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Identity and Access Management Market worth $34.3 billion by 2029- Exclusive Report by MarketsandMarkets(TM)
Tuesday, June 11, 2024

CHICAGO, June 3, 2024 /PRNewswire/ -- The global Identity and Access Management Market size is projected to grow from USD 22.9 billion in 2024 to USD 34.3 billion by 2029 at a CAGR of 8.4% during the forecast period, according to a new report by MarketsandMarkets(TM). The IAM market is primarily driven by the rise in cyber threats and data breaches, the adoption of cloud-based services, stringent regulatory compliance requirements, and shifting towards remote work. These factors necessitate robust IAM systems to secure and manage access across diverse platforms and locations.

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Browse in-depth TOC on "Identity and Access Management Market"

499 - Tables
57 - Figures
404 - Pages

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Scope of the Report

                Report Metrics 
      
              Details


     Market size available
      for years                
      2018-2029


     Base year considered                                                                                                                                      2023


     Forecast period           
      2024-2029


     Forecast units            
      Value (USD Billion)


     Segments Covered          
      Type, Offering, Solution, Service, Deployment Mode, Vertical, and Region


     Geographies covered       
      North America, Europe, Asia Pacific, Middle East and Africa, and Latin America


                                 Major vendors in the global IAM market include Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity
                                   (US), HID Global (US), ForgeRock (US), CyberArk (US), Micro Focus (US), Thales (France), Akamai Technologies (US), OpenText
                                   (Canada), Entrust (US), SAP (Germany), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US),
                                   Simeio (US), One Identity (US), FusionAuth (US), Auth0 (US), Idnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US),
     Companies covered             Beyond Identity (US), Delinea (US), Optimal IdM (US), and Netwrix (US).

Further, the opportunities in the IAM market are spurred by the ongoing digital transformation in businesses, which increases the complexity of network environments and necessitates sophisticated access management. Integrating IAM with emerging technologies like blockchain and IoT opens new avenues for advanced security solutions. Additionally, the surge in demand for user-friendly and scalable IAM solutions from SMEs provides significant growth opportunities in the sector.

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By type segment, the consumer IAM will grow at the highest CAGR during the forecasted period.

Due to several key factors, the consumer IAM segment is anticipated to have the highest CAGR in the IAM market during the forecasted period. Firstly, increasing consumer awareness and demand for privacy and data protection compels businesses to adopt robust IAM systems. Additionally, the rise of digital transactions and online services across retail, healthcare, and financial sectors necessitates secure customer identity verification processes. The growth in technologies such as mobile and cloud services further drives the need for scalable and secure Consumer IAM solutions that ensure seamless customer experiences across multiple platforms. Moreover, regulatory pressures for more robust data protection measures worldwide encourage businesses to implement advanced Consumer IAM systems, thus boosting their growth. These factors collectively contribute to the growing adoption and development of consumer IAM.

The solutions segment holds the largest market size during the forecast period in terms of offerings.

The solutions segment of the IAM market is anticipated to achieve the highest market size due to the increasing demand for robust identity verification and management tools across various industries. As organizations face complex security challenges, comprehensive IAM solutions that effectively manage user identities and access permissions become crucial. These solutions include user provisioning, governance, and access management tools, essential for protecting sensitive data and complying with regulatory standards. Moreover, the rapid adoption of cloud-based technologies and the expansion of enterprise boundaries amplify the demand for scalable and flexible IAM solutions that can be integrated across diverse IT environments, thereby driving market growth in this segment.

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By region, the Asia Pacific market will grow at the highest CAGR during the forecast period.

The Asia Pacific region is projected to experience the highest CAGR in the IAM market, driven by rapid economic growth and digital transformation initiatives across significant economies like China, India, and Japan, significantly boosting the adoption of IAM solutions. The region is witnessing a surge in the number of startups and expansion of SMEs, which are increasingly embracing cloud-based IAM solutions for enhanced security measures. Additionally, the rising awareness of cybersecurity risks and stringent regulatory compliance demands are compelling businesses to invest in advanced IAM systems. Furthermore, the increasing penetration of internet usage and mobile technologies in this region fuels the need to secure consumer and employee identities, thus driving the growth of the IAM market.

Top Key Companies in Identity and Access Management Market:

Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity (US), HID Global (US), ForgeRock (US), CyberArk (US), Micro Focus (US), Thales (France), Akamai Technologies (US), OpenText (Canada), Entrust (US), SAP (Germany), RSA Security (US), Avatier (US), ManageEngine (US), SecureAuth (US), EmpowerID (US), Simeio (US), One Identity (US), FusionAuth (US), Auth0 (US), Idnow (Germany), Zephr (UK), Signzy (US), Civic (US), Trusona (US), Beyond Identity (US), Delinea (US), Optimal IdM (US), and Netwrix (US) are the key players and other players in the IAM market.

Browse Adjacent Market: Information Security Market Research Reports & Consulting

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About MarketsandMarkets(TM)

MarketsandMarkets(TM) has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets(TM) is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore(TM) (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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SOURCE MarketsandMarkets



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