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Identity and Access Management (IAM) Market Analysis

Report ID: GMI176
Published Date: Mar 2023
Report Format: PDF

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Identity and Access Management Market Analysis

The identity and access management market from on-premises deployment model is poised to witness around 12.3% growth rate from 2023 to 2032. Rising adoption of on-premises models, which are increasingly being used by data-sensitive enterprises to enhance enterprise security and reduce dependencies on the security services offered by third-party cloud providers. On-premise solutions offer greater control over enterprise data and better resiliency compared to cloud-based tools.

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Identity and Access Management (IAM) Market Share, By Solution

What are the growth opportunities in this market?

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The IAM market from growing demand from SME as well as large enterprises for advanced authentication solutions to store valuable information, such as employee authenticated credentials, personal information, and pay slips is expected to drive the growth of on-premises segment. Growing development in blockchain technology has also created a demand for secure & authenticated platforms to safeguard personal organization identities from cyberattacks and fraudulent activities.

The BFSI sector held nearly 19.5% of the identity and access management market share in 2022. The growing focus of banking & financial institutes on digitalization to enhance customer experience is anticilated to fuel the demand for high-quality management solutions for efficient data management. Financial institutions are emphasizing accessing important information in real-time to better serve clients. Similarly, online banking, net banking, and online payment transactions require real-time processing. IAM tools aid the BFSI industry by providing data security guarantees for such transitions and users can access their real-time private data anywhere without any data breaching issues.

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The Asia Pacific IAM market size accounted for around USD 2 billion in 2022 owing to the rapidly growing industrial and manufacturing sectors in the region. The growing adoption of advanced technologies, such as cloud, IoT & AI, in India, China, Japan, and Singapore will boost the industry growth. Technologies including IoT and machine learning are being incorporated into the manufacturing sector. The rising adoption of IAM solutions across the healthcare sector is also boosting the Asia Pacific IAM solutions market growth. Increasing investments in healthcare digitization in APAC and the rising adoption of telemedicine technology will propel the regional demand.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market value for identity and access management (IAM) was crossed USD 12 billion in 2022 and will depict over 13% CAGR through 2023-2032, due to an increase in identity theft, data breaches, and hacking incidents.

The single sign-on (SSO) solution segment is anticipated to account for over 13% share of the identity and access management (IAM) industry by 2032, owing to the increasing use of passwords in enterprises.

The industry for identity and access management (IAM) in Europe was valued at over USD 3 billion in 2022, considering the rising number of mobile workforces in the region.

Dell Inc., Hitachi Id Systems, Inc., IBM Corporation, Microsoft Corporation, Net IQ (Micro Focus), Okta Inc., Oracle Corporation, Siemens AG, and Symantec Corporation are among the key participants in the market.