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Global identity & access management (IAM) market to reach $18.89 B in 2023

The market size of the Global Identity and Access Management market is estimated to be USD 10.31 Billion in 2018 and is expected to reach a market size of USD 18.89 Billion in 2023 growing at a rapid growth rate of 12.9% in the forecast period 2018 to 2023

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Definition / Scope

Identity and access management (IAM) is the security discipline that facilitates the authorized individuals to access the right resources at the correct times for the right reasons. IAM is a solution that helps end-users to make sure that access across various technological environments is granted only to the right individuals.

Identity and access management solutions provide secure, identity-based access to various applications, systems, and information from any location. Identity and access management resolutions helps enterprises to manage security across several systems by allowing employees access with a single sign-on password.

Identity and access management solutions are able to avoid falsified activities, thereby avoiding data abuse. Hence, identity and access management solutions are being widely implemented by large and medium-scale enterprises as well as government divisions.

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Market Overview

The Global Identity and Access Management Market is expected to grow from USD 10.31 Billion in 2018 to USD 18.89 Billion in 2023 growing at a CAGR of 12.9% in the forecast period 2018 to 2023

The provisioning component segment led the identity and access management market in 2018 with over 30% revenue share. With an increase in users accessing system and application, it is crucial for an enterprise to have a suitable process in IT infrastructure to manage the identities.

The multifactor authentication is anticipated to witness a high CAGR of 17.0% over the forecast period. Stringent compliance and policies for internet banking such as self-created passwords and OTP tokens are potential factors anticipated to boost the growth of multifactor authentication application.

Cloud segment is projected to register tremendous growth over the forecast period. Increasing adoption of cloud model among different organization owing to its cost-effectiveness and economies of scale is one of the key factors contributing to the segment growth.

On the basis of end use, the identity and access management market is segmented into BFSI, telecom and IT, energy, oil and gas, education, public sector and utilities, healthcare, and manufacturing.

Other end uses include defense, logistics, and home safety and security. Public sector and utilities segment led the market valuing at USD 2.49 billion in 2018.

North America led the market with a market share of over 38% in terms of revenue. Favorable regulatory scenario is the primary factor stimulating the regional growth. For instance, according to the National Conference of State Legislatures, in 2017, around 240 bills related to cybersecurity were introduced by 42 states in the U.S. to address cyber security issues. Through this regulatory bill, states in the country will address cybersecurity concerns by taking different initiatives. These initiatives include combating threats to critical infrastructure, providing more funding for improved security measures, and enforcing regulations to implement specific types of security practices in government agencies as well as at private business.

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Key Metrics

Metrics Value Explanation
Base Year 2018 Researched through internet


Market Risks

Intense Competition

The IAM market is highly competitive with very low barrier for entry. With the Identity and Access Management solution market being dispersed, in a situation where there are no market leaders in the segment and where there are more penetration of new entrants on a regular basis, the Identity and Access Management solution market is highly competitive.

With very low entry barrier the number of new entrants into the IAM market there is a need for key players to consolidate their market position and offer innovative solutions. Identity and Access Management Market is highly competitive due to the low investment needed for starting-up and running the business. The highly competitive nature of the market enables the survival of the enterprises that keep innovating with different solutions for the specific security issue and would affect the businesses that fails to do so.

Commoditization of the Market

Commoditization of the Identity and Access Management solution leads to two possible overheads that the services such as Directory Service and Provisioning are becoming undifferentiated and substitutable. The core Directory Service technology became a commodity several years ago and the Provisioning technology is following the same trend and expected soon to become a commodity.

While there are significant differences in the products available in the Identity and Access Management Solution Market, vendors are rushing to minimize the differentiation in the IAM products. The commoditization of the Identity and Access Management solution market affects the choice for the customers as the same products are offered in different names.

Top Market Opportunities

Increasing Cloud and SaaS adoption

Adoption of cloud deployment in the sizes of the organization is rapidly growing owing to the cost-effectiveness and flexibility in carrying out the business functions. Moreover, it also offers an organization the opportunity to digitally transform their IT infrastructure, thereby gaining a competitive edge in the market. However, cyberspace networks are increasingly getting vulnerable to cyber and malware attacks. Thus, IAM provides a unified view into security policy coupled with auditing to ease compliance processes within the organization.

