IBM (US) and Salesforce (US) are Leading Players in the Identity and Access Management Market
The global IAM market size is projected to grow from USD 12.3 billion in 2020 to USD 24.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. The increasing venture capital funding and growing investments in IAM technology to drive the market growth.
Major vendors covered in the IAM market report include IBM (US), Microsoft (US), Salesforce (US), Oracle (US), Broadcom (US), Okta (US), Ping Identity (US), ForgeRock (US), HID Global (US), Ubisecure (London), OneLogin (US), CyberArk (US), SAP (Germany), AWS (US), SailPoint Technologies (US), RSA (US), Saviynt (US), Avatier (US), SecureAuth Corporation (US), ManageEngine (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 2017 to 2020 to innovate their offerings and broaden their customer base.
IBM (US) is a prominent provider of IAM solutions. The company provides a large number of authentication options and are equipped with multiprotocol federation capabilities. It also offers robust user authentication, which helps protect user identities from web security threats. In June 2020, IBM collaborated with Wipro. Through this alliance, Wipro will develop hybrid cloud offerings to help businesses migrate, manage, and transform mission-critical workloads and applications, with security across public or private cloud and on-premises IT environments. IBM caters its solutions to various industries, including IT, healthcare, life sciences, government, telecom, automobile, manufacturing, Fast-Moving Consumer Goods (FMCG), chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, BFSI, travel and transportation, and education. The company has a global presence across North America, Europe, Asia Pacific (APAC), MEA, and Latin America.
Salesforce (US) is another top player in the IAM market. The company provides Salesforce Identity, a cloud-based consumer IAM solution that connects users with external applications and services while providing administrative tools for monitoring, maintaining, and reporting user apps and user authorization. In May 2020, Salesforce partnered with Workday, and now businesses can synchronize critical worker data to foster collaboration, drive smart decisions quickly, and communicate to their workers more effectively. The company provides its platform and services to SMEs and large enterprises across different industries, including BFSI, IT and telecom, and government.
Related Reports:
Identity and Access Management Market by Component (Solutions and Services), Solutions (Data Storage, Identity Lifecycle Management, Authentication, and Verification), Organization Size, Deployment Mode, Vertical, and Region - Global Forecast to 2025
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