Global Identity and Access Management Market Trends 2018-2024 By Key Players are Dell, ForgeRock, Gemalto, IBM Corporation, HID Global Corporation, iWelcome, Microsoft Corporation, Net IQ, Okta, Ping Identity, SailPoint Technologies Holdings

Market Overview: -

According to latest study by Global Market Insights, Inc., Identity and Access Management (IAM) Market is projected to surpass USD 18.9 billion by 2024. IAM products deliver role-based access control, allowing system administrators to regulate access to networks based on the role of the employees within the organization. It majorly focuses on ensuring that the partners, employees, and customers receive secure and simple access to the applications without compromising on security. The major benefits associated with the installation of IAM systems for the enterprises include reduced data breaches, centralized access control, reduced IT cost, and improved user experience. These systems assist the organizations in keeping up with staff moving across various roles in an enterprise. As these solutions deliver secure ways to authorize, authenticate, and manage users without negotiating on usability and convenience, their usage is increasing rapidly in the IAM market.

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Top Key Players:

The companies operating in the IAM market are investing funds to enter into strategic partnerships and collaborations and develop innovative solutions, gaining a competitive edge in the market. Some of the major vendors operating in the IAM market are Dell, Inc., ForgeRock, Gemalto, IBM Corporation, HID Global Corporation, iWelcome, Microsoft Corporation, Net IQ, Okta, Inc, Ping Identity, and SailPoint Technologies Holdings, Inc.

Market share calculation in this report is not done based on companies covered in it. The calculation of identity and access management market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countriess can be provided.

Regional Segmentations: -

North America is projected to dominate the market as IAM solutions have gained importance in different sectors such as BFSI, healthcare, telecom, and utilities in this region. Furthermore, technological advancements in the IoT and cloud computing technologies followed by increased usage of smartphones are also driving the identity and access management market growth. Asia Pacific is the fastest growing region in the IAM market, expected to generate a revenue of approximately USD 3.9 billion by 2024 due to the rising increase in the rate of cybercrime and emergence of SMEs in this region. Furthermore, as the industries functioning in this region are also facing increasing scrutiny regarding security measures, the demand for IAM solutions is rising at a fast pace.

The Latin American identity and access management market is anticipated to grow at a CAGR of 13.1% over the forecast timespan. Due to the increasing connectivity in personal, urban, and corporate environments, the dependence on technology and associated vulnerabilities has increased in this region giving rise to cyberthreats. Over the last decade, this region has witnessed huge digitalization with an enhanced adoption of big data, cloud computing, and IoT solutions, accelerating the identity and access management market demand.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definition
1.1.6. Methodology and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.1.1. Paid Sources
1.2.1.2. Public Sources
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. IAM industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Solution trends
2.1.4. Deployment model trends
2.1.5. Application trends
Chapter 3. IAM Market Industry Insights
3.1. Introduction
3.2. IAM industry segmentation
3.3. IAM industry landscape, 2013 - 2024
3.4. IAM industry ecosystem analysis
3.5. IAM industry evolution
3.6. IAM industry architecture
3.7. IAM life cycle
3.8. Market news
3.9. Regulatory landscape
3.9.1. Australian Prudential Regulation Authority (APRA)
3.9.2. U.S. Security and Exchange Commission (SEC)
3.9.3. General Data Protection Regulation (GDPR)
3.9.4. Health Insurance Portability and Accountability Act (HIPAA)
3.9.5. Gramm-Leach-Bliley Act (GLBA)
3.9.6. Payment Card Industry Data Security Standards (PCI DSS)
3.9.7. Sarbanes-Oxley Act (SOX)
3.10. Technology & innovation landscape
3.10.1. Cloud computing and IoT
3.10.2. Blockchain technology
3.11. Industry impact forces
3.11.1. Growth drivers
3.11.1.1. Substantial growth in data breaches, identity theft and hacking incidents among organizations
3.11.1.2. Enhanced prominence of compliance management
3.11.1.3. Rising demand for mobility and remote workforce IAM
3.11.1.4. Increasing adoption of connected technology including IoT, cloud computing and BYOD
3.11.1.5. Challenges related to employee on-boarding and off-boarding
3.11.2. Industry pitfalls & challenges
3.11.2.1. Lack of knowledge about IAM solutions
3.11.2.2. Independent processes throughout the organization
3.11.2.3. Higher reliance on users to protect their ID and password
3.12. Growth potential analysis
3.13. Porter's analysis
3.14. PESTEL analysis

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The BFSI segment is growing at the fastest rate as the banks and financial institutions carry sensitive customer information, ensuring an extremely secure environment as any kind of security breach can be costly and devastating. To improve the IAM security, the BFSI industry is adopting an efficient process by integrating multi-factor authentication into their networks users account. For instance, in March 2016, HSBC bank started using voice recognition and fingerprint scanning along with the standard password authentication technology to protect the online user accounts. Various steps are taken to safeguard the online transactions due to the rise in the adoption of mobile banking. Fingerprint activated payment systems are being installed in smartphones to safeguard online banking.

The on-premise deployment model dominates the identity and access management market with a market revenue of USD 8.08 billion in 2017 anticipated to reach USD 14.6 billion by 2024. The on-premise delivers continuous and secured access to various applications throughout the enterprise. These solutions perform various tasks such as securing identity and attribute stores, identity data synchronization, external access control for applications, and user provisioning, driving their growth in the market. However, as this model is mainly suitable for large organizations, which have enterprise-wide entitlements and applications, enterprises are now shifting toward the cloud-based IAM models.

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