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Identity & Access Management Market Showing Impressive Growth Due to Growing awareness about the importance of data security - IBM Corporation, CA Technologies, Dell, ForgeRock, Bomgar-BeyondTrust, Oracle Corporation
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Identity and access management (IAM) is a framework of policies and technologies for ensuring that the right individuals have access to the right resources at the right times for the right reasons. IAM systems manage user identities and their associated access rights to applications and data.
IAM is critical for any organization that relies on IT to conduct business. IAM systems help organizations control who has access to what, and under what circumstances. By managing user identities, IAM systems also help organizations comply with regulations, such as the Sarbanes-Oxley Act and the Gramm-Leach-Bliley Act.
Key Trends
There are three key trends in Identity & Access Management (IAM) technology:
1. The move to cloud-based IAM solutions: More and more businesses are moving to the cloud, and IAM solutions are no exception. Cloud-based IAM solutions offer many benefits, including reduced costs, increased flexibility, and scalability.
2. The rise of identity as a service (IDaaS): IDaaS is a cloud-based IAM solution that delivers all the benefits of the cloud while also providing additional features such as identity and access management, single sign-on, and multi-factor authentication.
3. The increase in IAM automation: As businesses become more reliant on IAM solutions, there is an increased need for automation. IAM automation can help to reduce costs, increase efficiency, and improve security.
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Market Segmentation
The Identity & Access Management Market is segmented by component, deployment, end-user, and region. By component, the market is divided into solution and services. By deployment, the market is bifurcated into cloud and on-premise. By end-user, the market is classified into manufacturing, finance and insurance, public administration, and others. By region, the market is classified into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players in the Identity & Access Management Market are IBM Corporation, CA Technologies, Dell, ForgeRock, Bomgar-BeyondTrust, Oracle Corporation, SAP SE, Microsoft, NetIQ (Micro Focus) and Okta.
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Key Drivers
The key drivers of Identity & Access Management market are:
- Increasing need for compliance with regulatory mandates and industry standards
- Growing awareness about the importance of data security
- Rising incidents of data breaches and cyber attacks
- Increasing adoption of cloud-based IAM solutions
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