Identity and Access Management Market to Reach USD 34.52 Billion by 2028; Centrify and Thycotic Merge Under Name ThycoticCentrify to Expand Business Territories: Fortune Business Insights™

Prominent Companies in Global Identity and Access Management Market are ForgeRock, Crossmatch, Cyberark, CA Technologies, Symantec, Gemalto, Siemens AG, Oracle, HP Development Company L.P., Amazon Web Services Inc., Fischer Identity, Core Security, Centrify, Beta Systems, Avatier, IBM Corporation, Microsoft, Akamai Technologies

Pune, India, Jan. 07, 2022 (GLOBE NEWSWIRE) — The global identity and access management market size was USD 12.26 billion in 2020. The market is projected to grow from USD 13.41 billion in 2021 to USD 34.52 billion in 2028 at a CAGR of 14.5 % in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Identity and Access Management Market, 2021-2028.”

According to our researchers, advent of block-chain technology enables safe and clear identity administration medium in order to guard private as well as administrative personalities from cyber-attacks and deceitful actions. Moreover, leveraging the welfares of individuality verification and protected access presented by block-chain incorporated IAM systems, administrations and official organizations are actively financing to integrate solutions. For example, since November 2017, Zug, which is a town situated in Switzerland, has initiated presenting block-chain centered digital identification cards to its residents.

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List of Key Players in Identity and Access Management Market

• Amazon Web Services Inc. (Washington, U.S.)
• Akamai Technologies (Massachusetts, U.S.)
• HP Development Company L.P. (California, U.S.)
• Microsoft Corporation (Washington, U.S.)
• Oracle Corporation (Texas, U.S.)
• IBM Corporation (New York, U.S.)
• ForgeRock (California, U.S.)
• Thales Group (Paris, France)
• Avatier (California, U.S.)
• Symantec (Arizona, U.S.)
• Beta Systems (Berlin, Germany)
• CA Technologies (New York, U.S.)
• Centrify (California, U.S.)
• CyberArk (Massachusetts, U.S.)
• Core Security (Massachusetts, U.S.)
• Crossmatch (Florida, U.S.)
• Fischer Identity (Florida, U.S.)

Report Scope & Segmentation

Increasing Demand for Identity Security Key amid COVID-19 to Offer New Market Prospect

The COVID-19 pandemic outbreak has obstructed several business processes and observed an occupational hazard across countless industries on a global level. On account of the pandemic, administrations have implemented distant working method and cloud technology to diminish the influence on business processes.

Moreover, escalating implementation of cloud and remote work or work-from-home culture augmented the data security and confidentiality apprehensions for several administrative organizations. On account of the financial commotion instigated by COVID-19 virus outbreak, cybercrimes and upsurge in identity scams have enhanced the implementation of IAM solutions in these unfortunate times.

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Report Coverage

The report offers a complete investigation of this market along with existing trends and imminent openings in order to inaugurate proximate investment advantages. Moreover, an exhaustive breakdown of any impending opportunities, intimidations, rivalries or driving aspects is also revealed in the report. Step by step, systematic regional inspection is presented for additional business gains. The COVID-19 sways have been discussed in the report to aid investors and business experts to understand the risks better and tackle them. The top companies in the market are acknowledged, and their prominent strategies to reinforce the market growth are conversed in the report.

Segmentation

On the basis of component, the global market is segregated into provisioning, directory services, single sign-on, password management, advanced authentication, audit, compliance, and governance, and others. By deployment, the market is classified into cloud and on-premises. On the basis of organization size, the market is categorized into small & medium enterprises (SMEs) and large enterprises. In terms of geography, the IAM market is bifurcated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Based on the industry vertical, the market is branched into BFSI, healthcare & life sciences, manufacturing, retail and consumer packed goods, IT & telecom, government, education, and energy & utilities. Among these, the healthcare and life-science segment is anticipated to display maximum growth owing to the escalating adoption of IAM solutions.

