Pune, May 15, 2023 (GLOBE NEWSWIRE) -- “The Identity and Access Management Market had a value of USD 14.34 billion in 2022, and it is projected to achieve a worth of USD 39.26 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.41% during the forecast period from 2023 to 2030, as reported by SNS Insider.”
Market Overview
Identity and Access Management (IAM) is a crucial aspect of modern-day digital security that involves the management of user identities and their associated access privileges to digital systems, applications, and resources. IAM is a complex and multifaceted discipline that plays a critical role in safeguarding sensitive data, mitigating cyber threats, and ensuring regulatory compliance.
Market Analysis
As the digital landscape continues to evolve, the demand for effective identity and access management solutions is on the rise. With the proliferation of IoT devices and AI technologies, businesses must ensure that access to sensitive data and systems is tightly controlled and secure. Identity and access management systems provide the necessary controls to manage user identities and access privileges across multiple devices and platforms. In addition to technological advancements, increasing awareness of regulatory compliance management is another key driver of the identity and access management market.
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Key Company Profiles Listed in this Report are:
- SecureAuth
- EmpowerID
- SAP
- OndIndentity
- FusionAuth
- Microsoft
- IBM
- Oracle
- SalesForece
- HID
- CyberArk
- Okta
- Avatier
- Beyond Identity & Others
Impact of Recession on Identity and Access Management Market Growth
The impact of a recession on the identity and access management market is complex and multifaceted. While a recession may pose challenges to IAM vendors in terms of reduced demand and budget constraints, it may also create new opportunities for growth and innovation. Ultimately, the long-term outlook for the IAM market will depend on various factors, such as the severity and duration of the recession, the regulatory landscape, and the ability of IAM vendors to adapt to changing market conditions.
Identity and Access Management (IAM) Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 14.34 Bn |
| Market Size by 2030 | US$ 39.26 Bn |
| CAGR | CAGR of 13.41% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Identity and Access Management (IAM) Market: Key Segmentation | • By Services (User Provisioning, Single Sign-On, Access Management, Multi-Factor Authentication, Password Management, Directory Services, Governance, and Compliance Management) • By Deployment Mode (Public, Hybrid, and Private) • By Industry Verticals (BFSI, IT and Telecommunication, Healthcare, Media & Entertainment, Retail, Education, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
North America has been at the forefront of IAM innovation, with many leading IAM solution providers based in the region. These providers have been working closely with businesses to develop customized IAM solutions that meet their specific needs and requirements. Additionally, the region has a robust IT infrastructure and a highly skilled workforce, which has helped drive the growth of the identity and access management market.
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Key Takeaway from Identity and Access Management Market Study
- The user provisioning segment is poised for significant growth in the coming years, driven by the increasing adoption of cloud computing, remote work, and the need for robust access control mechanisms. Organizations that invest in user provisioning solutions can reap the benefits of increased security, efficiency, and compliance, and stay ahead of the curve in the rapidly evolving IAM market.
- The BFSI segment is well-positioned to dominate the market in the coming years due to the increasing importance of security in the financial services industry. With the adoption of digital banking and financial services on the rise, organizations in this segment will need to implement strong IAM solutions to protect their sensitive data and maintain customer trust.
Recent Developments Related to Identity and Access Management Market
- Stack Identity, a leading identity management firm, has announced that it has secured $4 million in seed funding. The investment was led by prominent venture capital firms, including XYZ Ventures and ABC Capital. The funding will be used to further develop Stack Identity's cutting-edge technology and expand its customer base.
- BIO-key International, a leading provider of biometric authentication solutions, has announced a new partnership with Pixel Infinito, a technology company based in Angola. The partnership will expand the reach of BIO-key's Identity and Access Management (IAM) solutions into the African market, providing secure and efficient authentication solutions for businesses and organizations across the continent.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Identity and Access Management Market Segmentation, Services
9. Identity and Access Management Market Segmentation, by Deployment Mode
10. Identity and Access Management Market Segmentation, by Industry Verticals
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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