Identity and Access Management Market to grow at a CAGR of 13.04% during 2024-2028
The Identity and Access Management Market is expected to grow at a CAGR of 13.04% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 14.80 billion. In today's business landscape, the adoption of Bring Your Own Device (BYOD) policies has become a norm for organizations, enabling employees to utilize their personal smartphones, tablets, and laptops for professional tasks. This shift towards mobility has led to a significant increase in the usage of mobile devices as primary tools for work. Small and medium enterprises (SMEs) have particularly benefited from this trend, as it allows them to enhance productivity and efficiency by enabling their workforce to access organizational data and resources from anywhere, at any time. The enterprise IT departments support this mobility by ensuring constant connectivity and security, making remote work a seamless experience for employees. The growing popularity of BYOD policies is transforming the way businesses operate, making workplaces more agile and efficient.
Get more information on Identity and Access Management Market by requesting a sample report
Technavio analysts predict that the Large enterprises subsegment will lead the End-user segment during 2024 and 2028 The implementation of Identity and Access Management (IAM) solutions is anticipated to surge among large enterprises due to its substantial benefits. IAM offers enhanced performance, affordability, enterprise-level scalability, and streamlined management of sensitive information such as documents, passwords, and digital identities. Furthermore, it enables effective identity management for both internal and external entities, mitigating cyber risks and ensuring regulatory compliance. Large enterprises are increasingly recognizing the value of IAM in managing a vast array of identities and securing their digital ecosystems. IBM and GEP are prominent providers in the procurement services sector, offering distinct solutions. IBM's offerings encompass order management, content sourcing, and spot purchase management. Conversely, GEP specializes in spend analysis, category management, strategic sourcing, and tail spend management. These specialized services cater to the unique requirements of large enterprises, bolstering their procurement capabilities and driving operational efficiency.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish increase in data thefts globally
Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report
The Identity and Access Management (IAM) market is a critical component of modern digital businesses, enabling organizations to manage user access to digital platforms and ensure regulatory compliance. IAM solutions help in automating identity and access provisioning, password management, and single sign-on, reducing installation and production costs. Advanced IAM solutions offer identity analytics for detecting policy violations, inactive accounts, and access privileges. Regulatory compliance management is a key feature, ensuring adherence to industry standards and preventing data breaches and digital identity fraud. Biometric solutions and multifactor authentication add an extra layer of security, while user verification and identity modifications help maintain accurate and up-to-date digital identities. IAM solutions also offer audit and compliance & governance features, providing valuable insights into access patterns and potential threats. Cloud-based IAM services offer cost-effective and flexible deployment options, making it easier for businesses of all sizes to implement robust IAM solutions. Overall, IAM solutions are essential for managing access, ensuring regulatory compliance, and protecting against digital threats.
The Identity and Access Management (IAM) market is a significant segment of the global IT software market, specifically the systems software sector. According to Technavio, the global IT software market encompasses organizations involved in the development and production of various software types, including application and systems software, database management software, and IT management software. The systems software market size is determined by the consolidated revenue generated by companies offering application development and management software, cloud computing software, data center and hosting software, mobility software, networking software, security software, and storage software, excluding those engaged in home entertainment software production. Technavio's analysis of the global IAM market size is derived from the combined revenues of companies specializing in identity and access management solutions.
The Identity and Access Management Market is experiencing significant growth, fueled by the increase in data thefts globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
