Global identity and access management market

Global identity and access management market was valued at US$ 10.32 Bn in 2019 and is expected to reach US$ 12.29 Bn by 2027, at a CAGR of 27.04% during a forecast period.

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Identity and access management technology can be used to initiate, capture, record, and manage user identities and their access permissions through automation. This ensures that all individuals and services are properly authenticated, authorized, and audited.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding identity and access management market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in identity and access management market.
Introduction of obligatory policies by national governmental cyber authorities to avoid data loss and strengthen security is a key factor driving the growth of identity and access management market. Increasing expenditure by government organizations and large-scale enterprises owing to security concerns as well as stringent regulatory compliances are expected to boost market growth. Furthermore, persisting risk of cyber-attack to steal company private data is helping growth of the market. However, complexity of solution integration and compatibility necessities is hampering the growth of identity and access management market.

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On-premise deployment model led the identity and access management market in 2017. On-premise model delivers continuous and secure access to various applications, driving their demand. The on-premise solutions are implemented by companies having a strategic approach to access management alignment and demanding flexible functionality. The cloud segment is estimated to register huge growth during the forecast period.

Public Sector & Utilities segment accounted for the leading market share in the identity and access management market in 2017. The major factors contributing to the growth include the rapid increase in the cyber-attacks and digital transformations such as cloud computing, real-time data access to customers, and automated infrastructures. The BFSI segment is estimated to the highest CAGR during the forecast period. This sector holds crucial customer data that needs a high level of security.

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