This ensures that all individuals and services are properly authorized, authenticated, and audited.
Global Identity and Access Management Market Dynamics
Drivers
- Increasing Cybersecurity Concerns
The rising frequency and sophistication of cyber threats have become a significant driver for the Identity and Access Management (IAM) market. Organizations are increasingly adopting IAM solutions to safeguard sensitive data, prevent unauthorized access, and mitigate the risk of data breaches. The growing awareness of cybersecurity threats is propelling the demand for robust IAM solutions that offer enhanced security measures.
- Regulatory Compliance Requirements
The stringent regulatory landscape around data protection and privacy is a key driver for the IAM market. Regulations such as GDPR, HIPAA, and others necessitate organizations to implement robust identity and access management solutions to ensure compliance. IAM solutions help organizations enforce access controls, manage user identities, and maintain audit trails, assisting them in meeting regulatory requirements and avoiding potential legal consequences.
Restraints
- Complex Implementation Processes
One of the primary challenges facing the IAM market is the complexity associated with the implementation of these solutions. Integrating IAM systems into existing infrastructure can be intricate and time-consuming. Organizations often encounter challenges in aligning IAM solutions with their diverse IT environments, leading to delays and resource-intensive deployment processes.
- User Resistance and Adoption Challenges
User resistance and reluctance to adopt new IAM technologies can impede the successful implementation of these solutions. Employees may find new authentication processes cumbersome or disruptive to their workflow. Organizations need to invest in comprehensive training programs and change management strategies to overcome resistance and ensure smooth integration of IAM solutions into daily operations.
Opportunities
- Rapid Growth in Cloud Computing
The increasing adoption of cloud services presents a significant opportunity for the IAM market. As organizations migrate their operations to the cloud, the demand for cloud-based IAM solutions is on the rise. Cloud-based IAM offers scalability, flexibility, and centralized management, making it an attractive option for businesses looking to secure their digital assets in a dynamic and distributed computing environment.
- Integration with Emerging Technologies
The integration of IAM with emerging technologies such as artificial intelligence (AI) and machine learning (ML) opens up new opportunities. Advanced analytics can enhance identity verification processes, detect unusual user behavior, and automate threat response. By embracing these technologies, IAM solutions can evolve to offer more intelligent, adaptive, and proactive security measures.
Challenges
- Security Concerns and Vulnerabilities
Despite being a security solution, IAM systems are not immune to security threats. The IAM market faces challenges related to the potential exploitation of vulnerabilities in authentication processes, identity theft, and sophisticated cyber attacks. Continuous efforts to stay ahead of evolving threats through regular updates, patches, and proactive security measures are crucial to address these challenges.
Recent Developments
- In April 2023, Saviynt Partnered with World’s Leading Technology and Consulting Firms, which includes IBM to Launch Saviynt Solution Exchange. It is a Marketplace of Pre-Built Solutions that Accelerate and Optimize Organizations’ Journey to Cloud Identity Security
- In March 2023, CyberArk launched enhancements to its Workforce Password Management. The new capabilities include securing access to high-risk, high-value business applications to help organizations improve security and reduce risk
- In November 2022, Okta launched Okta Workforce Identity Cloud Innovations to Power Enterprise Security, Productivity, and Agility. This new solution will strengthen single control plane for managing identity across all enterprise resources and users.
- In August 2022, ForgeRock announced a strategic partnership with Secret Double Octopus (SDO). This partnership will extend password less and Multi-factor Authentication capabilities of ForgeRock to enterprise workstations and infrastructure
- In February 2022, Ping Identity launched new service, PingOne DaVinci. It is a new no-code identity orchestration service that enables organizations to integrate and orchestrate identity services from a wide range of vendors
Global Identity and Access Management Market Scope
The identity and access management market in BFSI is segmented on the basis of deployment type, end user, and size. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Deployment Type
- Cloud
- On-premise
Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Component
- Solution
- Service
Global Identity and Access Management Market Region Analysis/Insights
The global identity and access management market is analyzed and market size insights and trends are provided by country, deployment type, end user, and size as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, the rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and rest of the Middle East and Africa.
Asia Pacific is expected to dominate the market due to the rapid digital transformation, increasing cyber threats, and stringent regulatory requirements.
North America is expected to be the fastest-growing region in the due to its most advanced infrastructure and growing cybersecurity.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Identity and Access Management Market Share Analysis
The global identity and access management market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the identity and access management market.
Some of the major players operating in the global identity and access management market are:
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- Hitachi ID Systems, Inc. (U.S.)
- Dell Technologies (U.S.)
- CA Technologies (U.S.)
- Micro Focus (U.K.)
- Bitium, Inc. (U.S.)
- Okta, Inc. (U.S.)
- Centrify Corporation (U.S.)
- Core Security SDI Corporation (U.S.)
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
