Identity and Access Management Market Size, Growth, Opportunities, and Industry Forecast to 2022

Market Highlights

Improving consumer experience and organizational workflow are presently of utmost importance. Identity access management (IAM) framework is one such system that by preserving personal information provides access to people based on that database. On the other hand, scenarios dealing with consumers can be enhanced by extending a customized service for people based on their earlier experiences. The development of identity access management system is on a fast track. The worldwide identity access management system market can anticipate an impressive 16% CAGR to attain a worth of USD 24 bn throughout the forecast tenure (2016-2022). Market Research Future (MRFR), while studying the identity access management system market patterns, took into account drivers that can turn beneficial and conducted an in-depth research on segments. The report puts forth a reliable prediction.

The increased pace of adoption by large enterprises, rising automation penetration throughout sectors, spurring demand for security services, and research & development related investments, are facilitating safe movement towards the development of the identity access management system market. On the contrary, scarcity of skilled labors, along with spiking implementational cost could happen to be a market deterrent. This could restrict the smooth flow throughout the estimation period which the identity access management system is cherishing for so long. Additionally, the breakthrough innovative approaches, new product launch, and instances of merger and acquisition, significantly influence the identity access management system market. For instance, ILANTUS Technologies declared the launch of their line of services during July 2018. It has been termed as Smart Identity which encompasses four aspects namely niche identity, cloud identity, hybrid identity, and compact identity. Digital ID can evolve as the current trend with blockchain stepping into the scene. Decentralized blockchain principle, along with an exhaustive system for confirming identity can give rise to a digital ID which acts like a watermark for the customer.

IAM can help to customize the user experience based on the record of previous experiences. Growing penetration of automation across enterprises and high adoption rate of IAM among large enterprises has catalyzed the growth of the market.  IT managers across various organizations are progressively adoption IAM to safeguard their information critical to the organization from reaching malicious sources. The market expansion is further propelled by rising cloud adoption and the trend of BYOD which exposes businesses to the threat of data breach. Moreover, with various players vying for superiority over the market, the market has witnessed several strategic moves by players which include M&A, new product launches, acquisition, and others which can boost the growth of the market over the forecast period.

Conversely, the growth of the market might be hindered by high implementational cost and the lack of technical knowledge.

Segmentation:

The global identity and access management market has been segmented based on deployment, organization, and vertical.

By deployment, the identity and access management system market has been segmented into on-cloud and on-premise. The on-cloud segment has been further segmented into public, private, and hybrid.

By organization size, the identity and access management system market has been segmented into small & medium enterprises and large enterprises. 

By vertical, the identity and access management system market has been segmented into banking, financial services, and insurance (BFSI), manufacturing, IT & Telecommunication, government, healthcare, and others.

Regional Analysis

Geographic study of the identity access management system market includes regions like Europe, North America, Asia Pacific (APAC), and the Rest-of-the-World (RoW). North America held the largest market share within the IAM systems market. The region is extensively boosted by technological progressions and improved infrastructure. Moreover, different worldwide players are based out of the North America market which aids in fetching significant market profits. Europe represents the second largest market on account of similar reasons, and both markets observe an extensive investment in R & D. In U.K. the banking and financial services vertical is expanding which is also driving the regional market considerably. The APAC, with the prevalence of developing economies such as China and India, can register the fastest growth rate throughout the estimation period. Presence of manufacturing and semiconductor industry in South Korea, Taiwan, and China, can boost the market to a large extent.

Key Players

The IAM systems market is ruled by international players competing for market control. This has surged strategic integrations such as acquisitions, mergers, new launches, and others. For instance, Broadcom acquired CA Technologies and Amazon has acquired firms like Thinkbox Software, Elemental Technologies, Do.com and others. The renowned players in the identity & access management market include Amazon Web Services (U.S.), F5 Networks (U.S.), IBM (U.S.), HP (U.S.), Oracle Corporation (U.S.), Microsoft Inc. (U.S.), Dell Inc. (U.S.), Siemens AG (Germany), ForgeRock Inc. (U.S.), CA Technologies (U.S.), and others.