Identity and Access Management Market Valuation Likely to

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London, Nov. 30, 2022 (GLOBE NEWSWIRE) — An alarming rise in number of cybersecurity threats are primarily driving the expansion of identity and access management market worldwide. Growing ubiquity of work from home/remote/hybrid work models have further been influencing the performance of market recently, suggests a recently released study of Fairfield Market Research. These models however question the security of both employers, and employees, marks the report. This is where the critical need for effective, and efficient identity and access management arises, which in turn accelerates expansion of global identity and access management market. BFSI sector will be the top adopter of identity and access management solutions according to the report, followed by healthcare industry. Toward the end of forecast period 2021 – 2026, global identity and access management market is expected to reach US$24.8 Bn.

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Key Research Insights

The market recorded revenue of over US$10 Bn in 2019 and is all set for staggering 2.4x expansion by the end of 2026
Cloud-based deployment remains preferred with over 75% revenue share
Identity lifecycle management solutions remain most sought-after, accounting for more than 19% market value share
North America retains lead with more than 29% revenue share in global identity and access management market

Insights into Segmental Analysis

Contributing the revenue of around US$7.5 Bn in 2019, cloud registered its lead in identity and access management market with a market share of more than 3/4^th of the overall revenue. On the other hand, the report reveals that BFSI sector will remain the leading vertical segment, representing over 29% market value share. IT, and ITeS follow, recording market share of more than 27%, and 15%, respectively. Market analysis also shows that the demand for identity lifecycle management solutions will be the maximum, closely followed by the next key segments, i.e., access management and authorization, authentication, data directory, and password management solutions.

Key Report Highlights

In addition to the rocketing number of instances related to cybersecurity breaches, the market will receive a strong impetus from growing emphasis on compliance management
Rising integration of next-generation technologies like AI, machine learning, Blockchain, and biometrics will heavily contribute toward market growth. Advent of cloud-based identity and access management solutions, and surging popularity of hybrid-cloud further heighten market prospects
The market will continue to face a massive cybersecurity talent gap in long term

Insights into Regional Analysis

North America has been witnessing exponential rise in cybersecurity threats and will remain at the forefront of demand generation in global identity and access management market. The market here will continue to benefit from an established cybersecurity infrastructure, and strong active presence of some of the globally leading vendors of the cybersecurity space. Asia Pacific is all set for an excellent prospect on the back of deepening Internet and smartphone penetration, and growing stringency of compliance regulation. The report anticipates fastest growth of identity and access management market in Asia Pacific, led by China, India, Japan, and Singapore. The SME world spread across the region reportedly employs over 70% of the total regional population and thus it becomes imperative for businesses to prioritize investments in reliable measures like identity and access management solutions and services. Expensive capital investments however remain the key factor challenging rapid expansion of the market in Asia Pacific.

Key Companies in Global Identity and Access Management Market

Microsoft Corporation, IBM Corporation, Oracle Corporation, Micro Focus (NetIQ Corporation), Centrify Corporation, Dell Emc, Okta, Inc., CA Technologies, Hitachi Id Systems, Inc., Sailpoint Technologies, Inc., Archer Daniels Midland Company

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REPORT SCOPE

Report Attributes	Details
Base Year	2020
Forecast Year	2021 – 2026
Market Size in 2019	US$10.1 Bn
Estimated Market Size in 2026	US$24.8 Bn
CAGR	14.8%
Key Players	Microsoft Corporation, IBM Corporation, Oracle Corporation, Micro Focus, Centrify Corporation, Dell Emc, Okta, Inc., CA Technologies, Hitachi Id Systems, Inc., Sailpoint Technologies, Inc.

Market Segmentation

Deployment Coverage

Components Coverage

Verticals Coverage

BFSI
Travel and Hospitality
Healthcare
Retail and eCommerce
IT and ITeS
Education
Others (Energy and Utilities, Telecommunication, Other Citizen Services)

Solution Coverage

Data Directory
Identity Lifecycle Management
Provisioning
De-provisioning
Authentication
Password Management
Access Management and Authorization
Audit, Compliance, and Governance

Geographical Coverage

North America
Europe
Latin America
Middle East & Africa
Asia Pacific

Leading Companies

Archer Daniels Midland Company
Microsoft Corporation,
Sailpoint Technologies, Inc.,
Oracle Corporation,
DELL
IBM
HITACHI
CA Technologies
Okta
Centrify Corp
Micro Focus

Report Inclusions

Market Estimates and Forecast
Market Dynamics
Industry Trends
Competition Landscape
Deployment-wise Analysis
Component-wise Analysis
Vertical-wise Analysis
Solution-wise Analysis
Region-wise Analysis
Country-wise Analysis
Key Trends Analysis
COVID-19 Impact Analysis

About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

Contact

Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com

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