According to Market Research Future (MRFR), The global identity & access management (IAM) market is estimated to grow at USD 24 billion with a 16% CAGR from 2016 to 2022 (forecast period). The research report covers the COVID-19 analysis of the identity & access management market and provides a thorough and holistic overview of market segments, current trends, growth forecasts, and business challenges to identify business opportunities.
The IAM or Identity Management System can be defined as a system framework that facilitates the management of the organization of electronic identities. Nowadays, IAM can be used for a range of purposes, including the initiation, capturing, recording, and management of user identities. Rising industrial automation and a high dependence on technology for the business process are pushing IT companies to invest constantly in the development of new products.
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The global market for IAM is rising rapidly. The high rate of adoption by large companies with a growing need for this system is helping the market to expand. Other factors such as increased investment in R&D, new product development, high demand for security services and a rising need for automation in today's technological environment are some of the main factors for market growth, while the cost and lack of qualified professionals in the industry are some of the significant constraints of the market.
Based on regions, the global identity & access management market has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa.
North America dominates the IAM Market Size. Factors such as high technological development, the involvement of global players, and developed nations such as the United States and Canada give North America a strategic edge over other regions. Europe is the second-largest market due to the rich presence of the manufacturing industry and the increasing BFSI industry in the United Kingdom. Asia Pacific is also showing positive growth in this market due to the rising economies of China and India. The rich presence of semiconductor and other manufacturing industries in China, South Korea, and Taiwan is helping the IAM market in the Asia Pacific region.
The global identity & access management market has been segmented into deployment, organization size, and verticals.
Based on deployment, the global identity & access management market has been segmented into on-cloud public, private, hybrid, and on-premise.
Based on organization size, the global identity & access management market has been segmented into SMEs and large enterprises.
Based on verticals, the global identity & access management market has been segmented into BFSI, manufacturing, IT & telecommunication, government, healthcare, and others.
The key participants identified by MRFR operating in the global identity & access management market are– F5 Networks (U.S.), Amazon Web Services (U.S.), HP (U.S.), IBM (U.S.), Microsoft Inc. (U.S.), Oracle Corporation (U.S.), Siemens AG (Germany), Dell Inc. (U.S.), CA Technologies (U.S.), ForgeRock Inc. (U.S.) among others.
The global IAM market is highly competitive due to the involvement of both large and small players providing IAM solutions and services. In order to outperform their rivals, companies are offering creative solutions that help customers meet emerging technology, security needs, and business practices. IAM providers use acquisition, collaboration, and research and development techniques to expand their product portfolio and improve their market position.
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