Moreover, adoption of cloud platforms such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and, Software as a Service (SaaS) have necessitated the IT departments to improve the organization’s IAM. Thus, improved IAM practices and processes are expected to help the cloud services provider to deliver robust services and provide scalability for the user. Furthermore, utilizing cloud-based services has put the IT security function as a significant concern for the organization. Thus, enterprises are expected to adopt IAM solutions to curb advanced cyber-attacks.

Growing market via hybrid cloud model

The Hybrid Cloud model integrates the benefits offered by both the Public and the Private Cloud Models. It offers features such as flexibility, scalability and agility, providing all these at a lower cost than the private cloud and more secure than the public cloud. There is an uptick in the growth of the Identity and Access Management market due the hybrid cloud model adoption which provides an additional layer of security for provisioning and de-provisioning of services both on-premise and on the cloud driven by factors such as increasing trend of BYOD and mobility of workforce.

Hybrid cloud prevents the provisioning of multiple identities for a single user as one identity might be used as a corporate credential, a single sign-on credential for company-sanctioned cloud services and a number of other log-in credentials for their consumer cloud services. Hybrid cloud provides workers with a single identity allows for single sign-on capabilities across private and public networks, eases management of access credentials and improves security by allowing advanced intrusion detection, such as user and entity behaviour analytics.

Market Drivers

Increased spending on security solutions by government bodies

Big ticket investments by governments on security solutions to curb identity theft and to adhere to regulatory compliance are the prominent factors expected to boost the growth. For instance, in case of the healthcare sector, as per the Health Insurance Portability and Accountability Act of 1996 (HIPAA), organizations are required to ensure portability of healthcare coverage and privacy of patient records.

Increase in security concerns among organizations

Cyber thefts are growing at an alarming rate. There has been a significant increase in the number of data records that were compromised, increasing by over 80% between the period 2017-2018. The growing number of data breaches is increasing the demand for identity and access management (IAM) that supports enterprises in verifying users and managing their access to enterprise resources.

IAM also helps enterprises review the critical areas of concern within their environment and offers tools to defend against these attacks. Thus, the increase in data thefts across the globe will fuel the identity and access management market growth during the forecast period.

Increasing demand for mobility solutions and connected devices

Gartner predicts that connected ‘things’ in use worldwide will grow from 8.4 billion in 2017 to 20.4 billion by 2020. With the proliferation of all these new digital identities, bi-passing the traditional firewall and perimeter security model, organisations are being forced to introduce structured security solutions with identity and IAM fundamentals at the core. New strategies and techniques need to be developed to resolve the issue of IoT security, and many believe this need to come from looking closer into the ‘Identity’ of things (IDoT) rather than looking at traditional user identities.

By 2020, 46% of the workforce will be made up of millennials, they demand collaborative and connected ways of working! BYOD policies within businesses are on the rise as companies recognise the need to power mobile and flexible working. As demand for BYOD from employees increases, and as CISOs continue to work towards the mantra of ‘anyone, any device, anywhere’, it can be sure this will drive changes in the IAM strategy – the cornerstone to security.

The rising trend of workforce mobility and web-based applications has created a major challenge for employees to remain connected to the corporate resources without compromising on security. Enterprises are hosting critical applications on the cloud, making it important to manage authorization and authentication for numerous web applications and organizational data.

The Asia Pacific region accounts for the highest mobile workforce with a share of around 55 percent followed by the UK and the U.S. with 10.9 and 10.1 percent, respectively. Hence, to meet the rapid growth of enterprise mobility, organizations have enhanced the usage of centrally management comprehensive IAM solutions, which assist them in getting the required visibility and control over a distributed workforce.

Rapid adoption of Cloud-based Technologies

Cloud IAM are gaining increased traction in end-use industries, offering several benefits such as identity synchronization and provisioning, federation service, customer identity management, and single sign-on (SSO) features. Their adoption has helped enterprises reduce the cost and complexity in managing access controls and compliance for users. Equipped with robust application interfaces, cloud IAM enable custom integrations capabilities for businesses of different types.

Market Restraints

Lack of information security of consumer data

There is a threat to the security of consumer data due to access to third-party data by the Identity and Access Management solution provider and this is increasingly prevalent in the case of Identity and Access Management solutions offered via cloud. Other threats for the security of customer data comes in the form of Weak Authentication Protocols

Authentication stands as one of the prominent identity management issues. Password security is one of the security measures adopted in the Authentication segment but it comes with drawbacks as passwords alone cannot provide the security for the enterprise in other words password security cannot itself serve as the digital perimeter as it doesn’t have enough security layers.

