Customer Identity And Access Management (Iam) Market Size to grow by USD 19368.8 million between 2024-2028
According to a research report “ Customer Identity And Access Management (Iam) Market” by Deployment (On-premises, Cloud-based) End-user (Large enterprises, Government organizations, SMEs) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 19368.8 million, at a CAGR of 21.48% during the forecast period. The escalating threat of cybercrime, with an alarming number of data breaches and identity theft incidents, poses significant risks to businesses and consumers alike. In the US, for instance, the Federal Trade Commission reported a 45% increase in identity theft and fraud complaints in 2020, totaling approximately 4.8 million reports. Notable data breaches include the January 2020 attack on Landry's restaurant conglomerate, which targeted customers' payment card data, compromising cardholder names, credit and debit card numbers, expiration dates, and verification codes. These incidents underscore the critical importance of robust Customer Identity and Access Management (IAM) solutions to safeguard sensitive information and mitigate potential losses..
Browse market data tables, figures, and in-depth TOC on “Customer Identity And Access Management (Iam) Market” by Deployment (On-premises, Cloud-based) End-user (Large enterprises, Government organizations, SMEs) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Deployment, the On-premises segment is projected to dominate the market size in 2024
In the business world, ensuring secure and efficient access to digital resources is paramount. The Customer Identity and Access Management (IAM) market offers solutions that address this need, providing centralized management of user identities and access permissions. These solutions enhance security, streamline onboarding and offboarding processes, and enable compliance with regulatory requirements. By implementing IAM solutions, businesses can mitigate risks, improve operational efficiency, and deliver a seamless user experience.
By End-user, Large enterprises segment is expected to hold the largest market size for the year 2024
The Customer Identity and Access Management (IAM) market plays a pivotal role in safeguarding digital business operations. It enables organizations to manage and secure user identities, access permissions, and authentication processes. By implementing IAM solutions, businesses can ensure regulatory compliance, mitigate risks, enhance user experience, and streamline workflows. These solutions are essential for modern enterprises seeking to protect sensitive data and maintain a robust security posture.
North America is forecasted to hold the largest market size by region in 2024
In today's business landscape, effective Customer Identity and Access Management (IAM) is crucial for safeguarding digital assets and ensuring regulatory compliance. IAM solutions enable organizations to manage user identities, grant access privileges, and monitor user behavior. By implementing IAM best practices, businesses can mitigate risks, enhance security, and improve operational efficiency. IAM market trends include cloud-based solutions, multi-factor authentication, and biometric authentication for added security.
The Customer Identity And Access Management (Iam) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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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 (CIAM) market is experiencing significant growth due to the increasing adoption of hybrid cloud technologies in various industries such as utilities, transportation, energy, education, logistics, manufacturing, and healthcare. With the rise of cyber regulations, organizations are prioritizing access management to ensure compliance and protect against cybercrime and fraudulent activities. Vendors of identity offer CIAM technologies that cater to the unique needs of different sectors. These solutions include Single Sign-On (SSO), provisioning, directory services, and compliance audit. Hybrid deployment models, including on-premise, hybrid, and cloud deployment, are popular choices for businesses undergoing expansions. CIAM technologies are essential for managing access to business technologies, IT infrastructure, and smart devices in industries like utilities, transportation, and manufacturing. Social login and SSO capabilities streamline the user experience, while capabilities like automation, artificial intelligence, and the Internet of Things enhance security. Privacy measures, such as data encryption and secure authentication, are crucial components of CIAM systems. Skilled cybersecurity professionals are needed to implement these measures and protect against cyberattacks, identity theft, and fraud. The integration of CIAM systems with mobile security and healthcare applications further expands their reach and importance in today's digital landscape.
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