Identity and Access Management Market to grow at 10% CAGR till 2025

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Global Identity and Access Management Market
Worth Over 20 bn by 2025 Global Market Insights
Inc.
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Industry Overview

• Identity and Access Management (IAM) Market
  driven by Increasing adoption of connected
  technology including IoT, cloud computing and
  BYOD in the world to surpass USD 20 billion by
  2025 and will witness 10 CAGR over 2025.
• Due to the growing need to curb the increasing
  identity theft, firms are investing funds and
  focusing on strategic alliances to improve their
  security portfolio. For instance, in June 2018,
  Ping Identity entered into a strategic
  partnership with SailPoint Technologies to
  provide secured access to various on-premise and
  hybrid IT applications. This partnership will
  enable the companies to deliver simplified
  identity access and governance solutions to
  various enterprises, providing secured access to
  the right people.

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• Some major findings of the Identity and Access
  Management (IAM) market report include
• The demand for IAM solutions is increasing due to
  the growing trend of BYOD, need for enhanced
  productivity, and reduced hardware costs for
  organizations.
• IAM solutions offer enhanced productivity and
  improve employee satisfaction
• Public-private partnership in developing
  countries is strengthening data identity
  security at a reduced cost
• Major players operating in the bike-sharing
  market are IBM Corporation, Oracle Corporation,
  CA Technologies, Symantec Corporation, etc.
• The rapid increase in cybercrime, proliferation
  of smartphones, substantial development in
  industrial sectors, and the rising adoption of
  BYOD are the prominent factors contributing to
  the burgeoning demand for IAM solutions in the
  Asia Pacific region
• Rapid digitalization coupled with sustainable
  economic development in Latin America and MEA is
  propelling market growth

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• The growing demand for connected workplaces
  across several end-use sectors to enhance
  productivity and improve employee satisfaction is
  proliferating market growth. For instance, in May
  2018, Okta entered into a cloud identity
  partnership with VMware, an enterprise cloud
  infrastructure workplace software provider.
  Okta identity cloud solutions will be integrated
  with VMware Workplace ONE to facilitate secure
  cloud migration. This will help to mitigate
  issues surrounding IAM security on the cloud,
  benefiting organizations through connected
  workplace and enhanced productivity.

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• The public sector and utilities held over 23 of
  the market share in 2018 due to the rapid
  increase in cyberattacks and digital
  transformations such as cloud computing,
  real-time data access to customers, and automated
  infrastructures. The utility sector also needs to
  protect its power generation, transmission, and
  circulation by controlling physical and logical
  access to its resources including equipment,
  buildings, IT, and operational technology. It
  also needs to authenticate authorization of
  individuals to devices, providing access rights
  with an enhanced degree of certainty. It needs to
  enforce access policies uniformly, consistently,
  and quickly across all resources, increasing the
  adoption of IAM solutions. The integration of
  logical and physical security identity
  authentication parameters has resulted in
  protecting both the persons physical identity
  credentials and digital identity from data loss
  or potential fraud.

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• The Latin American IAM market is estimated to
  grow at more than 13 CAGR over the forecast
  timeline. Due to the increasing connectivity in
  personal, urban, and corporate environments, the
  dependence on technology and associated
  vulnerabilities has increased in this region,
  giving rise to cyberthreats. Over the last
  decade, this region has witnessed huge
  digitalization with an enhanced adoption of big
  data, cloud computing, and IoT solutions,
  accelerating the market demand.
• The growing adoption of cloud based IAM has
  created huge opportunities for companies
  operating in the market. For instance, in July
  2018, Okta, Inc. entered into a strategic
  partnership with Bitglass aimed at bringing
  real-time threat and data protection to companies
  moving to the cloud. This partnership will fuel
  the companys cloud customer base, providing its
  customers with a secure way of conducting
  business with ease and agility.

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