Identity & Access Management (IAM) Market Share, Size, Trends, Industry Analysis Report, By Deployment (Hybrid, Cloud, and On-premise); By Component; By End-use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM1053
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global identity & access management (IAM) market was valued at USD 17.25 billion in 2023 and is expected to grow at a CAGR of 12.4% during the forecast period. Identity and access management (IAM) ensures that individuals and job roles within an organization have the necessary access to tools and resources to perform their tasks. IAM systems allow companies to manage employee applications without needing to log in as an administrator for each app.
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Factors such as advancements in IoT and AI, increased focus on regulatory compliance, growing reliance on digital platforms and automation, and widespread adoption of cloud technologies across industries are expected to fuel the IAM market in the foreseeable future.
The increasing instances of fraud and cybercrime have led organizations to adopt IAM systems due to the rapid adoption of cloud and emerging technologies. IAM makes use of identity analytics and intelligence to track odd user account behavior, allowing dormant accounts to be deleted, policy infractions to be found, and improper access rights to be removed. As a result, the growing concerns around enterprise identity and security are driving the growth of the IAM industry.
Additionally, the cost-effective nature of application administration, centralization of connectivity and identity modifications, enhanced user reliability, and simplified access to sign-in, signup, and user management processes for application holders, along with the implementation of user verification and authorization policies, further contribute to the adoption of IAM.
Furthermore, integrating IAM with Mobile Device Management (MDM) can significantly enhance the efficiency of IAM and enable better security and control for organizations. MDM plays a crucial role in IAM as it allows businesses to manage apps and users on devices. Considering the widespread use of IAM across multiple devices, extending IAM to mobile devices has become a necessity for businesses. MDM complements IAM by providing security and provisioning apps to devices, creating a secure environment for users. IAM and MDM are interdependent, with MDM facilitating the effective use of IAM for identity and access management while ensuring security and control.
Global business operations have been significantly impacted by the COVID-19 pandemic, leading to the widespread adoption of remote work practices and cloud technologies to mitigate disruptions. This increased reliance on cloud and remote work has also heightened concerns around data protection and privacy for organizations. The economic challenges caused by the pandemic have resulted in a surge in cybercrimes and identity fraud, driving the adoption of IAM solutions to bolster security during the pandemic.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Identity & Access Management (IAM) Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
Additionally, the growing adoption of bring your own device (BYOD) approach has further amplified concerns related to identity and privacy, which is expected to drive market growth. Furthermore, with the emergence of Industry 4.0, IAM solutions have been introduced for machines, allowing enterprises to manage identities of RPA bots, IoT devices, containers, virtual machines, and other entities. As businesses recognize the benefits of these solutions, the IAM market is expected to witness significant growth in the long term, spurred by the impact of the COVID-19 pandemic.
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Industry Dynamics
Growth Drivers
In today's data-driven world, organizations are incorporating identity and access management (IAM) solutions to detect and prevent fraudulent activities and cyberattacks, ensuring data privacy and security. IAM systems also help organizations meet compliance requirements, allowing them to demonstrate that they have appropriate measures in place to mitigate the risk of data breaches or misuse during audits.
IAM solutions are designed to fulfill requirements related to with various regulations such as Sarbanes-Oxley (SOX), Gramm-Leach-Bliley Act (GBLA), Family Educational Rights and Privacy Act of 1974 (FERPA), and among others. These compliance requirements and concerns related to corporate governance are expected to drive the growth of the identity & access management (IAM) market.
Report Segmentation
The market is primarily segmented based on deployment, component, end-use, and region.
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By Deployment |
By Component |
By End-use |
By Region |
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On-Premise Deployment Sub-Segment Dominated the Market in 2022
The on-premise deployment sub-segment dominated the market in 2022, accounting for more than 50.45% of the total revenue. This can be attributed to the solution's functionality without the need for external network connections and access through Wide-Area Network (WAN). However, the cloud-based sub-segment is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period.
Cloud computing offers numerous benefits to businesses, including IT system control, cost reduction in terms of repairs, faster access to data for uninterrupted business operations, and secure data backup and storage. For Instance, as of March 2021, based on data from ForgeRock, approximately 80.0% of IT decision-makers have either already adopted, expanded or have plans to adopt cloud-based solutions. This increasing adoption of cloud-based solutions, particularly among small and medium-sized enterprises (SMEs), is driving the growth of this segment.
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The Provisioning Segment Emerged as the Dominant in the Market in 2022
The provisioning segment emerged as the dominant in the market in 2022. Identity management as a service (IDaaS) provides an additional layer of security by verifying and granting access to individuals for a company's information systems, thereby promoting the growth of this segment.
On the other hand, the multifactor authentication sub-segment is projected to exhibit the highest CAGR during the forecast period. This sub-segment adds an extra layer of security by requiring users to provide multiple credentials and a user ID to access applications. This multi-layer security approach has led to widespread adoption of multifactor authentication across various businesses in different industries, enhancing overall security, and driving the growth of this segment.
The Public Sector & Utilities Segment Emerged as the Dominant in the Market in 2022
The public sector & utilities end-use segment emerged as the dominant in the market in 2022. This was primarily driven by the increasing adoption of digitalization, higher investment in public sector applications, and the need to store and manage large volumes of public data. These factors have contributed to the growth of this segment.
North America Dominated the Global Market in 2022
North America dominated the global industry in 2022 and is likely to maintain its dominance over the anticipated period. The region's dominance can be attributed to the growing cases of cyber-attacks faced by companies, which are a result of increased internet penetration. This factor has been a key driver for the regional growth.
The increasing need for cybersecurity management and data protection is anticipated to further propel the growth of the North American region in the coming years. Meanwhile, the Asia Pacific region is projected to exhibit the highest growth rate during the forecast period. Factors such as rising internet penetration, the rapid development of digital infrastructure, increasing adoption of IAM systems by SMEs, and growing digitization of operations are driving the growth of the IAM market in the Asia Pacific region.
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Competitive Insight
Some of the major players operating in the global identity & access management (IAM) market include HP, Intel Corporation, Okta, Inc., Microsoft, Dell, IBM, Oracle, Inc, McAfee, LLC, Broadcom, Siemens, SecureAuth, and NetIQ Corporation
Recent Developments
- In December 2019, IBM Corporation improved risk detection in identity management by integrating artificial intelligence (AI) technology into its IBM Cloud Identity solution. The AI-based adaptive access feature allows for the monitoring of consumer risk levels during access to services and applications.
- In January 2019, Akamai Technologies acquired Janrain, Inc., a U.S.-based company specializing in customer identity access management (CIAM). This acquisition is expected to offer enhanced security benefits to CIAM customers. Through this strategic move, Akamai Technologies aims to provide a secure and robust platform for storing customer identities.
Identity & Access Management (IAM) Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 19.34 billion |
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Revenue forecast in 2032 |
USD 49.21 billion |
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CAGR |
12.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Deployment, By Component, By End-use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
HP, Intel Corporation, Okta, Inc., Microsoft, Dell, IBM, Oracle, Inc, McAfee, LLC, Broadcom, Siemens, SecureAuth, and NetIQ Corporation |
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FAQ's
The identity & access management (IAM) report covering key segments are deployment, component, end-use, and region.
Identity & Access Management (IAM) Market Size Worth $49.21 Billion By 2032.
The global identity & access management (IAM) market expected to grow at a CAGR of 12.4% during the forecast period.
North America is leading the global market.
Key driving factors in identity & access management (IAM) market are growing reliance on digital platforms and automation.
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