What's driving the Identity and Access Management Market Growth? SailPoint, Centrify Corporation, Dell, IBM, Microsoft, Oracle, Symantec Corporation

The rapidly escalating growth in the telecom & IT sector is certain to impel identity and access management market. As the IT & telecom industry works with a large user base, it is essential for the service providers to maintain the security of the sensitive user data. According to a survey by The Communications Fraud Control Association (CFCA), the telecommunications industry experienced $38.1 billion in fraudulent charges in 2016. As per CFCA, cyber fraudsters are seemingly working to develop new ways to siphon money from renowned, well-established organizations of various sectors.

Increasing adoption of IoT technologies across businesses has apportioned massive earnings for the identity and access management (IAM) market, with enterprise operations becoming more digitized and data-driven. The deeper the digitization of an organization's functioning, the more susceptible it is to data breaches, security leaks, inside attacks and privacy threats. Consequently, the need for regulated data access and digital identification to comply with security mandates and eliminate various risks has created an ideal demand for the identity and access management industry.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. SailPoint Technologies Holdings.
2. Centrify Corporation
3. Dell Inc.
4. IBM Corporation
5. Microsoft Corporation
6. ForgeRock
7. CA Technologies
8. Crossmatch
9. Gemalto
10. iWelcome
11. Okta
12. Oracle
13. Ping Identity
14. Symantec Corporation

Companies in the retail sector are particularly subject to tremendous amount of personnel changes over a year and warrant significant revenue contribution towards the identity and access management market. Provisioning in the retail segment plays an important role in allotting identities to the staff as well as third-party logistic partners throughout stores where they do not have IT staff present on site and there is frequent turnover. With constant staff turnover, regional legislations and a vast number of seasonal workers, the fast moving retail sector is vulnerable to risks. However, provisioning solutions help protect customer confidence, revenue and the brand reputation. Also, retail is a data driven industry, and the services offered by identity and access management market allow for easier tracking of provided access and how they are handled.

North America is undoubtedly one of the most crucial regional generators for identity and access management market. In 2017, North America accounted for a mammoth 46% of the overall industry share, primarily on account of the changing workforce requirements and the surging adoption of cloud applications and BYOD. The U.S. the most dominant regional ground for North America IAM market, given that security is the foremost crucial parameter for the plethora of companies in the country.

A robust increase in the adoption of advanced technologies such as cloud computing and IoT will drive the identity and access management market in the upcoming years. IAM apparently makes businesses more agile, efficient and scalable, and also offers them considerable benefits such as reduced risk of data breaches, centralized access control, ensured regulatory compliance, improved user experience, and a significant reduction in IT costs. This has quite overtly led to a spurt in investments in IAM market from venture capitalists and enterprise organizations.

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