Drivers and Restraints

Surging Consciousness of Supervisory Obedience to Promote Market Growth

In the data powered world that we live in today, corporations are integrating identity and access management solutions to detect deceitful happenings and diminish cyber-attacks guaranteeing data privacy and security. IAM systems aids administrations to suffice the obedience necessities. For example, administrations having IAM solutions are able to verify that they have suitable processes to alleviate the threat of data breach or mismanagement while inspecting.

Such agreement necessities and business supremacy apprehensions are anticipated to augment the identity and access management market growth during the forecast period.

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Regional Insights

North America held the maximum identity and access management market share and is anticipated to lead the market in 2020. The development in this region is accredited to the implementation of distant work, cloud technology and surging cyber-attacks. Moreover, the market growth is powered by the existence of prominent corporations such as Amazon Web Services Inc. and Akamai Technologies among others.

Europe is predicted to grow substantially owing to the safety and monitoring agreement apprehensions in nations such as Germany, Spain, Italy and others. The necessities of general data protection regulation (GDPR) across European Union fuels the market growth for identity and access management solutions in this region.

Asia Pacific is projected to display the highest CAGR during the mentioned period. The principal players in Asia pacific are capitalizing in progressive IAM solutions to avert cyber-attacks and individuality scams, this stimulates the regional market growth.

Competitive Landscape

Crucial Players Focus on Fortifying their Market Position with Constant Expansions

The prominent players present in the market are looking for opportunities for financing in innovative technologies to enhance the competences of IAM solutions. Likewise, the significant competitors are entailed in numerous procurements, collaborations, alliances, and mergers in order to multiply their market presence.

Industry Development

May 2021: Centrify and Thycotic, which is a cloud identity security solution provider, has made an announcement regarding the merger of ThycoticCentrify. It intends to administrate IAM accounts, AWS EC2 examples, and AWS billing accounts.

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Major Table of Contents:

• Introduction
  • Definition, By Segment
  • Research Methodology/Approach
  • Data Sources
• Key Takeaways
• Market Dynamics
  • Macro and Micro Economic Indicators
  • Drivers, Restraints, Opportunities and Trends
  • Impact of COVID-19
    • Short-term Impact
    • Long-term Impact
• Competition Landscape
  • Business Strategies Adopted by Key Players
  • Consolidated SWOT Analysis of Key Players
• Global Identity and Access Management Key Players Market Share Insights and Analysis, 2020   
• Key Market Insights and Strategic Recommendations
• Companies Profiled (Covered for key 10 players only)
  • Overview
    • Key Management
    • Headquarters etc.
  • Offerings/Business Segments
  • Key Details (Subjected to data availability in public domain and/or on paid databases)
    • Employee Size
    • Key Financials
      • Past and Current Revenue
      • Geographical Share
      • Business Segment Share
  • Recent Developments
• Annexure / Appendix
  • Global Identity and Access Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Component(USD)
      • Provisioning
      • Directory Service
      • Single Sign-On
      • Password Management
      • Advanced Authentication
      • Audit, Compliance, and Governance
      • Others (access management and authorization, verification etc.)
    • By Deployment Model(USD)
      • Cloud
      • On-Premises
    • By Enterprise Size(USD)
      • Large Enterprises
      • Small and Medium Enterprises
    • By Vertical
      • BFSI
      • Telecom and IT
      • Retail and Consumer Packed Goods
      • Government
      • Energy Utilities
      • Education
      • Manufacturing
      • Healthcare and Life Sciences
      • Others
    • By Region (USD)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Identity and Access Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Component(USD)
      • Provisioning
      • Directory Service
      • Single Sign-On
      • Password Management
      • Advanced Authentication
      • Audit, Compliance, and Governance
      • Others (access management and authorization, verification etc.)
    • By Deployment Model(USD)
      • Cloud
      • On-Premises
    • By Enterprise Size(USD)
      • Large Enterprises
      • Small and Medium Enterprises

TOC Continued…!

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