Identity and Access Management Market

Identity and Access Management Market Overview

The identity and access management market size is projected to grow from $19.5 billion in 2024 to $75 billion by 2035, representing a CAGR of 13% during the forecast period 2024-2035.

To learn more about this report, request a free sample copy

The new research study consists of industry trends, detailed market analysis, key market trends of the identity and access management market, SWOT analysis, and value chain analysis.

In the past few years, a high occurrence of hacking, particularly, passwords and networks has amplified the importance of identity and access management solutions. IAM or identity and access management is a structure of technologies, processes, and policies to manage digital identities and control access to an organization’s resources. This technology ensures the right individual access to technology resources and information within an organization. Also, its capability to safeguard companies’ data and user access to information offers convenience, transparency, and complete security in the IT management domain. Modern enterprise security strategies are increasingly integrating physical and digital systems, including advanced access control solutions that ensure multi-layered protection.

Subsequent to this, the demand for identity and access management solutions has risen globally impelled by the rising incidence of cyber security attacks and stringent regulatory compliance needs. Also, regardless of the size, enterprises are increasingly adopting identity management software and solutions, boosting the market demand. Additionally, an upsurge in remote work and bring your own device policies are elevating the popularity of access management solutions to manage and secure access for remote employees and their devices. Apart from this, the growing integration of artificial intelligence, machine learning, IoT technology, and expansion of identity governance and administration are augmenting the product demand. As a result, capitalizing on this mounting demand, stakeholders are integrating advanced technology like AI and blockchain into their platform and software to enhance abilities such as adaptive authentication, identity analytics, and anomaly detection. Overall, the factors are collectively ascribed to uplift the identity and access management market scope during this forecast period.

Identity and Access Management Market Share Insights

The report presents an in-depth analysis of the various service providers that are involved in offering identity and access management market, across different segments, as defined in the table below:

Identity and Access Management Market: Report Attributes / Market Segmentations

Identity and Access Management Market Key Segments

Market Share by Type of Offering

This global identity and access management market segment features solutions and service offerings. Based on the offering, the solution segment is expected to hold over 65% of the market and will retain its dominance till 2035. The wide range of software solutions and their capabilities to manage and secure digital identities and control access empower enterprises to address multiple security and compliance requirements, thereby, boosting the market growth. On the other hand, the service offering is projected to come out with a relative faster CAGR of around 15% in the upcoming decade owing to the heightening need for expertise in the implementation and integration of access management tools & software with existing IT infrastructure and security systems.

Market Share by Type of Component

The segmentation underscores a variety of components available in the global identity and access management market such as advanced authentication, audit, compliance & governance, directory services, password management, provisioning, and single sign-on. The audit, compliance & governance segment is anticipated to gain the major identity and access management market share during the projection period. This component is considered the backbone of the identity and access management solution as it aids in controlling digital identities and access rights within the organizations, leading the segment growth. While, provisioning segment is poised to sprout out at a notable CAGR over this projection timeframe owing to automation of the granting and revoking access rights based on user role, job, and changes or termination. Additionally, the single sign-on segment is likely to witness a substantial growth rate due to enhance security feature which allows user to access multiple application and services with a single set of login credentials.

Market Share by Type of Deployment

The global identity and access management market two types of deployment cloud-based and on-premises. In terms of market revenue, cloud-based deployment is predicted to captures the majority of the market share and will continue lead the segment till 2035. The growing demand for cloud-based solutions is due to their scalability and cost-effectiveness. Therefore, small and medium size enterprises are inflating the demand for cloud-based solutions due to this the segment will likely grow at a faster CAGR throughout the forecast period. However, the on-premises segment is projected to expand at a steady growth rate.

Market Share by Type of Vertical

This segment explains the distribution of the identity and access management market based on the wide range of verticals such as BFSI, education, energy utilities, government, healthcare and Life-sciences, manufacturing, retail and e-commerce, telecom & it, tourism and hospitality, and others. Among the given categories, BFSI vertical is estimated to escalate the market growth throughout this projection timeframe with its major market share. Stringent regulatory requirements and high risk of cyber threats can be the primary factors behind the segment's growth. Nevertheless, healthcare and life-science segment is likely to experience a higher growth rate in the coming years driven by growing need to protect patient data, increasing use of digital medical equipment and growing use of telemedicine platforms.

