The identity and access management market is expected to grow from USD 7.20 Billion in 2015 to USD 12.78 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period. Growing emphasis on compliance management, increasing trend of mobility, and growing demand from BFSI, telecommunications, public and critical infrastructure sectors are the main drivers driving the growth of the identity and access management market.
The latest report incorporating these findings comes from Marketsandmarkets, and is entitled “Identity and Access Management Market by Component (Provisioning, Directory Services, Password Management, SSO, & Audit, Compliance, and Governance), by Organization Size, by Deployment, by Vertical, and by Region – Global Forecast to 2020.”
Researchers found that the audit, compliance, and governance component is estimated to grow with the highest CAGR during the forecast period. However, provisioning services have captured the highest market share as the provisioning lies at the core of access rights compliance and enforcement initiatives. Cloud deployment is expected to grow with the highest rate from 2015 to 2020. However, on-premises deployment is expected to contribute largest market share during the forecast period.
North America is contributing maximum toward the identity and access management market through component, deployment type, and organisational size. The changing needs of the workforce, adoption of cloud applications, BYOD, and mobile practices along with meeting the heavy compliance regulations are driving the organisations in North America to adopt IAM solutions. Europe and Asia-Pacific are the second and third-largest regions in terms of market size for identity and access management.
The market is competitive due to the entry of new players with new and innovative offerings. Major players active in this market space and identified by the analysts in the report include vendors such as IBM, Microsoft, Hitachi, Dell Software, EMC Corporation, Okta, and Centrify. The report shows growth of the identity and access management market in various regions. The report aims at estimating the market size and future growth potential of this market across segments such as components, deployment type, organisational size, and regions.
