Chicago, July 23, 2024 (GLOBE NEWSWIRE) -- The global Identity Security Posture Management (ISPM) Market size is projected to grow from USD 13.7 billion in 2024 to USD 33.1 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period, according to a new report by MarketsandMarkets™.
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The increasing complexity and sophistication of cyber threats that target identity and access vulnerabilities within organizations are the key driving factors for adopting ISPM solutions. With the rapid advancement of digital transformation and the increasing popularity of remote work, traditional security methods must be replaced. ISPM solutions provide a complete view and proactive control of identity risks, guaranteeing robust safeguarding of sensitive data and critical systems. ISPM improves adherence, lessens vulnerability, and strengthens security by automatizing security gap detection and resolution, which is essential in today's cybersecurity environment.
Identity Security Posture Management (ISPM) Market Dynamics:
Drivers:
Increasing frequency of identity-based attacks
- Rising demand for & Zero Trust Security Model
- Increasing focus of organizations toward meeting regulatory compliances
- Growing trend witnessed toward cloud-based services
Opportunities:
- Increasing adoption of hybrid deployment
- Advancements in AI & ML
Restraints:
- Privacy concerns in ISPM adoption
- Complexity in integrating ISPM into existing IT infrastructure
List of Identity Security Posture Management Companies:
- Microsoft (US)
- Cisco (US)
- Oracle (US)
- Palo Alto Networks (US)
- Check Point (US)
- Okta (US)
- CrowdStrike (US)
- Trend Micro (Japan)
- CyberArk (US)
- Ping Identity (US)
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Trend: Emphasis on Zero Trust and Least Privilege Principles
ISPM solutions align closely with Zero Trust and Least Privilege principles to enhance security postures. By enforcing strict access controls and minimizing access rights based on job roles and responsibilities, organizations reduce the attack surface and mitigate the impact of potential breaches. ISPM frameworks support implementing these principles by continuously verifying identities, devices, and applications before granting access.
Trend: Convergence of IAM and Security Posture Management
Traditional IAM solutions are evolving to integrate with Security Posture Management capabilities. This convergence allows organizations to manage identities comprehensively, incorporating security posture insights to mitigate better risks associated with identity-related threats. By unifying IAM and SPM, organizations can achieve more robust identity-centric security strategies encompassing access control and security posture evaluation.
Trend: Shift Towards Continuous Monitoring and Adaptive Controls
A noticeable trend is toward continuously monitoring identity-related risks and adaptive controls within ISPM frameworks. Organizations increasingly adopt technologies that provide real-time visibility into identity behaviours and security postures. This approach enables proactive identification of anomalies and immediate response to emerging threats, ensuring that access privileges dynamically adjust based on contextual risk assessments.
By offering, the services account for the highest CAGR during the forecast period.
ISPM services are segmented into professional and managed services. These services safeguard businesses and individuals from identity theft. ISPM services offer organizations a comprehensive approach to managing identity and access controls across diverse environments, ensuring compliance with stringent data protection laws and fortifying defences against evolving cyber threats. As businesses strive to enhance their security resilience and maintain trust in an era of heightened digital risk, ISPM emerges as a critical solution for bolstering identity-centric security strategies.
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By solution, the identity and access management integration sub-segment accounts for a larger market share.
Identity and Access Management Integration within the ISPM market involves the consolidation of various IAM functionalities, such as user provisioning, single sign-on, multi-factor authentication, and role-based access control, into a unified security framework designed to enhance an organization's overall security posture. This integrated solution ensures consistent enforcement of identity policies across all systems and seamless interoperability with other security tools. Due to its specialized nature and the complexity of its implementation, Identity and Access Management Integration is primarily adopted by highly regulated industries. It leads to a more focused market than standalone IAM solutions, which address various organizational sizes and sectors.
Opportunity: Enhanced user experience and productivity
In the ISPM space, there is an opportunity to improve user experience and productivity by implementing seamless, frictionless authentication methods. Advances in biometric authentication, password less solutions, and adaptive access controls can streamline the login process while maintaining robust security measures. By reducing user dissatisfaction with complex authentication procedures, ISPM solutions can enhance overall organizational productivity and satisfaction, ultimately leading to improved operational efficiency and reduced IT support costs.
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