As a consequence of this, Enterprises have begun to adopt two-factor authentication which includes solutions such as SMS Messaging, email confirmation, hard-tokens or biometric-authentication as the secondary factor, However hackers have found ways to circumvent two-factor authentication. Hence the weakness in the Authentication Protocols and the lack of security of consumer data affects the uptake of Identity and Access Management solutions.

Complexity in Provisioning and Deprovisioning of identity

One of the most challenging identity management problems is simply keeping track of all the identities connecting to and acting on the network. Enterprises must make sure each identity receives the permissions it needs to conduct its business at the time of its creation (provisioning). Further, it must remove those permissions when the user leaves the enterprise (deprovisioning).

Even a small-to-medium-business (SMB) must deal with the provisioning and deprovisioning of their employees, third-party vendors, partners, and customers. Without the help of a solution, the IT security team can face difficulties; this applies doubly to high-turnover environments or business with more part-time or seasonal employees. IT teams face challenge in the form of securing the network without affecting access to the resources by the employees.

The growth of mobile computing means that IT teams have less visibility into and control over employees work practices, Enterprises face the challenges to manage time-incentive processes including manual approval and provisioning. Identity administration functions continue to be delivered in enterprise silos, leading to users with the inefficient process, excessive access, and higher costs of provisioning and de-provisioning.

Inconvenience in managing distributed workforce

One way organizations can recruit and retain the best talent is to remove the limitations of geographic location and offer a flexible work environment. A remote workforce allows businesses to boost productivity while keeping expenses in check, as well as untethering employees from a traditional office setting. However, with employees scattered all over a country or even the world, enterprise IT teams face a much more challenging task: maintaining a consistent experience for employees connecting to corporate resources without sacrificing security.

The growth of mobile computing means that IT teams have less visibility into and control over employees work practices. The Inconvenience in Managing distributed workforce restrains the uptake of the Identity and Access Management solutions.

Difficulties in collaborating with Internet of Things

With the advent of IoT era, many traditional access control models such as Access Control Lists (ACLs) and Role-based Access Control (RAC) models, which are designed for centralized systems, become obsolete due to the rapid growth of roles and policies. Besides, more and more factors and parameters such as time and location should also be taken into consideration in designing access control solutions.

Although Attribute-based Access Control (ABAC) model aims at handling this problem, the existence of centralized identity providers in ABAC model still have to face up to the scalability issue. A common problem of existing solutions stems from centralized administrative parties (i.e., administrators or identity providers) that become indispensable for assigning access rights, roles and attributes, and, consequently, these solutions are not suitable for scalable decentralized IoT systems and affects the growth of the Identity and Access Management Market.

Industry Challenges

Availability of Open Source Solutions

The availability of Open Source Identity and Access Management Solutions such as ApacheDS, Central Authentication Service (CAS), FreeIPA, Gluu, Keycloak, MidPoint, OpenAM and OpenDJ that offer services such as Directory and Provisioning services that are offered in the paid Identity and Access Management Solutions as well. The offering of IAM solutions free of cost benefits Small and Medium Enterprises as they might be cash-strapped and hence adds a bead to their security.

The open source IAM software solutions come as a blessing in disguise to the Small and Medium Enterprises as they offer the same services and products offered by the paid vendors, free of cost and enables the SMEs to focus on spending on other software services. The open source Identity and Access Management Solutions offer cost benefits and hence becomes the preferred choice of IAM solutions for many SMEs and even the larger compatriots and hence acts as a challenge for the Identity and Access Management Solutions vendors to offer innovative and value added services at lesser price tags.

Scalability issues

The High price perception of Identity and Access Management solutions by the consumers aided by Lack of compelling use-cases and viable business models are the primary reasons affecting the uptake of Identity and Access Management technology as a viable business option and hence are not concentrated by the major vendors as a result of which the Identity and Access Management market is highly fragmented with a few number of market players coming up with feasible solutions that solve real-world problems, while others are seen as a POC (Proof of Concept) solutions that lacks a viable reason for existence.

