Identity and Access Management Market 2023 Driving Factors Forecast Research 2029

The global identity and access management market is anticipated to grow at a significant CAGR of 13.5% during the forecast period. The major factor driving the growth of the identity and access management market during the forecast globally is the increasing instances of security breaches and growing instances of identity-related fraud. According to the Federal Trade Commission (FTC), in 2020, identity fraud incidents increased by almost 45% incurring huge financial losses globally. For the same timeframe, ID thefts of more than one million children were reported by FTC. Furthermore, in 2021, around 1.4 million reports of identity theft were received by the FTC. Hence, the increasing instances of identity theft are driving the demand for identity and access management solutions which in turn is driving the market growth.

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The COVID-19 pandemic had a positive impact on the global identity and access management market. During COVID-19, the population across the globe has witnessed a major shift in the businesses to operate online due to the COVID-19 pandemic has increased the instances of security breaches and cyber fraudulent activities which in turn has increased the spending on cybersecurity by the companies. Hence, this is driving the growth of the market during the forecast period. Further, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which forced the companies to operate online or adopt cloud platforms for their operations. Hence, the shifting of businesses online due to COVID-19 increased the risk for security breaches as well as hacking which in turn increased the demand for identity and access management solutions and services making it critical for businesses.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Identity and Access Management Market by Component
o Solution
o Services

Global Identity and Access Management Market by Deployment Mode
o Cloud
o On-Premises

Global Identity and Access Management Market by Vertical
o BFSI
o Travel and Hospitality
o Healthcare
o Retail and E-commerce
o IT
o Others (Education)

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Avatier Corp.
o Beyond Identity, Inc.
o CyberArk
o EmpowerID
o ForgeRock
o HID Global
o Otka Inc.
o Ping Identity Corp.
o RSA Security LLC
o SAP SE

The Report Covers
• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global identity and access management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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