Latest News- Customer Identity And Access Management (IAM) Market: On-premises is expected to lead the Deployment segment during 2024-2028

The Customer Identity And Access Management (IAM) Market is being driven by Increase in data thefts globally

The Customer Identity And Access Management (IAM) Market is expected to grow at a CAGR of 21.48% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 19368.8 million. In today's business landscape, the trend towards remote work and the increasing use of personal devices have led to a significant shift in how organizations manage customer identity and access to resources. With a growing number of employees utilizing smartphones and tablets to stay connected to the corporate network, the Bring Your Own Device (BYOD) concept has become increasingly popular. This policy enables employees to access organizational data and resources using their personal devices, enhancing productivity and efficiency. Small and medium-sized enterprises (SMEs) have particularly benefited from this trend, as it allows them to leverage the latest technology without the need for extensive IT infrastructure investments. As a result, personal devices such as laptops, smartphones, and tablets have become primary tools for professional tasks in many organizations. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• End-user
  • Large enterprises
  • Government organizations
  • SMEs
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in data thefts globally
• Rapid growth of Internet of Things (IoT) networks
• Increase in number of smart connected devices

However, the market also witnesses some limitations, which are as follows:

• Complexity of network infrastructure
• Need for high investments to meet information security requirements
• System integration and interoperability issues

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Market Scope in Customer Identity And Access Management (IAM) Market Research Report

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Research Analysis Overview

The Customer Identity and Access Management (IAM) market is a critical component of IT infrastructure for various industries, including financial institutions, manufacturing, utilities, healthcare, and more. IAM systems enable organizations to manage and secure access to their digital resources, ensuring only authorized individuals can access sensitive information. With the increasing threat of fraud, cyberattacks, identity theft, and security breaches, the demand for robust IAM solutions is higher than ever. Financial institutions, in particular, require advanced IAM systems to protect their customers' financial data. Decentralized Identity solutions are gaining popularity as they offer greater control and privacy for individuals. Microsoft, for instance, has introduced Azure Active Directory External Identities, which allows businesses to manage access to applications for external users using decentralized identities. Business expansions and hybrid deployment models require IAM systems that can support on-premise, hybrid, and cloud deployments. IAM professionals with skilled cybersecurity expertise are in high demand to implement and manage these systems. Privacy measures are essential in IAM, and IAM systems must comply with regulations such as GDPR and HIPAA. Mobile security is also a concern, and IAM systems must provide secure access to mobile applications. In conclusion, the IAM market is a vital aspect of IT infrastructure for various industries, and the need for advanced IAM systems to protect against cybersecurity threats continues to grow. IAM solutions must offer flexibility, scalability, and robust security features to meet the evolving needs of businesses.

Market Research Overview

The Customer Identity and Access Management (IAM) market falls under the broader category of IT management software within the global systems software market. This market encompasses businesses specializing in the development and implementation of software solutions for managing digital identities and controlling access to applications and systems. The global systems software market, a significant segment of the IT software industry, includes organizations engaged in the production of application development and management software, cloud computing software, data centers, and various types of networking and security software. According to Technavio, the market size for systems software is determined by the consolidated revenue generated by companies providing all types of software, including cloud-based solutions. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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