These factors in addition to the factors such as Ambiguous ROI which is as a result of fragmention of technology stacks across various vendors causes Scalability issues for the mass-adoption of the Identity and Access Management Solutions.

Lack of Skilled Professionals

There is an emerging trend of dearth of skilled professionals in the Identity and Access Management segment and this trend is expected to further worsen as demand of skilled professionals outpaces the supply, the shortage of skilled professionals in the Identity and Access Management space is being felt due to the lack of knowledge on the IAM technology and lack of investments by employers for upskilling their employees on the Identity and Access Management technology.

Also the lack of skilled professionals is due to the fact that IAM is an emerging technology and lack of interest by professionals to skill themselves with the technology. USA and other developed economies are the worst-hit with the skill shortage in the IAM domain.

Technology Trends

Microservices

IAM vendors are adding microservices components, which break the product down into specific modules that address different aspects of IAM. ForgeRock, for example, is developing microservices that target token exchange, token validation, authorization and authentication. Microservices offer more flexibility in managing user identity data since they can run in a self-contained mode and don't require an embedded OS.

Machine learning

AI and machine learning in IAM tools is another major trend. Many IAM vendors add behavioral data analysis through machine learning to improve security tactics. For example, machine learning can analyze user login attempts and detect suspicious behavior, such as password guessing. Ping Identity uses AI-driven analysis to monitor an organization's API activity.

Other Key Market Trends

Real-world Applications of IAM Solutions

The expansion of the IAM solutions has provided huge benefits to the organization in terms of meeting the growing regulatory compliance reforms and secured access to the employees, reducing the data breaches. It also decreases the burden on the IT department due to the self-service functionality offered by the solutions. IAM delivers secure ways to authorize, authenticate, and manage users without compromising on usability and convenience. It provides the flexibility the enterprises require to accommodate the latest technologies and trends extending their businesses outside the traditional perimeter.

Market Size and Forecast

North America

North America led the market with a market share of over 38% in terms of revenue. Favorable regulatory scenario is the primary factor stimulating the regional growth. For instance, according to the National Conference of State Legislatures, in 2017, around 240 bills related to cybersecurity were introduced by 42 states in the U.S. to address cyber security issues. Through this regulatory bill, states in the country will address cybersecurity concerns by taking different initiatives.

These initiatives include combating threats to critical infrastructure, providing more funding for improved security measures, and enforcing regulations to implement specific types of security practices in government agencies as well as at private business. Several federal agencies in U.S. have incorporated strong authentication requirements, such as hardware-based personal identification verification cards, for their employees for accessing government IT infrastructure and networks.

USA IAM Market Size

  • USD 2.99 Billion – The estimated market size of the US IAM Market in 2018
  • 11.1% - The CAGR growth rate of the US IAM market in the forecast period 2018 to 2023
  • USD 5.06 Billion- The expected market size of the US IAM Market in 2023

Canada IAM Market Size

  • USD 598.6 Million – The estimated market size of the Canadian IAM Market in 2018
  • 11.2% - The CAGR growth rate of the Canadian IAM market in the forecast period 2018 to 2023
  • USD 1.02 Billion- The expected market size of the Canadian IAM Market in 2023

Latin America

The Latin America identity and access management market has been pegged at USD 739.9 million in the year 2018 and is growing at 13.2% annually and is projected to reach USD 1.38 billion by the end of the year 2023.

The Latin American identity and access management market constitutes 7.12% of the global identity and access management market in the year 2018 and is expected to reach 8.18% by 2023.

Brazil IAM Market Size

  • USD 221.7 Million – The estimated market size of the Brazilian IAM Market in 2018
  • 12.6% - The CAGR growth rate of the Brazilian IAM market in the forecast period 2018 to 2023
  • USD 401.29 Million- The expected market size of the Brazilian IAM Market in 2023

Mexico IAM Market Size

  • USD 224.3 Million – The estimated market size of the Mexican IAM Market in 2018
  • 13.2% - The CAGR growth rate of the Mexican IAM market size in the forecast period 2018 to 2023
  • USD 416.93 Million- The expected market size of the Mexican IAM Market in 2023

Argentina IAM Market Size

  • USD 186.5 Million – The estimated market size of the Argentinian IAM Market in 2018
  • 13.4% - The CAGR growth rate of the Argentinian IAM market in the forecast period 2018 to 2023
  • USD 349.74 Million- The expected market size of the Argentinian IAM Market in 2023

Asia-Pacific

Asia Pacific Identity and Access Management (IAM) Market revenue in 2018 was evaluated to be USD 3.15 billion and is projected to grow at a CAGR of over 15% by 2023.

