Rising Instances of Security Breaches Driving Global Identity and Access Management Market Forecast 2022 to 2027

News provided by

May 26, 2022, 07:00 ET

DUBLIN, May 26, 2022 /PRNewswire/ -- The "Identity and Access Management Market with COVID-19 Analysis, by Component (Solutions, Services), Solution (Data Directory, Identity Lifecycle Management), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global IAM market size is expected to grow from USD 13.4 billion in 2022 to USD 25.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2022 to 2027.

The major factors fueling the IAM market include rising instances of security breaches and escalating instances of identity-related fraud, growing awareness about compliance management, increasing need for IAM for IoT, and increased spending on cybersecurity following COVID-19 pandemic.

Services to grow at a higher CAGR during the forecast period

As threats are evolving, businesses need to protect their valuable assets; hence, why IAM services also need to be in place to prevent such malicious attacks. With the right IAM services, IT can authorize access and grant the necessary privileges to both internal and external stakeholders.

Hence, there has been a demand for IAM services because they have become an important part of IT planning and strategy. Increasing demand for facilitating the needs of end-users would drive IAM services. Post the pandemic, many enterprises are struggling to provide suitable security to the Middle East and African users and to all their remote workforce to defend against emerging advanced threats and thefts. IAM services enable enterprises to tackle security issues and maintain business continuity during the pandemic.

North America to have a higher market share during the forecast period

Increasing migration toward cloud-based technologies is also expected to drive the adoption of IAM solutions in the region. Leading analysts from ForgeRock states that hybrid cloud and hybrid IAM will continue to be the best approach in the coming years to support legacy systems.

Legacy applications will continue to prevail until they are migrated to either SaaS applications or applications developed in DevSecOps. Organizations in regulated sectors such as BFSI, healthcare, public sector, manufacturing, retail, and government use the cybersecurity services offered by security vendors, such as IBM and Intel, as these vendors have in-country security centers with huge infrastructure investments.

Supportive government initiatives for improving and ensuring cybersecurity across all federal departments and government agencies would drive the adoption of IAM solutions in the US and Canada. The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies.

Profile break-up of primary participants:

By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C-level Executives - 35%, Directors - 25%, and Others - 40%
By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%

Key Players

The study includes an in-depth competitive analysis of the key players in the IAM market, with their company profiles, recent developments, and key market strategies.

Major vendors offering IAM market across the globe are Microsoft (US), IBM (US), Oracle (US), Broadcom (US), Salesforce (US), Ping Identity (US), Okta (US), HID Global (US), ForgeRock (US), CyberArk (US), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US), SAP (Germany), Simeio (Georgia), OneIdentity (US), FusionAuth (US), Auth0 (US), IDnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US), Beyond Identity (US).

Research Coverage

The market study covers the IAM market size across segments. It aims at estimating the market size and growth potential of this market across different segments: by component, by Solution, by service, by deployment model, by organization size, vertical, and by region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to Buy 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 subsegments. 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 pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Executive Summary:

Identity was introduced to the digital world in 1960 when Fernando Corbato created the use of passwords for securing computer files. With time, the developments in computing systems and the Internet of Things (IoT) continued their march toward enhancements, making them the most essential part of businesses processes.

With the growth in the number of applications, systems, and data, enterprises realized that requiring a username and password for validating identities of people accessing resources is insufficient.

Hence, IAM tools were developed to secure access and prevent data breaches. The IAM technology is utilized to initiate, capture, manage, and record user identities as well as provide the staff of an organization permissible access to various enterprise resources. IAM can be described as the management of individual identities, their authorization, and the provision of access based on predefined rules.

Key Topics Covered:

Premium Insights