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 Insights

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) solutions are used to manage identities in an organization and secure them. Growing emphasis on security in the wake of surging cyberattacks and evolving threat landscape is projected to bolster the demand for identity and access management (IAM) in the future. The growing popularity of remote work trend and high adoption of cloud-based platforms and applications are forecasted to augment the identity and access management (IAM) market growth over the coming years. Identity and access management (IAM) companies can also integrate their offering with advanced technologies such as artificial intelligence and machine learning to improve their application scope in the long run. On the contrary, complexity of deployment and integration and consent management are slated to be the key constraints for market development across the forecast period and beyond.

Global Identity and Access Management (IAM) Market Report Snapshots

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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 Insights

Global Identity and Access Management (IAM) Market Report Snapshots

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