China IAM Market Size

  • USD 1.26 Billion – The estimated market size of the Chinese IAM Market in 2018
  • 14.2% - The CAGR growth rate of the Chinese IAM market in the forecast period 2018 to 2023
  • USD 2.45 Billion- The expected market size of the Chinese IAM Market in 2023

India IAM Market Size

  • USD 882.4 Million – The estimated market size of the Indian IAM Market in 2018
  • 14.6% - The CAGR growth rate of the Indian IAM market size in the forecast period 2018 to 2023
  • USD 1.74 Billion- The expected market size of the Indian IAM Market in 2023

Japan IAM Market Size

  • USD 705.6 Million – The estimated market size of the Japanese IAM Market in 2018
  • 14.8% - The CAGR growth rate of the Japanese IAM market in the forecast period 2018 to 2023
  • USD 1.40 Billion- The expected market size of the Japanese IAM Market in 2023

Europe

The Europe Identity and Access Management is expected to attain a market size of USD 4.65 billion by 2023, growing at a CAGR of 13.3% during the forecast period (2018 TO 2023). The prime factors influencing the IAM market are government regulations, increasing cyber-attacks, and growing popularity of bring your own device (BYOD). Various mobility trends within the organizations have contributed to the growth of the end user device authentication security.

UK IAM Market Size

  • USD 996 Million – The estimated market size of the UK IAM Market in 2018
  • 13.2% - The CAGR growth rate of the UK IAM market size in the forecast period 2018 to 2023
  • USD 1.85 Billion- The expected market size of the UK IAM Market in 2023

Germany IAM Market Size

  • USD 697.2 Million – The estimated market size of the German IAM Market in 2018
  • 13.3% - The CAGR growth rate of the German IAM market in the forecast period 2018 to 2023
  • USD 1.30 Billion- The expected market size of the German IAM Market in 2023

France IAM Market Size

  • USD 557.7 Million – The estimated market size of the French IAM Market in 2018
  • 13.6% - The CAGR growth rate of the French IAM market in the forecast period 2018 to 2023
  • USD 1.05 Billion- The expected market size of the French IAM Market in 2023

Middle East and Africa

The identity and access management market in Middle East and Africa (MEA) has been pegged at USD 1.12 billion in the year 2018 and is growing at 16.2% annually and is projected to reach USD 2.37 Billion by the end of the year 2023.

The MEA identity and access management market constitutes 7.74% of the global identity and access management market in the year 2018 and is expected to reach 10.75% by 2023.

Saudi Arabia IAM Market Size

  • USD 392 Million – The estimated market size of the Saudi Arabian IAM Market in 2018
  • 16.2% - The CAGR growth rate of the Saudi Arabian IAM market in the forecast period 2018 to 2023
  • USD 830.46 Million- The expected market size of the Saudi Arabian IAM Market in 2023

UAE IAM Market Size

  • USD 274.4 Million – The estimated market size of the UAE IAM Market in 2018
  • 16.1% - The CAGR growth rate of the UAE IAM market in the forecast period 2018 to 2023
  • USD 578.82 Million- The expected market size of the UAE IAM Market in 2023

South Africa IAM Market Size

  • USD 219.52 Million – The estimated market size of the South African IAM Market in 2018
  • 16.4% - The CAGR growth rate of the South African IAM market in the forecast period 2018 to 2023
  • USD 469.07 Billion- The expected market size of the South African IAM Market in 2023
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Market Outlook

The market size of the Global Identity and Access Management market is estimated to be USD 10.31 Billion in 2018 and is expected to reach a market size of USD 18.89 Billion in 2023 growing at a rapid growth rate of 12.9% in the forecast period 2018 to 2023

The provisioning segment holds the highest revenue in the IAM solution market and is anticipated to reach USD 6.72 billion by 2023. Provisioning is the process of creating and handling access to resources in a diversified IT environment, ensuring the creation of new accounts and access to data is reliable and secured.

