Chicago, June 29, 2023 (GLOBE NEWSWIRE) -- The global Role-Based Access Control Market size is expected to grow to USD 15.5 billion by 2027 from USD 8.7 billion in 2022 at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period, according to a new report by MarketsandMarkets™. The increase in data breaches is driving the demand for centralized security solutions and rising number of smart and connected devices is expected to drive the demand of role-based access control market.
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234 - Tables
49 - Figures
218 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2018–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD Million/Billion) |
| Segments covered | Component, Model Type, Organization Size, Vertical, and Region |
| Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | Microsoft (US), AWS (US), SolarWinds (US), IBM (US), ManageEngine (US), Oracle (US), JumpCloud (US), Okta (US), ForgeRock (US) and Ping Identity (US), BeyondTrust (US), SailPoint(US), CyberArk (US), Broadcom (US), SecureAuth(US), Varonis (US), Edgile (US), Imprivata (US), Bravura Security (Canada), Frontegg (US), Ekran System (US), Tenfold (Austria), Delinea (US), Automox (US), HostBooks (US), EmpowerID (US), FusionAuth (US), StronDM (US), and One Identity (US). |
Based on component, the solutions segment to hold the largest market size in 2022
Role-based access control solutions are crucial to improve cybersecurity and ensure compliance adherence. An automated role-based access control system has structured templates for user access controls, which ensures audit compliance. At any point, any user with an active role is provided the least number of privileges to complete a task. In addition, role-based authentication also helps provide access to a specific set of resources to user groups. Role-based access control solutions make it easier to set varied access control for different groups for the same set of resources used in a project.
Based on verticals, BFSI vertical to hold the largest market share in 2022
Cybercriminals are leveraging privileged credentials to infiltrate financial infrastructure and access credit card information, bank statements, personal identifiable information, and other financial data. A recent report by Accenture and the Ponemon Institute states that the cost of cyberattacks is higher in financial services than any other industry with losses reaching USD 18.3 million annually per company. Managed privileged access to servers, databases, and applications is used in the finance sector. Instead of risky standing access, role-based access management solutions can enable users with granular, just-in-time access, so they have exactly what they need to do their jobs, at the right time. All major compliance bodies that impact financial organizations agree that protecting privileged credentials and access is essential to protecting sensitive data and business continuity. Vendors offering role-based access control systems are compliant with various regulations, such as PCI-DSS for credit card payments, SOX to prevent insider fraud, NCUA for credit unions, and FISMA/NIST for risk management.
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Europe to hold second largest market share of the role-based access control market in 2022
Europe holds the second-largest share of the role-based access control market. Europe comprises the UK, Germany, France, and the rest of Europe. With the increased usage of mobile applications and the internet, there is the need for an effective cybersecurity framework to manage unauthorized access has intensified significantly. The European Commission is focusing on developing policies related to the cloud and developed user monitoring and identity management projects, such as Privacy and Identity Management for Europe (PRIME) and the Future of Identity in the Information Society (FIDIS) Network of Excellence. The region also focuses on establishing agencies and organizations, such as the European Union Agency for Network and Information Security (ENISA), the European Computer Emergency Response Team (CERT-EU), and Network and Information Security (NIS) to support the growth of the private sector in the region.
Top Trends in Global Role-based Access Control Market
- Organisations started moving their IT infrastructure to the cloud as cloud computing became more and more popular. Due to this, there has been an increase in demand for cloud-based RBAC solutions that offer safe access control in distributed contexts.
- To establish a comprehensive and centralised approach to access control, RBAC solutions were being connected with IAM systems. Organisations were able to handle user identities, roles, and permissions more effectively and systematically because to this connectivity.
- PAM developed became a crucial component of RBAC, particularly in the context of safeguarding sensitive information and preventing unauthorised access to vital systems. PAM features were being included into RBAC solutions to implement greater controls over privileged accounts and guarantee regulatory compliance.
- Advanced analytics and artificial intelligence (AI) technologies were being used by RBAC solutions to improve access control capabilities. In order to spot unusual user behaviour, recognise potential security risks, and automate user provisioning and role assignments, machine learning techniques were used.
- Because of their particular regulatory requirements and operational needs, various industries have different access control requirements. RBAC solutions designed for certain industries, including healthcare, banking, or government, were gaining popularity to successfully solve industry-specific access control issues.
Key Industry Development
- The relevance of RBAC in protecting sensitive patient data and adhering to regulatory obligations was becoming clear to the healthcare sector. To control access to electronic health records (EHRs) and provide correct authorisation for medical practitioners, RBAC solutions were frequently used in healthcare organisations.
- The financial services industry had to adhere to strict regulatory standards for privacy and data protection. In order to enforce access controls, reduce the risk of unauthorised access, and guarantee compliance with laws like the Sarbanes-Oxley Act (SOX) and the Payment Card market Data Security Standard (PCI DSS), RBAC solutions were becoming more and more in demand in this market.
- Governments all around the world realised the importance of having strong access control methods to safeguard citizen data, sensitive information, and key infrastructure. Government organisations and agencies were using RBAC systems to effectively manage user access, roles, and permissions, improving security and data protection.
- RBAC solutions were being linked with cloud environments and cloud-based identity and access management (IAM) systems as businesses adopted cloud computing. Organisations were able to reliably enforce access control policies across hybrid and multi-cloud systems because to this connection.
- RBAC solutions were developing to improve usability and user experience. RBAC suppliers are increasingly focusing on creating user-friendly interfaces, self-service capabilities for role administration, and streamlined access request workflows to make it simpler for businesses to adopt and manage access control successfully.
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