Identity and Access Management Market

Identity and Access Management Market Soars: Size and Share Drive Growth

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
  • Growing Regulatory Compliance Needs
  • Shift to Cloud-Based Applications and Infrastructure
  • Evolving Workforce Landscape
  • Focus on User Experience
  • Integration with the Internet of Things (IoT)
  • Mergers and Acquisitions

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.

  • Microsoft
  • Okta
  • IBM
  • Oracle
  • Salesforce
  • Ping Identity
  • HID Global

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)

  • Market Share: Microsoft is a leading player in the IAM market, particularly strong in cloud-based solutions due to its Azure Active Directory (now Microsoft Entra ID).
  • Key Offerings: Azure Active Directory, Microsoft Entra ID, multi-factor authentication, and identity governance.

Okta (US)

  • Market Share: Okta is a prominent player known for its focus on identity management and strong market presence in workforce and customer IAM.
  • Key Offerings: Okta Identity Cloud, Single Sign-On (SSO), Multi-Factor Authentication (MFA), and Lifecycle Management.

IBM (US)

  • Market Share: IBM holds a significant share in the IAM market, leveraging its extensive experience in enterprise solutions and cloud services.
  • Key Offerings: IBM Security Identity Governance and Intelligence, IBM Cloud Identity, multi-factor authentication, and identity analytics.

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)

  • Market Share: Salesforce has a growing presence in the IAM market, especially with its integration capabilities within its CRM solutions. \
  • Key Offerings: Salesforce Identity, which includes SSO, MFA, and identity for customers and workforce.

Ping Identity (US)

  • Market Share: Ping Identity is known for its strong IAM solutions tailored to enterprise needs, particularly in secure access management.
  • Key Offerings: PingOne Cloud Platform, PingID for MFA, PingFederate for SSO, and PingAccess for secure application access.

HID Global (US)

  • Market Share: HID Global has a notable presence in physical and logical access control markets, providing comprehensive IAM solutions.
  • Key Offerings: HID Identity and Access Management solutions, including biometric authentication, credential management, and secure access control systems.

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

Identity and Access Management Market Size,  Share & Growth Report
Report Code
TC 3138
RI Published ON
6/18/2024
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