The password management segment in identity and access management market is rising at a steady rate and is projected to grow at a CAGR of 13.2% over the forecast timeline (2018 to 2023). The major factors driving the growth of the password management solutions include the rising demand from SMEs, stringent regulatory compliance, and risk management environment.

The on-premise deployment model dominated the identity and access management market with an industry share of 84% in 2018. The on-premise model delivers continuous and secured access to various applications, driving their demand.

The cloud-based identity and access management market is growing at the fastest rate and is projected to grow at a CAGR of 16.8% over the forecast period. The rising demand for cost-effective, scalable, and flexible solutions has spurred the popularity of cloud-based solutions.

The public sector and utilities segment dominate the identity and access management market and held around 23.8% of the industry share in 2018. The major factors contributing to the growth include the rapid increase in the cyberattacks and digital transformations such as cloud computing, real-time data access to customers, and automated infrastructures.

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Technology Roadmap

Multi-Factor Authentication (MFA)

Multi-factor authentication is one of the emerging areas of identity and access management industry. MFA can protect systems and programs from phishing. It requires different independent security or authentication methods that determine login, identity and access or other transactions. Multi-factor authentication requires the user to present two or more verifications or confirmations to prove identity.

Distribution Chain Analysis

A typical Identity and Access management system comprises four basic elements:

  • a directory of the personal data the system uses to define individual users (Example: ID repository);
  • a set of tools for adding, modifying and deleting that data (the access life cycle management);
  • a system that regulates user access (enforcement of security policies and access privileges); and
  • an auditing and reporting system (a way to verify what's actually been happening on the system).
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Competitive Landscape

The global identity and access management market is categorized by the existence of a large number of identity access, authorization, and authentication management providers. Various companies operating in this IAM market have adopted the business strategy of mergers and acquisitions to expand their customer base and gain a competitive edge in the market.

For instance, in May 2017, Gemalto, the international digital security company acquired 3M’s identity management business. This acquisition will enable the company to offer advanced security features by adding biometric technologies and related advanced security features to their portfolio.

Competitive Factors

Some of the Competitive Factors in the IAM Market include:

R&D Investments

Research and development (R&D) is the part of a company's operations that seeks knowledge to develop, design, and enhance its products, services, technologies, or processes. Along with creating new products and adding features to old ones, investing in R&D connects various parts of a company's strategy and business plan, such as marketing and cost reduction.

Competitive Pricing

Competitive pricing is the process of selecting strategic price points to best take advantage of a product or service based market relative to competition. This pricing method is used more often by businesses selling similar products since services can vary from business to business, while the attributes of a product remain similar. This type of pricing strategy is generally used once a price for a product or service has reached a level of equilibrium, which occurs when a product has been on the market for a long time and there are many substitutes for the product.

Key Market Players

Ping Identity Corporation provides cloud identity security solutions. The Company offers solutions to support customer, employee, partner, and consumer application access in public and private cloud deployments while reducing passwords.

Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company’s cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license. Its Software as a Service offerings include a suite of cloud software applications, including enterprise resource planning, human capital management, customer experience, and supply chain management, among others, as well as cloud-based industry solutions.

Centrify Corporation develops security software. The Company delivers integrated software solutions that centrally control, secure, and audit access to cross-platform systems and applications.

Avatier Corporation provides identity and access risk management solutions. It offers Identity and Access Governance Suite that enables business line managers to take control of the identity life cycle; user provisioning solutions, such as Identity Enforcer and Group Requester that enable to streamline, expedite, and protect the resources; and Avatier Apollo, an artificial intelligence virtual customer assistant for Customer Identity and Access Management and Identity Governance and Administration platforms. The company also offers access governance solutions, including Compliance Auditor and Group Enforcer to eradicate group risk and access certification issues; risk Intelligence products, such as Identity Analyzer that allows an organization see various user accesses in an environment with disabled and activities for privileged accounts; Password Management solutions, including Password Station and Password Bouncer to reset passwords and enforce password policies management; and Avatier Identity Management Suite for IT store intelligence and risk mitigation.

LogMeIn, Inc. provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses. The company offers GoToConference, a video and audio conferencing solution; GoToMeeting, a product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, an online training product for interactive training sessions; GoToWebinar, a do-it-yourself Webinar product for organizations; Grasshopper telephony solution; Jive, a cloud-based phone service; join.me, join.me pro, and join.me business, which are online meeting and screen sharing services; and OpenVoice, a reservation-less audio conferencing service.

