by The global Identity And Access Management Market is estimated to be valued at US$ 15.7 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Identity and Access Management solutions provide centralized management of digital identities and access privileges. It enables enterprises to securely manage and govern access to critical applications, data, and IT resources across hybrid IT environments.
Market key trends:
One of the key trends in the Identity And Access Management market is the increasing demand for multi-factor authentication. With rising security threats, organizations are adopting stronger authentication methods that require more than one verification factor to access sensitive information. Multi-factor authentication provides an additional layer of security by combining two or more verification factors such as something one knows (password), something one has (smart card, token), or something one is (biometric). This makes unauthorized access more difficult and helps organizations securely validate user identities.
SWOT Analysis
Strength: Identity and Access Management solutions help organizations streamline access management and authorization processes by centralizing identity data. They provide increased security, visibility, and control over user identities and access.
Weakness: High upfront costs associated with implementation and maintenance of IAM solutions. Regular upgrades are also required to keep systems secure.
Opportunity: Growth in cloud computing and mobility is driving the need for robust IAM systems to securely manage identities and access across different platforms. Rising cybersecurity threats is also propelling the adoption of advanced IAM.
Threats: Concerns around data privacy and security breaches can negatively impact market growth. Lack of IT skills and expertise to implement and support IAM solutions poses a challenge.
Key Takeaways
The global Identity And Access Management Market Size is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing demand for centralized identity management solutions across enterprises. The market size is projected to reach US$ 35.2 billion by 2030 from US$ 15.7 billion in 2023.
Regional analysis:
North America currently dominates the global IAM market due to stringent data privacy regulations and rising adoption of cloud-based IAM systems among organizations in the US and Canada. Asia Pacific is anticipated to be the fastest growing region owing to growth in IT infrastructure, rising digital transformation initiatives, and increasing cloud adoption in countries such as China, India, and Japan.
Key players operating in the Identity And Access Management market include Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity (US), HID Global (US), ForgeRock (US), CyberArk (US), Micro Focus (US), Thales (France), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US), SAP (Germany), Simeio (Georgia), One Identity (US), FusionAuth (US), Auth0 (US), IDnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US), Beyond Identity (US), Akamai (US), Delinea (US), Optimal IdM (US), Netwrix (US), Zoho Vault (US), Transmit Security (US).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
