Identity and Access Management Market to cross $18.9bn by 2024 - PowerPoint PPT Presentation

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Identity and Access Management Market to cross $18.9bn by 2024

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Request Sample of Report @ The Asia Pacific identity and access management market is growing at the fastest pace and is projected to grow at a CAGR of 15.6% over the forecast timeline due to the rapid increase in cybercrimes, increased penetration of smartphones, growing demand for cloud-based solutions, substantial development in the industrial sector, and rising adoption of BYOD. The IoT adoption in 2013 was around 12 percent, which reached around 36 percent in 2017. Furthermore, as the region showcases huge growth potential, various companies operating in the IAM market are expanding their presence in this region to gain a higher customer base. – PowerPoint PPT presentation

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Title: Identity and Access Management Market to cross $18.9bn by 2024


1
Identity and Access Management Market in APAC to
see 15.6 CAGR till 2024 Global Market Insights
Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Key Insights from Identity and Access Management
Market
  • Identity Access Management (IAM) Market was
    estimated to be over USD 9.5 billion in 2017 and
    will exceed USD 18.9 billion by 2024 according
    to a new research report by Global Market
    Insights, Inc. The growing expansion of data
    theft among organizations worldwide is primarily
    driving the identity and access management market
    demand. Stolen employee access identification is
    a leading parameter of data breach and system
    hacking is projected to cost businesses around
    USD 2 trillion by 2019. They are responsible for
    about 88 of cyberattacks and will hamper the
    organizational functioning.
  • In 2016, the total cost related to identity theft
    was USD 16 million and is anticipated to grow due
    to the rising crime rates. Hence, to curb the
    growing identity theft, companies are investing
    funds and entering into strategic partnerships
    and acquisitions to improve their security
    portfolio.

3
Continued...
  • For instance, in June 2018, Ping Identity entered
    into a strategic partnership with SailPoint
    Technologies to provide secured access to various
    on-premise and hybrid IT applications. This
    partnership will enable the companies to deliver
    simplified identity access and governance
    solutions to various enterprises, providing
    secured access to the right people.
  • The prominence of compliance management in the
    identity and access management market is growing
    rapidly as it demonstrates the technologies and
    processes required to provide a more secure
    environment. IAM solutions are used for used for
    meeting multiple compliance requirements,
    accelerating the market growth. For instance, the
    Sarbanes-Oxley (SOX) of 2002 assists in making
    the corporate governance practices highly
    transparent by focusing on two parameters, the
    financial disclosure and corporate governance.
    The adoption of the solutions by organizations
    assists them in providing direct assistance for
    meeting SOX requirements for policy enforcement,
    fraud reduction, compliance auditing and
    reporting, and risk assessment.

4
Japan Identity and Access Management (IAM) Market
Size, By Solution, 2017 2024 (USD Million)

5

Browse Full Market Research Report On Identity
and Access Management Market _at_ https//bit.ly/28jA
Wr1 Request for a Sample of this Research
Report _at_ https//bit.ly/2pfFxdF
6
Continued...
  • The audit, compliance, and governance solution
    are rising at the fastest rate and is projected
    to grow at a CAGR of 16.1 over the forecast
    period. The increasing concerns regarding data
    breach and theft of sensitive enterprise
    information are the major factors driving the
    identity and access management market revenue.
    Furthermore, the rapid technological developments
    in cloud computing, IoT, and big data its
    implementation across enterprise compliance and
    governance also resulted in the greater adoption
    of the audit, compliance, and governance
    solutions.
  • For instance, the Payment Card Industry Data
    Security Standard (PCI DSS) launched in 2004 is
    also a privacy standard to optimize the security
    of debit, credit, and cash card transactions.
    This will protect the cardholders against the
    damage of their personal information. Any
    non-compliance to follow these standards results
    in huge penalties and hence organizations have
    increased their adoption of auditing, compliance,
    and governance solutions.

7
Continued...
  • The advanced authentication segment held around
    23.7 of the identity and access management
    market share in 2017, mainly due to factors such
    as increase in cybercriminal activities, rising
    security threats, BYOD policy in enterprises, and
    supportive government regulations. Increased
    usage of advanced authentication in various
    verticals, mainly BFSI, IT telecom, and
    healthcare, also contributes to the identity and
    access management market growth. Furthermore, the
    centralized policy engine in these systems
    assists in providing flexibility and consistency
    in authentication, fueling their market demand.
  • The cloud-based IAM provides the organizations
    with a single password to log-in into enterprise
    extensive systems and applications on which the
    employee is provisioned to log-in. It connects
    the enterprises to the cloud-based applications
    while offering required security services to
    various industry verticals including healthcare,
    BFSI, IT telecom, retail, and public utilities.

8
Industry Coverage

9
Continued...
  • The U.S. dominates the North American identity
    and access management market as security is a
    major parameter for the companies operating in
    this region. The country has encountered a large
    number of data breaches and hence the U.S.
    companies have largely increased their
    cybersecurity budgets, ensuring the safety and
    security of their information. Furthermore, the
    country is home to the leading IAM solution
    providers including companies such as IBM,
    Microsoft, Oracle, Dell, and Symantec.
  • These companies are involved in strategic
    partnerships and collaborations to expand their
    market presence and deliver enhanced security
    services to their customers. For instance, in
    March 2018, Biometric Signature ID (BSI), a U
    online biometric multi-factor authentication
    provider based in the U.S. partnered with
    companies including ICSynergy, ForgeRock, and
    Okta. This partnership will allow BSI customers
    to buy BioSig-ID software licenses, enabling them
    to authenticate and protect users and their
    online data.

10
Continued...
  • The Latin American identity and access management
    market is anticipated to grow at a CAGR of 13.1
    over the forecast timespan. Due to the increasing
    connectivity in personal, urban, and corporate
    environments, the dependence on technology and
    associated vulnerabilities has increased in this
    region giving rise to cyberthreats. Over the last
    decade, this region has witnessed huge
    digitalization with an enhanced adoption of big
    data, cloud computing, and IoT solutions,
    accelerating the identity and access management
    market demand.
  • Market expansion and extended business
    partnerships are the main strategies adopted by
    the enterprises operating in the identity and
    access management market. The prominent companies
    functioning in the identity and access management
    market include CA Technologies, Centrify
    Corporation, Crossmatch, Dell Inc., ForgeRock,
    Gemalto, IBM Corporation, iWelcome, Microsoft
    Corporation, Okta, Inc., Oracle, Ping Identity,
    SailPoint Technologies Holdings, Inc., and
    Symantec.

11
Table OF Content
Chapter 1. Methodology Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Scope 1.1.5. Definition 1.1.6.
Methodology and research parameters 1.2. Data
Sources 1.2.1. Primary 1.2.1.1. Paid
Sources 1.2.1.2. Public Sources 1.2.2.
Secondary Chapter 2. Executive Summary 2.1.
IAM industry 360º synopsis, 2013 - 2024 2.1.1.
Business trends 2.1.2. Regional trends 2.1.3.
Solution trends 2.1.4. Deployment model
trends 2.1.5. Application trends
12
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