Allied Market Research Unveils Explosive Growth Projections for User Provisioning Market, Anticipating $15 Billion by 2031
User provisioning involves the creation and management of access to IT system resources, facilitating effective, secure, and reliable information management of users on applications. This software serves as a pivotal tool for HR staff to access databases, gather employee information, and monitor access requests.
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The primary driving force behind market growth is the increased adoption of cloud-based software and the growing demand for enhanced workforce utilization. The rise in cloud-based Identity and Access Management (IAM) adoption and the surge in identity theft incidents further contribute to the market's expansion. However, challenges such as high costs, a shortage of security expertise, and the risk of shadow IT impede market growth. Nevertheless, evolving technologies are anticipated to provide lucrative opportunities for market expansion.
In terms of components, the solution segment dominated the market in 2021, emphasizing its role in ensuring cost savings, management control, operational efficiency, and overall business growth. Conversely, the services segment is expected to experience the highest growth by minimizing deployment costs and risks.
Based on business function, the IT segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The marketing and sales segment, on the other hand, is expected to cite the fastest CAGR of 15.9% during the forecast period.
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Regionally, North America led the User Provisioning Market in 2021, driven by heightened concerns regarding the security of IT infrastructure and complex data, prompting enterprises in the region to adopt reliable user provisioning and authentication solutions. On the other hand, the Asia Pacific region is poised for the highest growth during the forecast period, fueled by rapid technological advancements, digitization of economies, and government initiatives, coupled with increased expendable income among the middle-income population.
The COVID-19 outbreak significantly impacted the user provisioning market, leading to global production restrictions and indefinite shutdowns, causing economic downturns in many countries. Despite these challenges, incidents of identity theft persisted, highlighting the continued relevance of user provisioning solutions. The market's response to the pandemic has created growth opportunities, with enterprises making substantial investments in user provisioning solutions.
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This report gives an in-depth profile of some key market players in user provisioning industry include ATOS, CA Technologies, Cyberark, Centrify Corporation, Dell Technologies, EmpowerID, Inc., Hitachi, Happiest Minds, IDMWORKS, Kinetix, OneLogin, Inc., IBM Corporation, JumpCloud, Microsoft Corporation, Oracle Corporation, SAP SE, SolorWinds LLC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel the growth of the user provisioning industry globally.
The report analyzes these key players in the global user provisioning market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report helps analyze recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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