According to a
report by Grand View Research, Inc.; the identity
and access management (IAM) market is estimated to attain a valuation
of around USD 24.55 billion by 2022. The market is predicted to grow at about
13.7% CAGR during the forecast period (2017 to 2022). Growing necessity for
advanced cyber security to safeguard important data and information in
enterprises owing to rising cases of cyber-crimes can fuel demand.
Growing adoption
of access management coupled with cost containment is anticipated to propel
growth of the market for identity and access management (IAM). Rising demand
for risk management in enterprises and governmental organizations can further spur
market growth. Stringent governmental compliances and increased spending by
large scale organizations is likely to stimulate growth of the market.
Increasing use of internet of things (IoT) and bring your own devices (BYOD)
can also foster market growth. Capabilities such as entitlement management and
logical access control are expected to impel market growth during the forecast
period.
Time-incentive
processes such as provisioning and manual approval are presumed to hinder
growth of the market in the coming years. In addition, growing necessity for
collaborations and information sharing across international borders can further
obstruct the growth of the market for identity and access management during
next few years.
Browse full research report on Identity and Access Management (IAM) Market: https://www.grandviewresearch.com/industry-analysis/identity-and-access-management-iam
Increasing focus
on R&D investments by leading organizations to offer high-end IAM solutions
that are easy to use and meet process requirements for organizations can create
lucrative opportunities. In addition, favorable government initiatives and investments
in cyber security can further propel demand.
The worldwide identity
and access management market can be segregated on the basis of deployment type,
application, and regions. Based on deployment type, the market can be divided
into hybrid, cloud, and on-premise. In 2016, on premise solutions dominated the
market with around 55.5% of overall revenue share. On the other hand, hybrid
model contributed for about 30.7% of revenue share. Cloud IAM segment is
expected to grow significantly over other deployment modules during the
forecast period. Benefits such as simplified management and low cost are
presumed to foster demand in the coming years.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/network-security-software-and-services
Based on
application, the IAM market can be classified as energy, banking, financial
services & insurance (BFSI), oil and gas, education, healthcare, telecom
& IT, public sector and utilities, and manufacturing. In 2016, utilities
and public sector dominated the market and accounted for nearly 25% of overall
revenue. However, BFSI contributed for 12.7% of overall revenue in the same
year. Increasing adoption of IAM solutions in BFSI sector to reduced IT
management costs, ensure compliance, and increase productivity can fuel demand.
Regional
segmentation includes Europe, North America, Asia Pacific, Latin America, and
MEA. In 2014, North America accounted for 37.7% of overall market. While in
2016, the region contributed for maximum revenue share owing to favorable
government regulations. The U.S. government has issued around 400 regulatory
policies related to cyber security. This is likely to impel market. Moreover,
several federal organizations in the U.S. are likely to allow their workers to
use hardware based personal identification verification card or another form of
strong identification while using government networks or IT infrastructure.Various
federal agencies such as transportation and veteran affairs and Department of Interior
are expected to implement tough identification measures that can propel demand
for advanced IAM solutions.
Asia Pacific
accounted for around 22.2% of overall identity and access management market in
2016. It is expected to grow at a remarkable rate in the forthcoming years
owing to increasing cases of cyber threats for important infrastructure. The MEA
region is anticipated to gain traction owing to its substantial growth over the
forecast period.
Some of the
leading companies offering identity and access management solutions are IBM,
Amazon Web services, CA Technologies, Dell Software, and Oracle. Increasing
adoption of mobile devices and cloud-based solutions and strict compliance
requirements owing to increasing cyber threats are expected to propel demand
for IAM solutions in IT companies. To cater to rising demand, most leading
companies are focusing on innovative solutions to support security needs and
business practices of consumers.
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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