Identity and Access Management (IAM) Market Revenue Analysis By Major Players Ping Identity, Okta, Inc., HID Global, SailPoint, Symantec, Siemens, Oracle, OpenText, Microsoft, IBM, Hitachi, Gemalto, ForgeRock, Dell, Centrify Corporation, CA Technology

The U.S. dominates the North American Identity and Access Management (IAM) Market as security is a major parameter for the companies operating in this region. The country has encountered a large number of data breaches and hence the U.S. companies have largely increased their cybersecurity budgets, ensuring the safety and security of their information.

Furthermore, the country is home to the leading IAM solution providers including companies such as IBM, Microsoft, Oracle, Dell, and Symantec. These companies are involved in strategic partnerships and collaborations to expand their market presence and deliver enhanced security services to their customers. For instance, in March 2018, Biometric Signature ID (BSI), a U online biometric multi-factor authentication provider based in the U.S. partnered with companies including ICSynergy, ForgeRock, and Okta. This partnership will allow BSI customers to buy BioSig-ID software licenses, enabling them to authenticate and protect users and their online data.

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The major manufacturers covered in this report: -
1. Ping Identity
2. Okta, Inc.
3. HID Global
4. SailPoint
5. Symantec
6. Siemens
7. Oracle
8. OpenText
9. Microsoft
10. IBM
11. Hitachi
12. HID Global
13. Gemalto
14. ForgeRock
15. Dell
16. Centrify Corporation
17. CA Technologies

The trend of connected devices such as BYOD is rapidly increasing, offering enhanced productivity, reduced hardware cost for organizations, and improved employee satisfaction. Moreover, increased mobile penetration, rising employee mobility software demand, and the increasing prominence of mobility service management are also driving the demand for IAM solutions. Employees, partners, and contractors are carrying personal devices to the workplace to connect with the corporate network. Around 70% of the organizations have adopted the BYOD trend, which is anticipated to rise over the forecast timeline.

The audit, compliance, and governance solution is anticipated to grow at the fastest rate with a CAGR of around 16.1% over the forecast period. The implementation of regulatory compliance by governments across various industry verticals including BFSI, healthcare, retail, and IT & telecom has enabled the organizations to adopt the audit, compliance and governance solutions. For instance, The Health Insurance Portability and Accountability Act (HIPPA) act was passed in 1996 to assure that the individuals health data is protected while permitting the flow of data as per requirement to promote high-quality healthcare and protect public well-being.

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The cloud-based deployment model is projected to grow at the fastest rate due to the rising demand for cost-effective, scalable, and flexible IAM solutions. The growing trend of BYOD and various enterprise mobility solutions has also resulted in a large cloud IAM adoption rate by enterprises to manage remote access services. The enterprises also suffer through huge losses due to cyberattacks, increasing the demand for cloud-based solutions delivering enhanced IAM security. For instance, in September 2017, Nexus Group, an identity and security company partnered with Morphean, a video surveillance vendor for enabling cloud-based access control.

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 prominent companies functioning in the Identity and Access Management (IAM) Market include CA Technologies, Centrify Corporation, Crossmatch, Dell Inc., ForgeRock, Gemalto, IBM Corporation, iWelcome, Microsoft Corporation, Okta, Inc., Oracle, Ping Identity, SailPoint Technologies Holdings, Inc., and Symantec.

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Identity and access management market research report includes an in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Identity and Access Management Market, By Solution

o Provisioning
o Password Management
o Directory Services
o Advanced Authentication
o Single Sign-On
o Audit, Compliance, and Governance

Identity and Access Management Market, By Deployment Model

o On-premise
o Cloud

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