Published Date: Oct 2019 | Report ID: GMI176 | Authors: Ankita Bhutani, Preeti Wadhwani



Report Format: PDF | Pages: 245 | Base Year: 2018

Industry Trends

Identity and Access Management (IAM) Market size exceeded USD 10 billion in 2018 and is estimated to grow at over 10% CAGR between 2019 and 2025.



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Identity and Access Management (IAM) ensures that only rightfully authorized employees get access to the right resources across a highly heterogenous technological environment. It is a solution that manages access to enterprise resources. It predominantly ensures employees, partners, and customers to obtain simple & secure access to required applications. IAM systems are used by enterprises to securely initiate, store, and manage user identities and access authorizations. It provides the flexibility that enterprises require to accommodate the latest technologies and trends, extending their businesses outside the traditional perimeter.



Growing digitalization and the emergence of advanced technologies marked the development and adoption of identity and access management systems in early 2000s. IAM was highly focused on establishing capabilities for supporting access-based compliances and management requirements. These solutions were expensive and were restricted to employee identity management. These solutions evolved to reduce costs, risks, and enhance operational efficiency of organizations.



Identity and access management market growth is attributed to the increasing risks of data exposure, data loss, data leakage, insider attacks, and insecure usage. These cyber-attacks are fueled by the rapid adoption of emerging technologies such as cloud-based services, Internet of Things (IoT), and Bring Your Own Devices (BYOD) across organizations. Governments across the globe are deploying stringent regulations to secure digital identities of users and restrain unauthorized access. This will improve security effectiveness, curb insider attacks, and enhance operational efficiency of enterprises and government organizations. For instance, in May 2018, the European Union implemented General Data Protection Regulation (GDPR) to protect critical personal information.



Identity and Access Management (IAM) Market Report Coverage Report Coverage Details Base Year: 2018 Market Size in 2018: USD 10 Billion Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025 Forecast Period 2019 to 2025 CAGR: 10% 2025 Value Projection: USD 20 Billion Pages: 245 Tables, Charts & Figures: 269 Geographies covered (19): U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Australia & New Zealand (ANZ), Singapore, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa Segments covered: Solution, Deployment Model, Application and Region Companies covered (20): SailPoint Technologies Holdings, Inc., Centrify Corporation, Dell Inc., IBM Corporation, Microsoft Corporation, ForgeRock, CA Technologies, Crossmatch, Gemalto, iWelcome, Okta, Inc., Oracle, Ping Identity, and Symantec Corporation Growth Drivers: Substantial growth in data breaches, identity theft and hacking incidents among organizations

Enhanced prominence of compliance management

Rising demand for mobility and remote workforce IAM

Increasing adoption of connected technology including IoT, cloud computing and BYOD

Challenges related to employee on-boarding and off-boarding Pitfalls & Challenges: Lack of knowledge about IAM solutions

Independent processes throughout the organization

Higher reliance on users to protect their ID and password

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Rising demand for mobility and remote workforce IAM

Enterprise mobility is the growing trend of organizations that allows its employees to work from remote locations. Organizations that go mobile benefit from enhanced productivity, less absenteeism, flexibility, reduced operational costs, enhanced technology utilization, better communication, and an encouraging work environment. These parameters lead to the long-term development of the firm, resulting in increased revenue and profits. Growth of enterprise mobility also means that the IT team has reduced visibility and control over the daily work practices of employees. Therefore, the adoption of centrally management comprehensive IAM solutions will assist the company in getting the required visibility and control over a distributed workforce.



Safeguard of critical IT infrastructure for business growth

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Enterprises across various end-use sectors are investing in identity and access management solutions to safeguard their critical IT infrastructure, hindering financial losses and maintaining brand reputation. For instance, in 2018, enterprises invested more in IT security and the worldwide enterprise security spending accounted for USD 96.3 billion, a growth of approximately 8 percent from 2017. There has been a tremendous shift in the IT infrastructure and its functioning due to the advent of digitalization and technological advancements, Organizations have an expanded divisional range due to the increasing mergers & acquisitions or geographic separations, resulting in varied access management processes and teams. Integrating these varied processes is a costly, time-consuming, and risky task and will act as a barrier to market growth. There is always a threat of making errors while providing access rights to individuals working in enterprises.



