Ping Identity (US) and Okta (US) are leading players in Identity and Access Management Market
The global IAM market size is expected to grow from USD 13.4 billion in 2022 to USD 25.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2022 to 2027. Workforce IAM focuses on governing data and system access rights for an employee base. Consumer IAM enables organizations to securely capture and manage customer identity and profile data, as well as control customer access to applications and services. In the IoT world, identity management can identify devices, sensors, monitors, and manage their access to sensitive and non-sensitive data.
Microsoft (US), IBM (US), Oracle (US), Broadcom (US), Salesforce (US), Ping Identity (US), Okta (US), HID Global (US), ForgeRock (US), CyberArk (US), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US), SAP (Germany), Simeio (Georgia), OneIdentity (US), FusionAuth (US), Auth0 (US), IDnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US), Beyond Identity (US).
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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their presence in the IAM market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2022 to innovate their offerings and broaden their customer base.
Ping Identity is a pioneer in providing IAM solutions. The company offers the Ping Identity Platform, a scalable platform that helps companies provide their customers unified and secure access to multiple applications and services along with a reliable multichannel experience. The platform is equipped with features including secure SSO, MFA, access security, data governance, directory, and social login support. The multiple features-equipped platforms enhance business productivity and enrich the consumer experience for enterprises. Ping Identity is now focusing on the development of IAM for the IoT that will help in shifting from traditional employee identity management to customer identity management. Securing identity data for IoT environments is complex. Therefore, security should be the foundational component of the IAM infrastructure. Ping Identity caters to SMEs and large industries across industry verticals, including healthcare, education, retail, BFSI, healthcare, government, and manufacturing. The company’s customer base is present in different geographies, including North America, Europe, APAC, MEA, and Latin America.
Okta is one of the key providers of security solutions that protect the connections between people and technology. The company offers a wide range of product portfolios such as SSO, MFA, Lifecycle Management, Access Gateway, User Management, and API Access Management. In the IAM market, it offers Okta Customer Identity, an identity service that enables centralized management, frictionless experience, speed-to-market, and internet-scale security. It is secure, developer-friendly, and with minimal custom code. Some of its capabilities are integrating multiple apps, adding account takeover protection, modernizing, and building a platform. Okta offers its solutions to SMEs and large enterprises across industry verticals, including government, BFSI, IT, education, life sciences, manufacturing, media and entertainment, retail, and transportation. The company has a large customer base across North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America.
Related Reports:
Identity and Access Management Market with COVID-19 Analysis, by Component (Solutions, Services), Solution (Data Directory, Identity Lifecycle Management), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027
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