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

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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
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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.

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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.

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

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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.

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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.

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Industry Coverage

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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.

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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.

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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
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