Ocean View, DE -- (SBWire) -- 06/24/2020 --Increasing adoption of IoT technologies across businesses has apportioned massive earnings for the (IAM) identity and access management market, with enterprise operations becoming more digitized and data-driven. The deeper the digitization of an organization's functioning, the more susceptible it is to data breaches, security leaks, inside attacks and privacy threats. Consequently, the need for regulated data access and digital identification to comply with security mandates and eliminate various risks has created an ideal demand for the identity and access management industry.
Some of the most prominent contenders in the global identity and access management market include CA Technologies, Centrify Corporation, Dell, ForgeRock, Gemalto, HID Global, Hitachi, IBM, Microsoft, OpenText, Oracle, Siemens, Symantec, SailPoint.
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IAM industry has also received a considerable boost from robust investments in new artificial intelligence and machine learning solutions that are being undertaken for managing the rapid proliferation of identities and achieving least privileged access. For instance, recently Google established a collaboration with Facebook to develop their artificial intelligence to offer users a much better work experience.
The rapidly escalating growth in the telecom & IT sector is certain to impel identity and access management market. As the IT & telecom industry works with a large user base, it is essential for the service providers to maintain the security of the sensitive user data. According to a survey by The Communications Fraud Control Association (CFCA), the telecommunications industry experienced $38.1 billion in fraudulent charges in 2016. As per CFCA, cyber fraudsters are seemingly working to develop new ways to siphon money from renowned, well-established organizations of various sectors.
The aforementioned survey results are a strong indicator of the fact that the IT sector will serve to be one of the most profitable growth avenues for IAM market. By implementing IAM solution business could be shielded by fraudsters and hackers, eventually saving billions in remuneration for organizations. According to Global Market Insights, Inc., identity and access management market size from IT and telecom applications was worth USD 1,420 million in 2017 and is expected to register a commendable growth rate over the ensuing years.
North America is undoubtedly one of the most crucial regional generators for identity and access management market. In 2017, North America accounted for a mammoth 46% of the overall industry share, primarily on account of the changing workforce requirements and the surging adoption of cloud applications and BYOD. The U.S. the most dominant regional ground for North America IAM market, given that security is the foremost crucial parameter for the plethora of companies in the country.
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IAM solutions have proven to be effective in reducing challenges faced by organizations with regard to security and privacy such as data loss, data leakage, insecure usage, and insider attacks. IAM also decreases burden on the IT departments due to its self-service functionality. Driven by the fact that IAM delivers secure ways for authentication, authorization, and management of users without compromising on convenience and usability, the global identity and access management market share is anticipated to grow at a CAGR of 10.4% over 2018-2024.
Some Points From Table Of Content: -
Chapter 5. Identity and Access Management Market, By Solution
5.1. Key trends, by solution
5.2. Provisioning
5.2.1. Market estimates and forecast, 2014 - 2025
5.3. Password management
5.3.1. Market estimates and forecast, 2014 - 2025
5.4. Directory service
5.4.1. Market estimates and forecast, 2014 - 2025
5.5. Advanced authentication
5.5.1. Market estimates and forecast, 2014 - 2025
5.6. Single Sign-On (SSO)
5.6.1. Market estimates and forecast, 2014 - 2025
5.7. Audit, compliance and governance
5.7.1. Market estimates and forecast, 2014 - 2025
Chapter 6. Identity and Access Management Market, By Deployment Model
6.1. Key trends, by deployment model
6.2. On-premise
6.2.1. Market estimates and forecast, 2014 - 2025
6.3. Cloud
6.3.1. Market estimates and forecast, 2014 - 2025
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(IAM) Identity and Access Management Market 2020: Top Key Players Are CA Technologies, Centrify Corporation, Dell, ForgeRock, Gemalto, Hitachi, IBM, Microsoft, OpenText,
Increasing adoption of IoT technologies across businesses has apportioned massive earnings for the (IAM) identity and access management market