Identity and Access Management (IAM) Market Size By Solution (Provisioning, Password Management, Directory Services, Advanced Authentication, Single Sign-On, Audit, Compliance & Governance), By Deployment Model, By Application & Forecast, 2023 – 2032
Report ID: GMI176
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Published Date: March 2023
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Report Format: PDF
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Base Year: 2022
Companies covered: 20
Tables & Figures: 279
Countries covered: 19
Pages: 200
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Identity and Access Management (IAM) Market
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Identity and Access Management Market Size
Identity and Access Management (IAM) Market size exceeded USD 12 billion in 2022 and is expected to grow at 13% CAGR till 2032. This industry growth can be attributed to the exponential increase in the adoption of cloud computing services across multiple industries including BFSI, retail, and healthcare. For instance, the cloud computing market generated a revenue of over 450 billion in 2022 from cloud computing & related services and is likely to generate over USD 700 billion by 2030.
The design and operation of every business model are different in an organization, making it difficult to secure the entire organization with IAM solutions. Centralized IAM structures and processes cannot keep up with access control demands. According to our analysis for 2022, 88% of large-scale enterprises have independent business processes. It is difficult for cybersecurity organizations to establish an IAM infrastructure independently for every section of the business process and manage the risk & security compliances. This is a major factor restraining market growth.
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.
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.
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.
Identity and Access Management Market Share
The market is characterized by large-scale investments in R&D for developing advanced IAM frameworks as well as collaborations & partnerships among leading enterprises and IAM solution providers. Major players, such as:
focus on developing differentiated products to meet the growing demand and reduce the security challenges faced by enterprises. Companies are also focused on launching new IAM solutions to increase their market shares.
The Identity & Access Management market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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Market Statistics, By Solution
Market Outlook, By Type
Market Outlook, By Deployment Model
Market Outlook, By Application
The above information has been provided for the following regions and countries: