Pune, Jan. 03, 2020 (GLOBE NEWSWIRE) -- The global identity and access management (IAM) market size is projected to reach USD 24,757.8 million by the end of 2026. The market will derive growth from the growing incorporation of advanced concepts such as the IoT and predictive analysis in products and services across the world. According to a report published by Fortune Business Insights™, titled “Identity and Access Management Market Size, Share and Industry Analysis by Component (Provisioning, Directory Services, Single Sign-On, Others), By Deployment Model (Cloud, On-Premises), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, IT and Telecom, Retail and Consumer Packed Goods, Others) And Regional Forecast 2019-2026,” the market was worth USD 9,526.0 million in 2018. Driven by exceptional product applications, the market will exhibit a CAGR of 13.17% during the forecast period.
Identity and access management (IAM) consists of a framework of technologies as well as regulations that are used to manage identities. The growing IT industries and corporate offices have created a massive demand for efficient identity management solution that can be used to access, edit, ad differentiate several identities at the same time. The growing incorporation of advanced technologies has yielded several product innovations in recent years. Technological interventions have allowed improved software and optimum efficacy. The demand for identity and access management systems is not just limited to corporate offices but it can extend to other major domains as well. This software not only keep track of identities of employees, but also help an organization work within the framework and policies set by governments across the world.
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The report encompasses several factors that have contributed to the growth of the identity and access management (IAM) market in recent years. Besides growth stimulators, it discusses a few of the factors that have restrained market growth. The report highlights a few of the leading products, major companies, and major industry developments of recent times. Leading companies have been highlighted in the report and predictions have been made with respect to ongoing activities and latest strategies adopted by major companies. Forecast values for the market have been provided in the report for the period of 2019-2026. Additionally, the report identifies areas that have witnessed the highest demand and applications for the product in recent years.
Increasing Product Benefits and Widespread Applications to Aid Growth
Advanced IAM solutions have offered several benefits for corporate offices, manufacturing units, and other industrial units. IAM services help companies work in accordance to the updates in framework. They also help deal with cyber breaches and theft. This, in turn, will help save money as well as time. The ability of IAM solutions to reduce login process complexities will fuel the demand for the product across the world. Besides reducing complexity, IAM services bring about a transparency in operations. Other benefits of IAM include password management, directory services, and authentication management. The ability of IAM solutions to enhance the overall work management will fuel the demand for the product, subsequently aiding market growth.
Amazon Web Services Inc., IBM Corporation, and Microsoft Hold a Major Market Share
The IAM market has witnessed a healthy market competition in recent years. Accounting to the massive potential held by the IAM market across numerous industrial domains, companies are investing more in this sector. The increasing investment in the research and development of newer and improved IAM products will emerge in favor of market growth. More companies are focusing on upgrading their strategies and bettering their portfolios, with a view to establishing a stronghold in the market. Leading companies such as Amazon, IBM, Microsoft, and Oracle have emerged as the leading companies in the market.
A few of the other companies that are currently operating in the market include:
- Siemens AG
- ForgeRock
- Gemalto
- Avatier
- Symantec
- Beta Systems
- CA Technologies
- Centrify
- Cyberark
- Core Security
- Crossmatch
- Fischer Identity
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology and Assumptions
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- 4.1. Macro and Micro Economic Factors
- 4.2. Key Technological Developments
- 4.3. Industry SWOT Analysis
- Global Identity and Access Management Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Provisioning
- Directory Services
- Single Sign-On
- Password Management
- Advanced Authentication
- Audit, Compliance, and Governance
- Market Analysis, Insights and Forecast – By Deployment
- Cloud
- On-Premises
- Market Analysis, Insights and Forecast – By Organization Size
- Small and Medium Enterprises (SMES)
- Large Enterprises
- Market Analysis, Insights and Forecast – By Vertical
- BFSI
- IT and Telecom
- Retail and Consumer Packaged Goods
- Government
- Energy and Utilities
- Education
- Manufacturing
- Healthcare and Life Sciences
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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