Identity and Access Management Market

Key Market Overview:

The Identity and Access Management Market was valued at USD 12.45 Billion in 2022, registering a CAGR of 12.08% during the forecast period (2023-2030), and the market is projected to be worth USD 31.00 Billion by 2030.

Identity and access management (IAM) is referred as framework of policies and technologies to manage end-to-end lifecycle of user identity and entitlement across all business operations. IAM is used to regulate the access of system, data, and network by providing control of cloud security. The management system enables the organizations to implement zero trust strategy to establish user identity. Additionally, IAM helps to manage digital identities of users and enables the administrators to track user activities to ensure appropriate access to company resources.
The increasing concern related to cybercrime activities is driving the growth of identity and access management solution. Additionally, rapid adoption of cloud-based deployment for appropriate access to technology resources is promoting the growth of identity and access management market.
Furthermore, growing implementation of advanced technologies including artificial intelligence and blockchain technology is propelling the growth of identity and access management market. The organizations are focusing on investments and fundings to increase the product demand and to regulate data security resulting to boost the growth of identity and access management market. For instance, in July 2020, Auth0 Identity Platform, product unit in Okta, raised the funding of USD 120 Billion in Series F funding for business expansion and to provide secure access to any applications.

Identity and Access Management Report Coverage:

Report Attributes	Report Details
Study Timeline	2017-2030
Market Size in 2030 (USD Billion)	31.00 Billion
CAGR (2023-2030)	12.08 %
Base Year	2022
By Component	Solution and Services
By Deployment	On-premises and Cloud
By Organization Size	Large Enterprise and Small & Medium Enterprise
By End User	BFSI, IT & Telecom, Healthcare, Retail, and Others
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Amazon Web Services, IBM Corporation, Oracle Corporation, Microsoft Corporation, Salesforce, Beta Systems, Thales Groups, Avatier, ForgeRock, Symantec, Crossmatch, Fischer Identity, Caentrify, Core Security, CyberArk, HP Development Company L.P.

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Market Dynamics:

Driver:

Rising security concern and rapid adoption of advanced technologies including artificial intelligence and blockchain technology, are driving the growth of identity and access management market.

Rising security concern and rapid adoption of advanced technologies including artificial intelligence and blockchain technology, are driving the growth of identity and access management market. The increasing cybercrime events and fraudulent activities are promoting the growth of identity and access management market to ensure data privacy and security. Additionally, rising adoption of advanced technologies including blockchain technology and artificial intelligence is promoting the growth of identity and access management market. The governments and organizations are implementing blockchain technology integrated with IAM solution to ensure secure access to the data. For instance, since November 2017, Zug, city of Switzerland started offering blockchain based digital identity cards to the citizens. The blockchain based digital identity cards are the alternative to the identity management services provided by big companies including Google, Facebook, and others.

Restraint:

Risk associated with stored data and lack of skilled professionals is hampering the growth of identity and access management market.

Risk associated with stored data and lack of skilled professionals is hampering the growth of identity and access management market.
Failure to store data including personal information and authentication credentials resulting to data breaches is hindering the growth of identity and access management market. Additionally, lack of skilled professionals for implementing IAM services is hampering the growth of identity and access management market.

Identity and Access Management Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global Identity and Access Management Market. Key players in the market include-

• Amazon Web Services
• IBM Corporation
• Oracle Corporation
• Microsoft Corporation
• Salesforce
• Beta Systems
• Thales Groups
• Avatier
• ForgeRock
• Symantec
• Crossmatch
• Fischer Identity
• Caentrify
• Core Security
• CyberArk
• HP Development Company L.P.


Recent Developments:

• In August 2019, Beta Systems collaborated with Pure IT Associates, a British IT consulting company. The collaboration offers comprehensive portfolio of identity and access management system for medium sized enterprises to ensure efficient surety of data and applications.

• In December 2021, ForgeRock launched new customer identity features as organization and themed users journeys to offer unified system for managing the identities.

Identity and Access Management Market Segmentation:



By Component

The component segment is divided into Solution and Services.
Services segment accounted major market share for identity and access management market owing to wide functionalities offered by services. The services segment includes provisioning, directory services, advanced authentication, and others.
Services segment is expected to grow during the forecast period due to rising adoption of cloud-based services and advanced technologies to ensure data privacy and security. For instance, OneLogin, identity management provider collaborated with Amazon Web Services to enable the organization to seamlessly manage digital identities of workforce and customers from the cloud.

By Deployment

The deployment segment is bifurcated into On-premises and Cloud.
Cloud segment holds largest revenue share for identity and access management market in the year 2022 due to rising adoption of cloud-based deployment for security system. Additionally, cloud-based solution provides cost effective model resulting to rise the growth of cloud deployment segment in identity and access management market.
Cloud deployment is projected to grow during forecast period. The organizations are rapidly adopting cloud deployment for identity and access management services. For instance, in March 2021, according to study conducted by ForgeRock, a leader in digital identity and Google Cloud, 80% of global IT decision makers have adopted cloud-based identity and access management. Additionally, the cloud vendors including Google Cloud, Microsoft Azure, and Amazon Web Services provide the facilities of SaaS, PaaS, and IaaS for identity and access management resulting to rise the growth of IAM market.

By Organization Size

The organization size segment is categorized into Large Enterprise and Small & Medium Enterprise.
Large enterprise segment accounted major market of identity and access management market in the year 2022. Large enterprises are rapidly adopting advanced technologies including artificial intelligence, machine learning, and blockchain technology to streamline business practices.
Small and medium enterprise segment is expected to grow during forecast period due to rising adoption of IAM services for data privacy and security. Additionally, expansion of business operations across different categories and industries by small and medium enterprises is driving the growth of identity and access management solution.

By End Use Industry

The end user segment is classified into BFSI, IT & Telecom, Healthcare, Retail, and Others.
BFSI segment holds major market share in identity and access management market due to increasing use of online payment methods, e-wallets, and internet banking solution. BFSI segment is rapidly adopting identity and access management solution to ensure data security by regulating appropriate access to the system.
Healthcare segment is expected to grow during forecast period due to rapid digitalization across healthcare segment including e-health applications, telemedicine, and others. The generation of large number for identities and patient data results to propel the demand of identity and access management systems across healthcare sector.

By Region

The regional segment includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
North America holds major market share of identity and access management market in the year 2022. The rapid adoption of cloud-based solution and remote working trend is driving the demand of identity and access management system. Additionally, presence of major market players including Amazon Web Services, Oracle Corporation, Microsoft Corporation, IBM Corporation, and others is boosting the growth of identity and access management market in North America. Moreover, the organizations are focusing on emerging technologies to improve capabilities of IAM system resulting to promote the growth of identity and access management market. For instance, in November 2022, ForgeRock launched new clou-native governance to solve security challenges for large enterprises.



Asia Pacific region is expected to grow during forecast period due to rising concern of cyberattacks and identity frauds. Additionally, rising technological developments including artificial intelligence, cloud computing, machine learning, and big data analytics are propelling the growth of identity and access management market in Asia Pacific region. Moreover, rapid adoption of cloud based solution is driving the growth of identity and access management market.