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 (On-premise, Cloud), By Application (BFSI, IT & Telecom, Healthcare, Education, Public Sector & Utilities, Manufacturing, Retail), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032

Industry Drivers

Identity and Access Management Market size surpassed USD 12 billion in 2022 and is anticipated to expand at 13% CAGR from 2023 to 2032. The industry growth is owing to the substantial increase in identity theft, data breaches, and hacking incidents.
 

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Identity and access management (IAM) tools are critical for organizations to protect their systems from misuse or unauthorized access. Methods such as WannaCry, ransomware, and other cyber-attacks targeted toward businesses have increased rapidly. It has been predicted that close to 90% of these attacks could be avoided through the adoption of proper IAM solutions. The growing emphasis of private or public organizations on cyber security to lower revenue losses will thus boost the reliance on IAM technology.
 

Small-sized enterprises, however, are still relying on traditional security measures with little to no investments in IAM systems. There is also a lack of awareness about the benefits of these authenticated solutions among medium-sized enterprises and the public sector, thereby hindering the industry growth. Despite these drawbacks, the rising deployment of cloud computing tech and the subsequent surge in demand for access control solutions will escalate the implementation of cloud identity and access management software.
 

Increasing password creation to stimulate SSO solution

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The single sign-on (SSO) solution segment will account for over 13% share of the identity and access management market by 2032. Enterprises are increasingly deploying SSO solutions to simplify access and enhance security. With the number of passwords used in organizations growing steadily, advanced security solutions have become critical for administrators. These factors will amplify the usage of SSO solutions to aid in the replacement of passwords with biometrics, smartcards, and other authentications.
 

Shift toward IDaaS platforms will proliferate cloud IAM software development

The cloud deployment model segment is set to register 19.5% CAGR through 2032, as a result of the growing adoption of the IDaaS (Identity-as-a-Service) platform among SMEs. Cloud IAM software offers several key attributes, including the delivery of centralized management through user provisioning, access management, compliance support, and directory management, further contributing to product penetration. Moreover, the heightening awareness of the benefits of scalable, cost-effective, and flexible IAMs will bolster their usage via cloud platforms.
 

Mounting health data volume to amplify use of identity and access management tool

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The healthcare segment is slated to hold more than 9% share of the identity and access management market by 2032, due to the rising volume of health data. Healthcare systems have been encountering a complex set of security, privacy, and compliance challenges. This factor will encourage healthcare institutions to adopt efficient IAM solutions to provide patients with secure access to digital tools and records while remaining in compliance with HIPAA and HITECH regulations. The strong focus on optimal healthcare service delivery is further expected to accelerate healthcare IAM tool production.
 

Growing mobile workforce population in the Europe

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On the regional front, the Europe identity and access management market dominated around USD 3 billion revenue in 2022, on account of rising population of mobile workforces. The deployment of cloud-based services and solutions has increased, creating growth opportunities for mobile workforces in the region. Government bodies have also been undertaking various strategic initiatives, such as public-private partnerships to ensure cyber security. These strategies are likely to promote the development of IAM solutions for enterprises and government organizations in the region.
 

Unified platform development strategies to strengthen the competitive landscape

Some of the leading companies operating in the IAM market include CA Technologies, Dell Inc., Crossmatch, ForgeRock, HID Global Corporation, Gemalto, Hitachi Id Systems, Inc., iWelcome, IBM Corporation, Microsoft Corporation, Okta Inc., Net IQ (Micro Focus), Netreo Inc., OpenText Corp., OneLogin Inc., Oracle Corporation, SailPoint Technologies Holdings Inc., Ping Identity, Siemens AG, and Symantec Corporation. These companies are emphasizing new platform developments and other strategies to increase their presence in the global market.
 

Impact of COVID-19 pandemic on identity and access management market outlook

With the massive increase in remote working, cloud technologies have become crucial for businesses across all sectors since the implementation of lockdowns due to the COVID-19 pandemic. While cloud technology can help businesses cope with disruptions induced by the crisis, there have been several challenges associated with the management of users. As a result, identity and access management systems have become critical for organizations to manage security risks arising from the rise in the cloud deployment. The escalating number of remote workers and rapid digitalization is therefore likely to boost the market growth.
 

The IAM 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:

Market, By Solution

• Provisioning
• Password Management
• Directory Services
• Advanced Authentication
• Single Sign-On
• Audit, Compliance & Governance

Market, By Deployment model

• On-premise
• Cloud

Market, By Application

• BFSI
• IT & Telecom
• Public Sector and Utilities
• Healthcare
• Education
• Manufacturing
• Retail
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • ANZ
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa