The size of the worldwide identity and access management market is expected to increase at a compound annual growth rate (CAGR) of 8.4% from USD 22.9 billion in 2024 to USD 34.3 billion by 2029.At a compound annual growth rate (CAGR) of 8.4%
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The Identity and Access Management (IAM) market is flourishing due to a confluence of factors that necessitate robust access control and data security:
Increasing Security Threats: The ever-evolving landscape of cyber threats, including malware, phishing attacks, and data breaches, compels organizations to invest in robust IAM solutions to safeguard sensitive data and resources
Growing Regulatory Compliance Needs: Stringent data privacy regulations like GDPR and CCPA mandate strong IAM practices to ensure user data is protected and access is controlled. This drives market growth as businesses strive to comply
Shift to Cloud-Based Applications and Infrastructure: The widespread adoption of cloud computing necessitates cloud-based IAM solutions for managing access to cloud resources and data. Traditional on-premise IAM solutions struggle to keep pace with the scalability and flexibility demanded by cloud environments
Evolving Workforce Landscape: The rise of remote work, BYOD (Bring Your Own Device) policies, and the increasing number of privileged users necessitate granular access controls and identity management across diverse locations and devices
Focus on User Experience: Modern IAM solutions prioritize user-friendly interfaces and streamlined login processes. This not only improves user adoption but also minimizes the risk of employees resorting to workarounds that could compromise security
Integration with the Internet of Things (IoT): The burgeoning number of interconnected devices within the Internet of Things (IoT) necessitates robust IAM solutions to manage their identities and access securely. As the number of connected devices explodes, the demand for secure IAM solutions grows proportionally
Mergers and Acquisitions:
The increasing frequency of mergers and acquisitions creates complex identity management challenges. IAM solutions play a crucial role in integrating user identities and access controls across different organizations [6].
These growth factors highlight the critical role IAM plays in securing data and resources in today's dynamic digital environment. As security threats become more sophisticated and regulations evolve, the demand for robust IAM solutions will continue to propel market growth.
Here's a summary of the market share and key offerings for the selected companies in the Identity and Access Management (IAM) market:
Microsoft (US)
Okta (US)
IBM (US)
Oracle (US)
Market Share: Oracle is a key player, especially in cloud IAM solutions, integrating with its extensive suite of enterprise applications.
Key Offerings: Oracle Identity Management, Oracle Cloud Infrastructure Identity and Access Management, and advanced access control solutions.
Salesforce (US)
Ping Identity (US)
HID Global (US)
Related Reports:
Identity and Access Management Market by Type, Offerings, Solution, Service, Deployment Mode, Verticals (BFSI, Travel & Hospitality, Healthcare, Retail & E-Commerce, Education, IT & ITES, Government & Defense) & Region - Global Forecast to 2029
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