Identity and Access Management Marketm

Identity
and Access Management Market Trends, Analysis & Forecast, 2032

As per a recent
research report, Identity
and Access Management Market to surpass USD 45 Bn by 2032.

Identity and Access Management (IAM) Market
is projected to expand exponentially through 2032. The growth is credited to
the rising digitization, which has increased the adoption of connected device
technology, including IoT, BYOD, and cloud computing. These devices offer
improved productivity, reduced hardware costs, and enhanced employee
satisfaction, further augmenting the demand for IAM solutions.

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In addition,
increased mobile penetration, rising demand for employee mobility software, and
the rising importance of mobility service management are also expected to drive
the IAM market expansion by 2032.

The IT
infrastructure and its operation have undergone a significant change given the
expanding digitization and technical breakthroughs. Besides, given the growing
mergers and acquisitions or geographic divisions, organizations operating in
identity and access management industry are introducing more advanced
solutions, enabling them to secure a competitive edge. However, integrating
these multiple processes is expensive, time-consuming, and risky, which is
expected to act as a barrier for market expansion.

Nevertheless, the
rising demand for cloud computing technology has led to minimizing the reliance
on network access controls and increased dependence on logical access control
solutions provided by IAM, which is further estimated to escalate the market
growth by 2032.

Overall, the
identity and access management (IAM) market is bifurcated in terms of solution,
deployment model, application, and regional outlook.

Considering the
solution, the provisioning solution segment is expected to register 11.5% CAGR
by 2032. The software offers augmented identity and access management features
to clients, employees, and partners, which assists them in attaining the
provisioning and de-provisioning of computing resources. Besides, the rising
demand for efficient provisioning solutions and the traction of security and
risk mitigation solutions are expected to propel market growth.

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Considering the
application, the BFSI segment is anticipated to witness massive growth over the
forecast period. IAM solutions are critical for creating secure and reliable IT
security in the banking sector. The segment held more than 19.5% revenue share
in 2022.

Regionally, the
North America IAM market share is anticipated to grow by 11% CAGR over
2023-2032. The growth will be attributed to the rising adoption of connected
devices including IoT, BYOD, and cloud computing and the increasing use of
mobile applications in the region. In addition, stringent programs and
investments made by the government in R&D to discover the best practices
for protecting user data will be a contributing factor in the regional
expansion.

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