Cloud deployment model set to grow at over 16% CAGR

The cloud-based identity & access management market is anticipated to grow at a CAGR of more than 16% over the forecast timeline due to its several benefits, such as economies of scale, no hardware deployment, reduced costs, and simplified management. Market players operating in the identity and access management (IAM) market are focusing on strategic alliances to secure data, identity, and authentication in the growing hybrid environment. For instance, in June 2018, Ping Identity acquired Elastic Beam. This acquisition offered the company the ability to identify and restrict cyberattacks, thereby developing a security API infrastructure in the hybrid environment.



Growing importance of IAM solutions in the BFSI sector

Growing digitization across the BFSI sector is propelling a rapid adoption of IAM solutions due to hefty financial losses caused by identity frauds, unauthorized access, and malicious cyber-attacks. About 90% of financial institutions are affected by data breaches, out of which 60% are cases of identity abuse. This requires financial institutions to ensure secured authentication for protecting their critical IT infrastructure. Financial institutions are focusing on enhancing their IT security capabilities to mitigate identity theft risks and unauthorized access.



IT firms offering IT solutions & services to financial organizations are enhancing their IT security capabilities through strategic alliances. For instance, in March 2019, NSEIT, a wholly owned subsidiary of the National Stock Exchange acquired Aujas Network (Aujas) that specializes in cybersecurity for an undisclosed sum. This acquisition will help NSEIT to cater to the growing needs of security vulnerability, CMS, and identity & access management for organizations operating in financial markets, capital markets, banking, and insurance.



Huge data center investments in Asia Pacific

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The Asia Pacific identity and access management market is estimated to register a growth at over 15% CAGR from 2019 to 2025 due to the growing digitization across enterprises and rapid adoption of emerging technologies such as IoT and cloud computing. Increasing trend of BYOD among organizations operating in the region is propelling the market growth.



Stringent regulations implemented by governments across Asia Pacific region are strengthening the country’s security base, maintaining economic stability. For instance, in December 2018, the Japanese government issued a draft outline of its cyber security strategy for the next three years, focusing on improving cyber security in private sectors. The new strategy encourages industry leaders to invest more in the security for business operations, risk management, and innovations.



Strategic alliances remain key growth strategies

Market players in the IAM market are focusing on strategic alliances to enhance their IT security efficiency and effectiveness. For instance, in May 2018, Symantec acquired Javelin Networks, an advanced software company offering capabilities to defend firms against active directory-based cyberattacks. This acquisition will strengthen the company’s security portfolio and cater to the growing customer needs for optimized cybersecurity environments at reduced costs.



Prominent companies operating in the market include SailPoint Technologies Holdings, Inc., Centrify Corporation, Dell Inc., IBM Corporation, Microsoft Corporation, ForgeRock, CA Technologies, Crossmatch, Gemalto, iWelcome, Okta, Inc., Oracle, Ping Identity, and Symantec Corporation.



The identity and access management market research report include an in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2014 to 2025 for the following segments:

By Solution

Provisioning

Password Management

Directory Services

Advanced Authentication

Single Sign-On

Audit, Compliance & Governance

By Deployment Model

On-premise

Cloud

By Application

BFSI

IT & Telecom

Public Sector and Utilities

Healthcare

Education

Manufacturing

Retail

Others

The above information has been provided for the following regions and countries :

North America U.S. Canada

Europe UK Germany France Italy Spain

APAC China Japan ANZ South Korea India Singapore

Latin America Brazil Mexico Argentina

MEA Saudi Arabia UAE South Africa



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