- The identity and access management market was worth USD 9 billion in 2014. It would be valued around USD 25 billion by 2022. This growth is estimated to be driven by demand from medium & large scale businesses and governmental agencies. Such organizations are focused on risk management that includes policy-based compliance and audit management, at affordable costs.
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Stringent regulations, web-based applications, and rising trends like BYOD – Bring Your Own Device and IoT – Internet of Things also prove favorable for the market. The identity and access management market may be hindered by low trust in cloud service providers and insufficient identity assurance for cloud services & applications.
Low awareness regarding cloud computing solutions on offer creates a gap between service providers and consumers. Business losses from such issues may partly be compensated for, by global focus on centralized identity management. The identity and access management market is segmented according to deployments, end-users, and regions.
Deployment segments are cloud, hybrid, and on-premise. Cloud will exhibit robust growth, at a CAGR exceeding 17.9% from 2015 to 2022. Cloud technology has drastically changed business operations. Demand for cloud Single Sign-On (SSO) will also boost cloud-based solutions.
On-premise deployment held about 56% of the total shares in 2014. However, it is likely to lose a significant share by 2022. This may be credited to its inability to detect security breach due to unauthorized physical access, something that cloud and hybrid solutions cover.
End-users include energy, education, banking financial services & insurance (BFSI), oil & gas, healthcare, telecom & IT, manufacturing, public sector & utilities, and others. Public sector & utilities contributed 24% of the overall revenues in 2014. It would witness strong growth in the coming years.
In relation to regions, North America led the identity and access management market in 2014. It is predicted to hold more than 33% of the market by 2022. Strict regulations for accessing federal IT infrastructure & networks contribute regional growth. Asia Pacific and MEA – Middle East & Africa will generate substantial demand in the future.
Notable players in the worldwide identity and access management market encompass CA Technologies, Oracle Corporation, Amazon Web Services, Centrify, and OneLogin, Inc.
Information Source: Grand View Research
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