Identity and Access Management Market Analysis by Trends, Technology, Demand and Competitive Strategies to 2025

Identity and access management market growth is anticipated to be driven by the growing need to curb increasing identity thefts and save organization-critical information. In terms of revenue, identity and access management industry size is expected to surpass USD 20 billion by 2025.

Surge in public-private collaboration across developing countries are presenting sound business cases for identity and access management market. Moreover, rise in number of cybercrime incidents on a global scale will further increase IAM penetration in corporate sector.

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Growing security requirement in corporate sector owing to shifting preference towards BYOD (bring your own device) has increased the associated risk of data thefts, which is expected to foster growth of identity and access management market share over the coming years. Utilization of IAM solutions help to improve employee satisfaction, enhance productivity, and reduce hardware costs across organizations.

With rise in number of identity theft cases, enterprises of all sizes are investing heavily in identity and access management solutions to improve their security posture. In addition, organizations are also engaging in strategic alliances to better handle identity governance concerns. For instance, Ping Identity partnered with SailPoint Technologies in 2018, in order to provide secured access to various on-premise and hybrid IT applications.

Growing demand for connected workplaces across various industry verticals to supplement employee satisfaction and enhance productivity is estimated to boost identity and access management market share over the analysis period. With rise in connected workplace culture, an escalating demand for IAM has been witnessed.

All in all, boom in digitalization, enhanced adoption of big data, IoT solutions, and cloud-computing is slated to characterize identity and access management market trends over the years ahead.

Latin American identity and access management market is estimated to showcase exponential growth rate of more than 13% CAGR over the projected timeframe. Latin America represents lucrative opportunities for identity and access management industry growth. The region is currently experiencing unrestricted growth in terms of technology development. However, increasing connectivity in personal, urban, and corporate settings along with heavy reliance on technology has resulted in vulnerabilities giving rise to cyberthreats across the region.

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For instance, Okta entered into a cloud identity alliance with an enterprise cloud infrastructure & workplace software provider, VMware in 2018. As per the new alliance, Okta identity cloud solutions will be integrated with VMware’s Workplace ONE in order to facilitate secure cloud migration. This will help to address issues surrounding identity and access management security on the cloud, profiting organizations through connected workplace & enhanced productivity. 

This strategic alliance will facilitate the companies to deliver simplified identity access and governance solutions to various businesses, which, in turn, will ensure provisioning of secured access to the right people. Owing to security reasons, both public and private corporations are investing in IAM solutions, which will provide impetus to global identity and access management market growth.

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