What is the key market trend for Global Identity and Access Management (IAM) Market?

Use of Artificial Intelligence and Machine Learning: Edge security vendors can focus on developing new solutions that have improved threat detection by utilizing AI and ML. Companies can analyze threats in real-time and evolve the edge security solution at the same time by using the technologies.

Global Identity and Access Management (IAM) Market Size, Share, Growth Analysis, By Component(Audit, Compliance & Governance), By Deployment(Cloud, Hybrid), By Industry Vertical(BFSI, Energy) - Industry Forecast 2024-2031

Report ID: SQMIG45B2126 | Region: Global | Published Date: May, 2024
Pages: 157 | Tables: 100 | Figures: 71

Global Identity and Access Management (IAM) Market Dynamics

Drivers

Rising Incidence of Cyberattacks

The threat landscape is continuously evolving, and this has resulted in a high prevalence of data breaches and cyberattacks around the world. Identity and access management (IAM) solutions help fend off cyberattacks and improve the security of organization’s data, which is why their adoption is projected to increase in the future.

Growing Mobile Workforce and High Use of Cloud Platforms

Increasing number of remote workers around the world has also increased the risk of cyberattacks and data breaches on a cloud platform. Identity and access management (IAM) solutions help manage mobile workforce and safeguard cloud platforms from any data breaches.

Restraints

Complex Deployment and Integration

Deploying and integrating identity and access management (IAM) solutions with IT infrastructure could be a very challenging task as they have various security tools and authentication measures. This complexity could hinder the adoption of identity and access management (IAM) in the long run.

Consent Management

Identity and access management (IAM) solutions need to comply with data privacy regulations and ensure consent from users whose data is stored and secured. Managing consent on an enterprise level whilst maintaining privacy compliance could slow down identity and access management (IAM) demand outlook going forward.

Global Identity and Access Management (IAM) Market Report Snapshots

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FAQs

Global Identity and Access Management (IAM) Market size was valued at USD 15.9 billion in 2022 and is poised to grow from USD 17.89 billion in 2023 to USD 45.9 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

Identity and access management (IAM) providers should focus on simplifying the integration and deployment process of their solutions to improve their revenue generation potential. Identity and access management (IAM) companies can also collaborate and partner with other digital security solution providers to maximize their business reach in the future. Mergers and acquisitions will also help identity and access management (IAM) market players maximize their business presence on a global level. 'Salesforce Inc.', 'OneLogin', 'Broadcom', 'SecureAuth', 'Microsoft CORPORATION', 'CyberArk', 'Evdian', 'ForgeRock', 'Okta Inc.', 'One Identity LLC', 'IBM CORPORATION', 'ORACLE CORPORATION', 'HID Global', 'McAfee', 'Ping Identity'

The threat landscape is continuously evolving, and this has resulted in a high prevalence of data breaches and cyberattacks around the world. Identity and access management (IAM) solutions help fend off cyberattacks and improve the security of organization’s data, which is why their adoption is projected to increase in the future.

Use of Artificial Intelligence: Identity and access management (IAM) vendors can focus on developing new solutions that are integrated with artificial intelligence to improve the capabilities of IAM solutions such as verification and authentication.

North America is estimated to account for a substantial share of the global identity and access management (IAM) market. Growing adoption of remote work and rising emphasis on improving security are estimated to be key factors allowing this region to dominate the global landscape. Surging adoption of cloud-based platforms and growing incidence of cyberattacks are also predicted to augment the adoption of identity and access management (IAM) in this region going forward. Canada and the United States are forecasted to be the leading markets in this region.

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Global Identity and Access Management (IAM) Market Size, Share, Growth Analysis, By Component(Audit, Compliance & Governance), By Deployment(Cloud, Hybrid), By Industry Vertical(BFSI, Energy) - Industry Forecast 2024-2031

Global Identity and Access Management (IAM) Market Dynamics

Global Identity and Access Management (IAM) Market Report Snapshots

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What is the key market trend for Global Identity and Access Management (IAM) Market?

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