Gemalto N.V. provides digital security products and services worldwide. The company operates through two segments, Identity, IoT & Cybersecurity; and Smartcards & Issuance. It designs security solutions to governments, industrial companies, and enterprises; and ePassports, border and visa management, biometrics, ID and health cards, voter and vehicle registration, drivers’ licenses, and eGovernment support services. The company also offers machine-to-machine, and Internet of Things solutions and services; encrypting data, securing identities, and managing access services; and software licensing solutions.

Beyondtrust Corporation develops and markets enterprise security products. The company’s products include BeyondTrust Privilege Manager, which enables organizations to remove administrator rights and allow end-users to run Windows applications, processes, and ActiveX controls; and BeyondTrust Application Rights Auditor that identifies and reports the Windows applications that require users to have administrative rights. Its solutions enable organizations to remove administrator rights; allow restricted users to self install approved applications and ActiveX controls; and centralize control and network administrations. The company serves organizations in financial services, insurance, healthcare, energy/chemical, government, military, technology, education, and legal industries, as well as associations.

Fischer International Identity, LLC provides identity management software for outsourced and on-premise environments. The company offers multiple delivery models, such as Software as a Service (SaaS), Single-Tenant Hosted, and Fischer Administration.

Simeio Limited develops a cloud-based platform to monitor, manage, and report risks associated with construction projects using biometric data. It offers cloud-based Site Roster Control Platform, which records biometric data in real time to give users an overview of human activity on projects in construction, waste management, quantity surveying, payroll software, banks, and labor agencies. Its software collects data on time and attendance, health and safety compliance, environmental impact, and project risk management.

SailPoint Technologies Holdings, Inc. designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments. Its solutions include IdentityIQ, an on-premises identity governance solution; IdentityNow, a cloud-based multi-tenant governance platform; IdentityIQ File Access Manager that secures access to data stored in file servers, collaboration portals, mailboxes, and cloud storage systems; and IdentityAI, a cloud-based identity analytics solution for organizations to detect potential threats before they turn into security breaches.

Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle

OneLogin, Inc. operates as a software development company. The Company provides identity and access management solutions. OneLogin offers solutions that consists of single sign-on, multi-factor authentication, directory integration, compliance, and pre-integrated applications.

ForgeRock AS provides open-source identity and access management solutions for enterprises. The company offers Open Identity Stack, an identity relationship management platform that delivers the next generation of identity and access management for protecting enterprise, cloud, social, and mobile systems. Its Open Identity Stack solution features OpenAM, an open-source access management solution for Web, cloud, and mobile devices; OpenDJ, an open-source big data platform that combines the security of a proven directory with the accessibility of a database; and OpenIDM, an open-source provisioning solution that allows organizations to automate their user identity lifecycle management in real time.

Strategic Conclusion

The Global Identity and Access Management market is forecast to grow at a CAGR of 12.9% from USD 10.31Billion in 2018 to USD 18.89 Billion in 2023.

The major challenges pricking the growth of the Global Identity and Access Management market includes Availability of Open Source Solutions, Scalability issues and Lack of Skilled Professionals

The growth of the market is restrained by factors such as Lack of information security of consumer data, Complexity in Provisioning and Deprovisioning of identity, Inconvenience in managing distributed workforce and Difficulties in collaborating with Internet of Things.

The growth of the Global Identity and Access Management market is augmented by Drivers such as Increased spending on security solutions by government bodies, Increase in security concerns among organizations, Increasing demand for mobility solutions and connected devices and Rapid adoption of Cloud-based Technologies

Further Reading

Appendix

  • IAM - Identity and Access Management
  • USD - US Dollar
  • CAGR - Compounded Annual Growth Rate
  • SaaS - Software-as-a-Service
  • PaaS - Platform-as-a-Service
  • IaaS - Infrastructure-as-a-Service
  • BYOD - Bring Your Own Device
  • HIPAA - Health Insurance Portability and Accountability Act
  • SSO - Single Sign-On
  • SMB - Small-to-Medium-Business
  • ACL - Access Control Lists
  • RAC - Role-based Access Control
  • ABAC - Attribute-based Access Control
  • IoT - Internet of Things
  • CAS - Central Authentication Service
  • POC - Proof of Concept
  • MFA - Multi-Factor Authentication


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