Market Share by Geographical Regions

This segment highlights the distribution of the identity and access management market across various geographical regions such as North America, Europe, Asia, Latin America, the Middle East, North Africa, and the Rest of the World. As per previous years' statistics, North America is anticipated to hold its dominating position in the global market for identity and access management solution. Moreover, Asia is poised to grow at the fastest CAGR over this projection period. Industry players’ increasing collaboration with regional companies and their investment in advanced identity management tools to prevent cyberattacks and identity frauds accelerating the market development in Asia.

Identity And Access Management Market Key Insights

The “Identity and Access Management Market, Till-2035: Industry Trends and Global Forecasts” report features an extensive study of the current market landscape, market size and future opportunity within their identity and access management market, during the given forecast period. The market report highlights the efforts of several stakeholders involved in this rapidly emerging segment of the service providers industry. Key takeaways of the identity and access management market analysis report are briefly discussed below.

Market Trends in Identity and Access Management Market

Lately, with the continuous innovation in technologies and spur in demand to prevent data breaches and identity frauds, the industry is experiencing various emerging trends such as the rising implementation of identity-centric security models such as zero trust security, which is becoming one of the latest identity and access management market trends. The significance of this model is its core belief that no device or user can be inherently trusted regardless of its location within or outside the network. Thus, this unique feature is boosting the popularity of the zero trust security models and propelling the demand for identity management solutions. Also, the rising integration of artificial intelligence in identity management systems advances security by detecting suspicious activities more accurately which will likely elevate identity and access management market opportunities for the industry players in the upcoming decade.

Competitive Landscape of Identity and Access Management Market

With the establishment of market players and an increasing number of niche solution providers, the identity and access management market competitive landscape is changing vigorously. These vendors offer a diverse range of solutions to cater to different needs such as identity governance authentication, multifactor authentication and more. However, prominent companies such as IBM, Microsoft, Okta and others lead the market with their highest profit revenue. Their comprehensive identity management software and solutions help them gain a competitive edge in the international marketplace. Meanwhile, emerging startups are offering innovative access management platforms and tools by leveraging advanced technologies like AI and machine learning. In order to stay ahead of the market competition, these key players employ collaborative strategies, acquisitions, and mergers to magnify their market presence.

Key Drivers of the Identity and Access Management Market

The identity and access management market growth is mainly driven by the rise in cybersecurity attacks which has pushed enterprises to implement strong identity and access management solutions and services. These tools and services aid companies in safeguarding against unauthorized access, data leaks, and identity theft by controlling user access rights. In addition, driven by these data breaches incidence, there are strict regulatory standards like General Data Protection Regulation and Health Insurance Portability and Accountability Act that force organizations to comply with these requirements. Besides this, the mounting adoption of cloud-based solutions, focus on zero trust security models and advancements in AI are some of the considerable factors expected to expand the identity and access management market outlook in the near future.

Regional Analysis: North America is Anticipate Leading the Market with the Largest Identity and Access Management Market Share

With regard to regional analysis, identity and access management market size in North America exhibits it dominance in the global marketplace holding over 45% of the market share. This is driven by a confluence of several key factors. One of the significant reasons is the high adoption of advanced technologies similar to cloud computing, the Internet of Things, big data, and artificial intelligence. These technologies need strong access management solution to handle digital identities and secure access to resources. Along with this, the prevalence of cyberattacks, stringent regulatory requirements as well as presence of giant Identity and access management solution providers in the region notably aid in the development of the IAM market in North America.

Leading Companies in Identity and Access Management Market

Examples of key service providers involved in the identity and access management market (which have also been captured in this market report, arranged in alphabetical order) include Akamai Technologies (US), Amazon Web Services (US), Avatier (US), Beyond Identity (US), CyberArk (Israel), EmpowerID (US), ForgeRock (US), HID Global (US), HP Development (US), IBM (US), Idnow (Germany), Micro Focus (UK), Microsoft (US), Okta (US), One Identity (US), Oracle (US), Ping Identity (US), RSA Security (US), Salesforce (US), SecureAuth (US), Simeio (US), FusionAuth (US), Symantec (US), Thales Group (France), and Zephr (UK). This market report includes an easily searchable Excel database of all the companies who have adopted the identity and access management market.

