Identity And Access Management Market Share to Witness Significant Revenue Growth

Identity And Access Management Industry Overview

The global identity and access management (IAM) market was valued at USD 15.93 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. IAM ensures that individuals and job roles within an organization are granted appropriate access to the tools and resources needed to perform their responsibilities. These systems allow organizations to efficiently manage access across multiple employee applications without requiring administrative logins for each one. Several factors are contributing to the growth of the IAM market, including the rise of the Internet of Things (IoT) and artificial intelligence (AI), increased awareness around regulatory compliance, the growing reliance on digital platforms and automation, and the widespread adoption of cloud technologies across various industries.

A significant driver of IAM adoption is the increasing number of fraudulent activities and cybercrime incidents. As cloud adoption accelerates and new technologies advance, organizations are more vulnerable to cyber threats, making IAM solutions essential for safeguarding digital assets. IAM systems leverage identity analytics and intelligence to detect unusual user account activity, ensuring tighter control over access. They can also deactivate inactive accounts, flag policy violations, and remove inappropriate access privileges, addressing rising concerns about enterprise identity security. Furthermore, IAM streamlines application administration by centralizing the management of user access and identity changes, enhancing user reliability, simplifying the sign-in and user management processes, and ensuring that verification and access control policies are consistently enforced.

Additionally, the integration of IAM with mobile device management (MDM) is emerging as a crucial development for businesses. MDM plays an integral role in enhancing IAM functionality by providing control over apps and users on mobile devices. Since IAM solutions can be utilized across various devices, extending these capabilities to mobile devices has become essential for organizations aiming to secure their mobile workforce. MDM, as a critical component of IAM, enables businesses to enforce security policies, provision applications, and monitor device usage. The collaboration between IAM and MDM ensures comprehensive protection for both users and devices, with MDM serving as the enabler of secure and controlled access across an organization’s mobile ecosystem. As such, IAM and MDM are interdependent, providing businesses with robust security and seamless access management.

Gather more insights about the market drivers, restrains and growth of the Identity And Access Management Market

Regional Insights:

Geographical Segmentation of the IAM Industry: The global identity and access management (IAM) market is categorized into five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

North America:

Dominance in 2022: North America led the global IAM market in 2022, accounting for the largest share of more than 36.45% of the overall revenue.
Key Drivers:

The significant increase in cyber-attacks and data breaches faced by organizations in the region is a primary factor driving market growth.
Higher internet penetration rates across various sectors have increased the exposure to cyber threats, leading companies to adopt IAM solutions for enhanced security.
Rising Demand for Cybersecurity and Data Protection: There is a growing demand for robust cybersecurity management systems and data safety protocols, which is expected to further accelerate the market’s growth in North America in the coming years.

Asia Pacific:

Fastest Growth Region: The Asia Pacific region is anticipated to experience the fastest growth in the IAM market during the forecast period.
Key Drivers:

Increased Internet Penetration: The rising internet usage across the region is contributing to a higher demand for secure digital access management.
Development of Digital Infrastructure: Rapid advancements in digital infrastructure are fostering the adoption of IAM solutions by businesses looking to protect their online assets and improve access control.
SME Adoption: A significant number of small and medium-sized enterprises (SMEs) in Asia Pacific are implementing IAM systems to manage and secure their growing digital operations.
Operational Digitalization: As organizations across various industries embrace digitalization, the need for advanced IAM solutions to manage the complexity of digital operations is increasing.

Browse through Grand View Research's Network Security Industry Research Reports.

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Key Identity And Access Management Company Insights

The global industry is highly competitive. Key players undertake various strategies, such as M&A, business expansions, and product portfolio expansions, to gain a higher market share. For instance, in May 2022, Microsoft announced the launch of a family of IAM named Entra. Entra includes its existing tools, such as Azure AD, with its new product, Decentralized Identity and Cloud Infrastructure Entitlement Management (CIEM). Entra is intended to safeguard access to any resource or application by allowing security professionals to detect and manage permissions in multi-cloud environments, allowing them to secure digital identities from end to end. Some of the prominent players in the global identity and access management market include: