Identity and Access Management (IAM) Market Developments, Comprehensive Analysis, Industry Revenue Figures, Outlook, and Study of Top Players until 2029 | Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity (US), HID Global (U

Identity and Access Management (IAM) Market by Offering (Solutions and Services), Type, Solution (Data Directory, Identity Lifecycle Management, Authentication, Verification), Service, Deployment Mode, Vertical and Region - Global Forecast to 2028

Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=267353

Major vendors in the global IAM market include Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity (US), HID Global (US), ForgeRock (US), CyberArk (US), MicroFocus (US), Thales (France), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US), SAP (Germany), Simieo (Georgia), One Identity (US), FusionAuth (US), Auth0 (US), IDnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US), Beyond Identity (US), Akamai (US), Deliniea (US), Optimal IdM (US), Netwrix (US) and Zoho Vault (US).

"The growth potential of the IAM market is fueled by key factors such as an exponential rise in the number of data breaches and prolific usage of cloud to minimize the incurred expenditure. Together, these factors will boost the overall development of the IAM market."

The global IAM market size is projected to grow from USD 15.7 billion in 2023 to USD 32.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The IAM market is propelled by key factors that are shaping its growth trajectory. These include the increasing occurrence of identity thefts, stolen identity information, brand defamation cyberattacks, and identity fraud related threats, which necessitate robust IAM solutions for effective defense. Furthermore, the industry's response to the scarcity of cybersecurity skills and the overwhelming volume of alerts has fueled the adoption of IAM services, providing organizations with the expertise and support needed to mitigate risks.

Government regulations mandating compliance have also driven the market, as organizations seek IAM solutions to meet security requirements. Additionally, the rapid proliferation of technology and the expanding penetration of IoT devices have created new avenues for cyber threats, further boosting the demand for IAM services as a proactive defense mechanism.

By vertical, the BFSI segment holds the largest market size

IAM solutions are increasingly gaining popularity in the BFSI segment, which remains the largest market in the IAM landscape for several compelling reasons. The BFSI industry handles large volumes of highly valuable financial and customer data, making it an attractive target for malicious actors. Therefore, there is a pressing need to strengthen data protection, driving the demand for comprehensive IAM solutions within the sector. Furthermore, the BFSI domain operates under stringent regulatory frameworks and compliance standards that require robust security measures and swift incident response capabilities. IAM services effectively cater to these requirements, ensuring that organizations can meet the necessary security and compliance obligations.

Moreover, the BFSI sector places great importance on the security of its customers' sensitive data. IAM solutions provide comprehensive insights into customers, enabling BFSI organizations to deliver a unified experience and ensure the protection of sensitive information. By implementing IAM solutions, the BFSI industry can enhance security measures and effectively manage regulatory compliance. Given these advantages, IAM solutions are increasingly being embraced by the BFSI vertical, solidifying its dominance as the largest market segment in the IAM landscape.

By deployment mode, the cloud segment registered the highest CAGR during the forecast period

The increasing adoption of cloud computing and the migration of critical business operations to cloud environments have fueled the growth of cloud deployment. Within the cloud, Identity and Access Management (IAM) can be effectively managed through authentication as a service or identity as a service (IDaaS) models. These approaches involve third-party service providers that assume the responsibility of authenticating, registering, and managing user information. One of the key drivers for cloud deployment, particularly among small and medium-sized enterprises (SMEs), is the ability to focus on core competencies without the need to invest capital in building and maintaining security infrastructure. By leveraging cloud-based IAM solutions, SMEs can redirect their resources towards business priorities instead of managing complex security systems. Cloud-based solutions offer cost savings by eliminating the need for hardware, software, storage, and technical staff that would otherwise be required for on-premises IAM implementations.

Feel free to ask your queries at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=267353

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IAM market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

Research Coverage

The report segments the IAM market and forecasts its size by Type (Workforce IAM, Consumer IAM), by Offerings (Solutions, Services), by Solution (Data Directory, Identity Lifecycle Management, Authentication, Verification, Access Management and Authorization, Audit, Compliance, and Governance), by Service (Integration and Deployment, Support and Maintenance, Consulting), by Deployment mode (Cloud, On- Premises), Vertical (BFSI, Travel, Tourism and Hospitality, Healthcare, Retail and eCommerce, IT &ITeS, Education, Government and Defense and other verticals), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

This release was published on openPR.