Identity And Access Management Market Report Coverage

The market report presents an in-depth analysis, highlighting the capabilities of various companies engaged in this domain, across different segments. Amongst other elements, the market report includes:

• A preface providing an introduction to the full report, identity and access management market, 2019-2023 (Historical Trends) and 2024-2035 (Forecasted Estimates).
• An outline of the systematic research methodology adopted to conduct the study on the identity and access management market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure the accuracy and reliability of our findings.
• An overview of economic factors that impact the overall identity and access management market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
• An executive summary of the insights captured during our research. It offers a high-level view on the current state of the market for identity and access management and their likely evolution in the mid-long term.
• A detailed assessment of the identity and access management market landscape, based on several relevant parameters, including year of experience, company size, location of headquarters, and ownership structure.
• Elaborate profiles of prominent players engaged in the identity and access management market, featuring information on their year of establishment, location of headquarters, company size, company mission, company footprint, management team, contact details, financial information, operating business segments, identity and access management portfolio, moat analysis, recent developments, and an informed future outlook.
• A value chain analysis featuring a discussion on various stakeholders involved in the development of the identity and access management market, from suppliers to end-users.
• A discussion on affiliated trends, key drivers and challenges, under a SWOT framework, which is likely to impact the industry’s evolution, along with a Harvey ball analysis, highlighting the relative effect of each SWOT parameter on the overall identity and access management market.
• A detailed estimate of the current market size and the future growth potential of the identity and access management market over the next decade. Based on multiple parameters we have provided an informed estimate on the market evolution during the forecast period 2024-2035. The report also features the likely distribution of the current and forecasted opportunity within the identity and access management market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s growth.
• Detailed projections of the current and future market across various types of offering such as solution and services.
• Detailed projections of the current and future market across various types of components such as advanced authentication, audit, compliance & governance, directory services, password management, provisioning, and single sign-on.
• Detailed projections of the current and future market across various types of deployment such as cloud-based and on-premises.
• Detailed projections of the current and future market across various types of verticals such as BFSI, education, energy utilities, government, healthcare and life sciences, manufacturing, retail and e-commerce, telecom & it, tourism and hospitality and others.
• Detailed projections of the current and future market for identity and access management across various geographical regions, such as North America (US, Canada, Mexico, and other North American countries), Europe (Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, UK and other European countries), Asia (China, India, Japan, Singapore, South Korea and other Asian countries), Middle East and North Africa (Egypt, Iran, Iraq, Israel, Kuwait, Saudi Arabia, UAE and other MENA countries), Latin America (Brazil, Chile, Colombia, Venezuela and other Latin American countries) and rest of the world (Australia, New Zealand and other countries).

Recent Developments In Identity And Access Management Market

• In July 2024, Avatier, a leading IAM solution provider, declared its integration of the IBM z/OS Security Server RACF with the Avatier’s IAM platform. This strategic move will advance enterprise security and user management and improve security protocols.
• In July 2024, HID acquired Vizzia Technologies to expand real-time location systems platforms designed for healthcare and hospital application. Through this acquisition, HID boosted its RTLS portfolio to allow hospitals to optimize their layered security approach and enhance patient, visitors and staff experience.
• In April 2024, Savex, India’s third biggest ICT company, partnered with Okta to escalate digital identity in India. Through this collaboration, Savex will sell and support Okta’s IAM Workforce & Customer Identity Cloud solution through its ecosystem of channel partners.
• In May 2024, RSA collaborated with Microsoft offer additional security to offices environment through External Authentication Methods capabilities. The EAM will enable Microsoft customers to seamlessly protect access to its resources by using RSA ID Plus.

Author(s): Ronit Sharma and Neha Kashyap

Customization Opportunities

At Roots Analysis, we genuinely care about your success and understand that your business requirements are unique. While our market research reports provide valuable insights, we recognize that they might not cover every aspect you need to make well-informed strategic decisions. To account for that, we offer 15% free report customization tailored to your specific needs. Whether you require additional quantitative analysis, qualitative insights, or any other information related to the identity and access management market, reach out us today at: support@rootsanalysis.com