Identity and access management refers to a framework of policies and technologies for ensuring that enterprises should have the proper access to technology resources. This framework falls under the umbrella of IT security. It identifies, authenticates and authorizes each individual who is using IT resources. It also has proper details about the hardware and applications that employees need to access.
The report on “Identity and Access management market” by KD market insights says that the current value of the market has been held at 9.3 Billion in 2017 and expected to reach USD XXX billion at a compound annual growth rate of 9.4% during the forecasted period from 2018-2023.
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Industry Insights –
The study aims to provide an overview of the identity and access management market beginning from an executive summary, current and future market size, opportunities and applications available in the market for both entry level and existing players of the market. It also put forward the key factors, insights, new launches and market strategies that will give a clear picture for revenue growth. It aims to target its customers that overall affect the demand of the market. The market is divided into segments and further in sub-segments to analyze the market properly so that every aspect of the market is considered while evaluation of the market. Further, the market is dynamic in nature and continuously changes to cater the needs of the customers.
There are many reasons why this market is at growing at such a pace. The market is driven due to the factors like increase in security concerns in the various industries along with increasing demand of mobility solutions. Moreover, there is extreme rise in awareness about compliance management across various industries. For example, as per the 1996 act for healthcare, all the healthcare organizations need to ensure the health care coverage and privacy of patient records.
Segmentation Analysis –
The report highlights the segmentation which is considered as base for understanding overall market prospective. The market is divided by solution, by deployment model and by application. The report includes figures, data, market attractiveness and BPS analysis for every segment and sub-segment in the report.
By solution, market can be divided as Provisioning, Password Management, Directory Services, Advanced Authentication, Single Sign-On, Audit, Compliance and Governance. Among the sub-segments audit, compliance and governance is expected to provide tremendous opportunities in public sector, retail and utilities. Thus, it is expected to reach by a highest CAGR during the forecasted period.
By deployment model, market has been sub-segmented as on-premise and cloud while by application; market has been sub-segmented into BFSI, IT & Telecom, Healthcare, Education, Public Sector and Utilities, Manufacturing, Retail.
BFSI to mark highest CAGR among the application segment – Identity and access management solutions has provided an opportunity to business people to make quick decisions. Other industries like healthcare, retail, telecom etc have achieved more transparency in the business due to the deployment of identity and access management.
Asia Pacific is likely to boom the Market –
The research provides deep insights about the geographical distribution of the market. The market is segmented into various areas to analyze the overall revenue earned from a particular area. The regions covered are North America, Middle East & Africa, Asia pacific region, Europe and Latin America.
As per the reports, Asian countries like India and China is likely to dominate this market. This is because of growing enterprises in this region along with more and more adoption of cloud solutions for getting smart business solutions.
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Competition Analysis –
The key industry giants for identity and access management market are IBM Corporation, Symantec, SailPoint Technologies Holdings, Inc., Gemalto, Crossmatch, Okta, Inc., Oracle, CA Technologies, OpenText Corp., Ping Identity, ForgeRock, OneLogin, Net IQ, HID Global Corporation, Dell, and other Major Key Players.
The report covers a separate competition analysis to understand the competition deeply. It also help in identifying the recent products launches, new product development, mergers, acquisition and strategies that will help in growth for both new and old organizations.
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