Identity And Access Management (IAM) Market to Surpass USD 48.78 Billion by 2031 | SkyQuest Technology

Westford, USA, June 06, 2024 (GLOBE NEWSWIRE) — Identity And Access Management (IAM) Market to Surpass USD 48.78 Billion by 2031 | SkyQuest Technology

SkyQuest projects that the Global Identity and Access Management (IAM) Market will attain a value of USD 48.78 Billion by 2031, with a CAGR of 15.6% over the forecast period (2024-2031). There is an upsurge in the number of fraudulent incidents as well as cybercrimes and thus firms are adopting IAM systems. This is because of the high cloud uptake, and new technology advancements. Through identity analytics and intelligence, it can flag abnormal user account behaviour. The system also allows for deletion of redundant accounts, identification of policy violations and revocation of illegitimate access privileges.

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Browse in-depth TOC on the ” Identity and Access Management (IAM) Market ” 

  •       Pages – 157
  •       Tables – 202
  •       Figures – 80

Identity and Access Management (IAM) Market Overview:

Report Coverage Details
Market Revenue in 2023 $15.4 Billion
Estimated Value by 2031 $48.78 Billion
Growth Rate Poised to grow at a CAGR of 15.6%
Forecast Period 2024–2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Segments Covered Solution, Type, Offering, Identity Lifecycle management, Service, Deployment Mode and Vertical
 Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
 Report Highlights Identity and access management (IAM) vendors focus on developing new solutions
 Key Market Opportunities Lack of identity standards and budgetary constraints in deploying IAM solutions
 Key Market Drivers  Rising Incidence of Cyberattacks


Essential Function in Provision Component User Lifecycle Management to Assist in Market Domination

The provision component leads the global identity and access management (IAM) market due to its crucial function in user lifecycle management. Automating user access privileges through effective provisioning ensures security and compliance. The provider component’s dominant position in the market is cemented by its increased security and efficiency, which spur adoption across many industries.

On-Premises Deployment Rise to Dominance in the market is due to Lowering the Risk of Breaches

As a result of increased demands for data security and compliance, on-premises implementation is the industry leader in the IAM market. Businesses like on-premises solutions as they offer more control over confidential data and lower the possibility of security breaches. As a result, this preference increases demand, guaranteeing the market domination of on-premises IAM solutions.

Surging Adoption of Cloud-Based Platforms Allowing North America to Hold Sway Over Identity and Access Management (IAM) Market

According to estimates, North America has a significant portion of the market. The region’s ability to dominate the worldwide scene is largely attributable to factors such as the growing acceptance of remote work and the increased focus on security enhancement. The usage of identity and access management (IAM) is expected to increase in this region in the future due to the increased prevalence of cyberattacks and the rapid adoption of cloud-based platforms. The two largest markets in this region are anticipated to be the US and Canada.

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Identity and Access Management (IAM) Market Insight

Drivers:

  1.  Rising Incidence of Cyberattacks
  2.  Growing Mobile Workforce and High Use of Cloud Platforms
  3.  Rising Instances of Security Breaches and Escalating Instances of Identity-Related Fraud

Restraints:

  1.  Complex Deployment and Integration
  2.  Consent Management
  3.  Lack of Identity Standards and Budgetary Constraints in Deploying IAM Solutions

Prominent Players in Identity and Access Management (IAM) Market

  •  CA Technologies (US)
  •  Okta, Inc. (US)
  •  Oracle Corporation (US)
  •  Core Security SDI Corporation (US)
  •  Hitachi ID Systems, Inc. (US)
  •  Bitium, Inc. (US)
  •  Micro Focus (UK)
  •  IBM Corporation (US)
  •  Dell Technologies (US)
  •  Centrify Corporation (US)

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Key Questions Answered in Global Identity and Access Management (IAM) Market Report

  •  What will the Global Identity and Access Management (IAM) Market be worth in 2031, and what will be its compound annual growth rate (CAGR) throughout that time frame?
  •  In what ways does Identity and Access Management (IAM) assist businesses in thwarting instances of fraud and cybercrime?
  •  Why is the global identity and access management (IAM) market dominated by on-premises deployment?

This report provides the following insights:

  • Analysis of key drivers (High prevalence of data breaches & cyberattacks around the world, IAM solutions help fend off cyberattacks & improve the security of organization’s data, safeguarding cloud platforms from any data breaches and each consumer’s personal information resides on hundreds of servers across the globe), restraints (Expanding cyber threat landscape is restraining for businesses across all industrial sectors, IAM experiencing slow development due to a lack of identification standards and inadequate financial resources), opportunities (Need to secure & manage multiple accounts by accessing via the cloud, deployment & access to cloud-based IAM services easier and best in class structure involved with the effective implementation), and challenges (Several new malware variants are found attacking mobile phones and cybercriminals use advanced attack techniques to infiltrate organizations’ networks) influencing the growth of identity and access management (IAM) market
  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the identity and access management (IAM) market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the identity and access management (IAM) market
  • Market Development: Comprehensive information on lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

Related Reports:

Cyber Security Market

Network Security Market

Managed Security Services Market

Cloud Security Market

Application Security Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

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