The global identity and access management market size is likely to reach USD 24.55 billion by 2022, according to a report by Grand View Research, Inc. It is expected to exhibit a 13.7% CAGR from 2015 to 2022. Strict regulatory compliance and increased budgets by government organizations and large-scale enterprises can augur market growth. Rise of web applications, emphasis on risk management, and cost containment are factors expected to drive market volume. In addition, popularity of Bring Your Own Devices (BYOD) and Internet of Things (IoT) can positively impact the market.
Continuous innovation in technologies have led to developers building solutions such as secure print authentication and access to electric vehicle (EV) charging access. The market can experience an uptick in demand owing to application in sectors such as healthcare, education, manufacturing, etc. Cloud and hybrid solutions are expected to have an impact in the market owing to negligible error rate and advanced security features. Wide availability of IAM options and demand for solutions to preserve and protect data of individuals can lead to its implementation by large-scale enterprises.
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Further key findings from the report suggest:
Cloud-based identity and access management marketis expected to witness robust demandby 2022, growing at a CAGR of over 18% from 2015 to 2022. Cloud is changing the way a business operates, driven by economies of scale and cost- effectiveness. Cloudis expected to redefine the traditional IT security landscape and gain maximum share of on-premise solutions by blending cloud technology in the IAM landscape. Rising demand for cloud-SSO is also a key factor supporting expansive adoption among enterprises.
Public sector and utilities sector accounted for over 25% of the revenue in 2014 and is anticipated to exhibit significant growth over the next seven years. Notable trends such as economic growth, industrial transformation, and demographic changes need to be mastered by matching infrastructure and effective administration, thus driving demand.
North Americaidentity and access management market dominated demand in 2014, and is expected to account for over 34% of the overall share by 2022.Many federal agencies across the U.S. require employees to use a hardware-based personal identification verification card or an alternative form of strong authentication while accessing government IT infrastructure and networks. Various federal government agencies such as department of the interior, transportation and veteran affairs are implementing strong authentication measures which are estimated to drive demand across this region.
Identity and access management market share is occupied by companies such as IBM, NetIQ Corporation, Oracle, CA Technologies and HID Global Corporation. Companies operating across cloud platforms are offering complete on-demand development tools and environment such as cloud database and cloud infrastructure layer which is enabling enterprise IT groups to test, develop and deliver customer on-demand business applications without investing in traditional system infrastructure or software.
Grand View Research has segmented the Identity and Access Management (IAM) market on the basis ofdeployment, end-use and region:
IAM Deployment Outlook (Revenue, USD Million, 2012 - 2022)
IAM End-Use Outlook (Revenue, USD Million, 2012 - 2022)
Energy, Oil & Gas
Telecom & IT
Public Sector & Utilities
IAM Regional Outlook (Revenue, USD Million, 2012 - 2022)
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