Identity & Access Management Market size 2018-2024 By Solution, Deployment Model, Application, Regional Statistics, Global Revenue, Forecast 2024
Identity & Access Management Market in BFSI sector is projected to grow at a CAGR of 13.1% over the forecast timespan.
Sellbyville, United States – June 27, 2019 /MarketersMedia/ —
The revenue of identity & access management market is slated to cross industry valuation of USD 18.5 billion by 2024. IAM products deliver role-based access control, allowing system administrators to regulate access to networks based on the role of the employees within the organization. It majorly focuses on ensuring that the partners, employees, and customers receive secure and simple access to the applications without compromising on security. The major benefits associated with the installation of IAM systems for the enterprises include reduced data breaches, centralized access control, reduced IT cost, and improved user experience. These systems assist the organizations in keeping up with staff moving across various roles in an enterprise. As these solutions deliver secure ways to authorize, authenticate, and manage users without negotiating on usability and convenience, their usage is increasing rapidly in the IAM market.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/176
North America is projected to dominate the market as IAM solutions have gained importance in different sectors such as BFSI, healthcare, telecom, and utilities in this region. Furthermore, technological advancements in the IoT and cloud computing technologies followed by increased usage of smartphones are also driving the market growth. Asia Pacific is the fastest growing region in the identity & access management market, expected to generate a revenue of approximately USD 3.9 billion by 2024 due to the rising increase in the rate of cybercrime and emergence of SMEs in this region. Furthermore, as the industries functioning in this region are also facing increasing scrutiny regarding security measures, the demand for IAM solutions is rising at a fast pace.
The identity & access management market in BFSI segment is growing at the fastest rate as the banks and financial institutions carry sensitive customer information, ensuring an extremely secure environment as any kind of security breach can be costly and devastating. To improve the IAM security, the BFSI industry is adopting an efficient process by integrating multi-factor authentication into their network’s user’s account. For instance, in March 2016, HSBC bank started using voice recognition and fingerprint scanning along with the standard password authentication technology to protect the online user accounts. Various steps are taken to safeguard the online transactions due to the rise in the adoption of mobile banking. Fingerprint activated payment systems are being installed in smartphones to safeguard online banking.
The on-premise deployment model dominates the identity & access management market with a market revenue of USD 8.08 billion in 2017 anticipated to reach USD 14.6 billion by 2024. The on-premise delivers continuous and secured access to various applications throughout the enterprise. These solutions perform various tasks such as securing identity and attribute stores, identity data synchronization, external access control for applications, and user provisioning, driving their growth in the market. However, as this model is mainly suitable for large organizations, which have enterprise-wide entitlements and applications, enterprises are now shifting toward the cloud-based IAM models.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/176
The provisioning solution dominates the identity & access management market and held around 40.7% of the market share in 2017. This solution delivers employees, clients, and other stakeholders with enhanced IAM features to manage the provisioning and de-provisioning of various computing resources. The rising demand for reliable provisioning solutions and the increasing traction of risk mitigation and security also have a positive impact on the market growth. Provisioning solutions are adopted in diverse industrial application to support digital identity creation, validation, approval, change, termination, propagation, and communication.
The trend of connected devices such as BYOD is rapidly increasing, offering enhanced productivity, reduced hardware cost for organizations, and improved employee satisfaction. Moreover, increased mobile penetration, rising employee mobility software demand, and the increasing prominence of mobility service management are also driving the demand for IAM solutions. Employees, partners, and contractors are carrying personal devices to the workplace to connect with the corporate network. Around 70% of the organizations have adopted the BYOD trend, which is anticipated to rise over the forecast timeline. However, the rising adoption of the connected technology also has resulted in increased threats of cybercrimes. This necessitates the deployment of effective IAM solutions to prevent unauthorized access to the company’s data, accelerating the identity & access management market growth.
Browse key industry insights spread across 200 pages with 210 market data tables & 38 figures & charts from the report, “Identity & Access Management Market Size By Solution (Provisioning, Password Management, Directory Services, Advanced Authentication, Single Sign-On, Audit, Compliance and Governance), By Deployment Model (On-premise, Cloud), By Application ( BFSI, IT & Telecom, Healthcare, Education, Public Sector and Utilities, Manufacturing, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, Singapore, India, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/identity-and-access-management-market
Chapter 5. IAM Market, By Solution
5.1. Key trends, by solution
5.2. Provisioning
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Password management
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Directory service
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
5.5. Advanced authentication
5.5.1. Market estimates and forecast, 2013 – 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024
5.6. Single Sign-On (SSO)
5.6.1. Market estimates and forecast, 2013 – 2024
5.6.2. Market estimates and forecast, by region, 2013 – 2024
5.7. Audit, compliance and governance
5.7.1. Market estimates and forecast, 2013 – 2024
5.7.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/identity-and-access-management-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/
Source: MarketersMedia
Release ID: 88890454
Copyright © 1999-2013 SproutNews.com
