Sarasota, FL, Dec. 11, 2017 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Identity and Access Management Market by Component (Provisioning, Single Sign-On, Advanced Authentication, Audit, Compliance & Governance, Directory Services, Password Management) by Deployment Type (On-Premise, Cloud) for Banking, Financial Services, Healthcare Sector, Manufacturing Sector, Telecommunication & IT Sector, Education Sector and Other Industry Verticals. Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022″. According to the report, the global identity and access management market was valued USD 7.85 billion in 2016 and is expected to reach around USD 15.92 billion by 2022, at a CAGR of 12.50% for the forecast period from 2017 to 2022.
Identity and access management manage the user’s authentication, authorization and rights to access the system or premises within the organization or across the organization. These solutions are deployed to maintain high security and to minimize downtime, redundancy in various tasks and the cost involved in access management. The modern IT environment is highly complex as large numbers of user’s access on-premise and cloud applications making the authentication process difficult. Identity and access management has recently emerged as a critical base for the business which has many benefits in terms of cost savings, management control, efficiency, productivity, and business growth. The market for identity and access management is anticipated to expand at a CAGR of 12.50% during the forecast period from 2017 to 2022 and the market is expected to reach approximately USD 15.92 billion in terms of revenue by 2022.
Browse through 42 Tables & 36 Figures spread over 110 Pages and in-depth TOC on “Global Identity and Access Management Market: By Type, Size, Applications, and Forecast 2016 – 2022”.
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The demand for identity and access management has increased in recent years as the number of unauthorized access and other security concerns have increased at workplaces. Further, organizations are demanding new advanced technologies in terms of security such as sound artificial intelligence solution for proper management of their security systems. Data security is a major concern as a huge amount of data is generated every day in an organization; thus, protecting high profile data has become the key driver for the growth of this market. Further, as most of the organizations are highly dependent on automated systems and web-based applications there is an increasing demand for identity and access management solutions. However, a new improvement in advance technology and lack of skilled intellectual are some of the factors which are restraining the growth of this market.
In terms of revenue, North America had the highest market share of around 40% in the global identity and access management market in 2016. The region is further expected to dominate the global identity management market in the forecast period. High adoption of new advanced technology in the North American market and major investments by the government has resulted in increasing demand for new and advanced versions of identity and access management. Further, the presence of some of the key players such as IBM Corporation, Oracle Corporation, and C.A Technologies in this region is a major driving factor for identity and access management market in this region.
Browse the full “ Identity and Access Management Market by Component (Provisioning, Single Sign-On, Advanced Authentication, Audit, Compliance & Governance, Directory Services, Password Management) by Deployment Type(On-Premise, Cloud) for Banking, Financial Services, Healthcare Sector, Manufacturing Sector, Telecommunication & IT Sector, Education Sector and Other industry verticals. Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022″ report at https://www.zionmarketresearch.com/report/identity-access-management-market
European market contributes around 30% of the market share in the global identity and access management market. The major countries in this region are UK, France, and Germany. In the last couple of years, the European market growth around 13% per year in the identity and access management market which is expected to increase in the coming few years.
Asia Pacific is expected to be the fastest growing region in terms of adoption of identity and access management solutions. Some of the countries with highest economic growth such as China and India are present in this region. The major developments in high-speed network and connectivity sector and a large number of IT infrastructure are the key drivers for the growth of the market in this region. Presently this region contributes around 25% of the revenue market share.
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Further, Latin America is another major region for identity and access management market. The cloud technology and the mobility are the key drivers. The projected average growth rate for this region is around 20% for the next few years.
The Middle East and Africa witnessed a moderate growth rate of around 23% per annum from 2014 to 2016. They contribute around 11% in the global identity and access management market. Increase in the number of users on the cloud-based networks is the key driver for the growth of the identity and access management market in this region.
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Some of the leading companies in the global identity and access management market are SailPoint Technologies, IBM Corporation, C.A Technologies, Oracle Corporation, Dell EMC, Citrix, NetIQ Corporation, Hitachi ID Systems, Microsoft Corporation, Okta, Inc., and Symantec Software Solutions Pvt Ltd. among others.
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The report segments Identity and Access Management Market into:
Global Identity and access management: Component Segment Analysis
- Single Sign-on
- Advanced Authentication
- Audit Compliance and Governance
- Directory Services
- Password Management
Global Identity and access management Market: Deployment Segment Analysis
Global Identity and access management Market: Industry Vertical Segment Analysis
- Banking and Financial Sector
- Healthcare Sector
- Manufacturing Sector
- Telecommunication and IT Sector
- Media and Entertainment Sector
- Education Sector
Global Identity and access management Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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