Identity And Access Management Market Poised for 15.8% Growth, Set to Hit $52.28 Billion by 2029

What combination of drivers is leading to accelerated growth in the identity and access management market?
The rise in cyber threats is projected to fuel the expansion of the identity and access management market in the future. Cyber threats are understood as potential hazards or dangers brought about by malicious activities which aim to compromise data via extensive activities and tactics targeting computer systems, networks, and electronic information. Emerging technologies' adoption provides cyber criminals with a relatively secret and dispersed means to gain unauthorized access or initiate malware attacks. Identity and access management serves as an initial barrier of protection, facilitating secure user privilege administration, verification, and authorization to mitigate the impact of cyber threats and boost the overall cybersecurity posture. For instance, as per the Cyber Security Centre, an Australia-based cybersecurity agency, the number of cybercrime reports in 2022 was 76,000, reflecting a 13% increase from the previous year as recorded in February 2023. Thus, the escalation of cyber threats is propelling the growth of the identity and access management market.

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What is the projected compound annual growth rate (CAGR) of the identity and access management market from 2025 to 2034, and what factors influence it?
Rapid expansion has been witnessed in the identity and access management market size over the past few years. This market is projected to surge from $18.83 billion in 2024 to $21.81 billion in 2025, showing a remarkable compound annual growth rate (CAGR) of 15.8%. This substantial growth during the historical period can be ascribed to the escalating cyber threats, the rising popularity of cloud services, ongoing digital transformation efforts, and compliance regulations.

The market size for identity and access management is projected to experience swift expansion in the approaching years, increasing to $39.17 billion by 2029, with a compound annual growth rate (CAGR) of 15.8%. This expansion during the forecast period is primarily attributed to the incorporation of biometric authentication and rising ubiquity of internet of things (IoT) devices. Predominant tendencies during this forecast period incorporate biometric authentication, usage of cloud technology, multi-factor authentication, adaptive access control, and the acceptance of blockchain technology.

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How are the latest trends influencing the growth of the identity and access management market?
Major corporations in the identity and access management market are leveraging inventive technologies like machine learning algorithms to establish a competitive lead. Machine learning algorithms are computational systems that allow computer programs to identify patterns and form predictions or decisions based on collected data without needing specific programming. A case in point would be Microsoft Corporation, a US-based tech company, which in June 2023 introduced Microsoft Entra Identity Governance. This is an enhanced set of identity governance features aimed at aiding organizations to control access to crucial assets, bolster security, and meet compliance and regulatory standards. Microsoft Entra ID Governance employs technologies such as entitlement management, access reviews, lifecycle workflows, and privileged identity management to secure access to vital assets, increase productivity, and comply with regulatory rules. It's crafted to help companies manage resource access, making sure appropriate accesses are allotted to the right people, at the right time, to the right resources. Moreover, it supports the formation of user identities and roles in the necessary applications, as well as the maintenance and removal of user identities as required.

What are the major segments of the identity and access management market and their role in driving growth?
The identity and access management market covered in this report is segmented -

1) By Component: Provisioning, Directory Service, Single Sign-On (SSO), Password Management, Advanced Authentication, Audit, Compliance, And Governance, Other Components
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By End-user: Banking, Financial Services, And Insurance (BFSI), Energy, Oil And Gas, Information Technology (IT) And Telecommunication, Education, Healthcare, Public Sector And Utilities, Manufacturing, Other End-Users

Subsegments:
1) By Provisioning: User Provisioning, Role-based Provisioning, Automated Provisioning
2) By Directory Service: Active Directory (AD), Lightweight Directory Access Protocol (LDAP), Cloud Directory Services
3) By Single Sign-On (SSO): Web SSO, Federated SSO, Mobile SSO
4) By Password Management: Password Vaulting, Self-service Password Reset, Password Policy Management
5) By Advanced Authentication: Multi-Factor Authentication (MFA), Biometric Authentication, Risk-Based Authentication
6) By Audit, Compliance, And Governance: Compliance Management, Access Auditing, Identity Governance And Administration (IGA), Risk And Compliance Monitoring
7) By Other Components: Identity Federation, User Behavioral Analytics (UBA), Privileged Access Management (PAM)

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Which regions are key players in the growth of the identity and access management market?
North America was the largest region in the identity and access management (IAM) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the identity and access management (IAM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the identity and access management market?
Major companies operating in the identity and access management market are Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, The International Business Machines (IBM) Corporation, SecureAuth Corporation, OneLogin Inc., Broadcom Inc., Thales Group, Evidian S.A., Akamai Technologies, Micro Focus International plc, Okta Inc., Netwrix Corporation, RSA Security LLC, CyberArk Software Inc., Ping Identity Corporation, Delinea, ForgeRock Inc., Simeio Solutions, One Identity LLC, Avatier Corporation

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What Is Covered In The Identity And Access Management Global Market Report?

•Market Size Forecast: Examine the identity and access management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the identity and access management market for a structured understanding.
•Key Players Overview: Analyze major players in the identity and access management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the identity and access management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the identity and access management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the identity and access management market.
•Industry Challenges: Identify potential risks and obstacles affecting the identity and access management market.
•Competitive Landscape: Review strategic developments in the identity and access management market, including expansions, agreements, and new product launches.

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