Identity And Access Management Market Size, Share and Industry Analysis By Component (Provisioning, Directory Services, Single Sign-On, Others), By Deployment Model (Cloud, On-Premises), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, IT and Telecom, Retail and Consumer Packed Goods, Others) And Regional Forecast 2019-2026

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The identity and access management market is gaining traction owing to the rising need for compliance management and the growing demand for mobility solutions. Also, growing digitization is one of the major factors responsible for the growth of the market. Furthermore, the deployment of advanced technologies like cloud into identity and access management solutions is expected to further fuel the growth of the market in the coming years. For instance, in August 2019, IBM Corporation collaborated with Imprivata, an IT security company, to launch a cloud-based identity and access management tool to help customers of both the companies to manage the provisioning, tracking, and de-provisioning of their users in their hybrid on-premises and cloud environment.

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MARKET TRENDS

• Adoption of Blockchain Technology in Identity Management to Tackle Authentication and Authorization Issues

Blockchain technology has gradually penetrated into IAM area to create a platform that would secure individual identities from being stolen or becoming victims of various fraudulent activities. Businesses have incorporated blockchain technology into IAM to deal with issues of authentication and authorization. Blockchain technology provides a decentralized and reasonably secure way to store and verify the proof of identifiers for identities. Blockchain technology in IAM systems help users to create, prove, and register their own identity and related identifiers to make use of digital services. Blockchain-enabled IAM systems in organizations would assist in reducing the operational risks and costs by eliminating the need for siloed or replicated identity repositories and data. However, the broad adoption of blockchain technology in IAM requires the open-source availability, simple financial models, adherence to privacy by design, and acceptable user experience.

• Artificial Intelligence (AI) and Machine Learning in Identity and Access Management to Sharpen Risk Detection

Identity and access management is continuously evolving across various critical functions like authentication, and data security to meet privacy compliance requirements. AI and machine learning in IAM are expected to be a  growing trend. Artificial intelligence in identity management is expected to revolutionize security beyond people, places, and things as the increasing number of devices and systems will communicate with and learn from one another without human intervention. It provides contextual insights to both technical and non-technical employees, enabling them to work more efficiently. IAM vendors have started adding behavioral data analysis through machine learning to improve security tactics. For instance, machine learning can analyze user login attempts and detect suspicious behavior such as password guessing. Similarly,, Ping Identity, an American software company, uses AI-driven analysis to monitor an organization's application programming interface (API) activity. Thus, artificial intelligence and machine learning are making a big impact on the security industry. Identity access management solution vendors have identified these technologies as big opportunities in the coming years.

MARKET DRIVERS

“Growing Security Concern Among Organizations to Boost the Growth”

The growing number of internal as well as the external threats has pushed organizations to implement a robust identity and access management security baseline. It has become an integral part of all the business. IAM solutions enable enterprises to boost employee productivity and bolster their overall security. It helps organizations to identify policy violations and remove inappropriate access privileges without impacting the multiple distributed systems. Moreover, it assists IT professionals with a consistent method for managing user access by consolidating authentication and authorization functionality on a single platform. Using a single IAM platform to manage all user access allows administrators to perform their work more efficiently. Moreover, IAM business intelligence and identitying analytics improve risk management and strategic decision-making ability.

“Increasing Awareness of Regulatory Compliance to Drive the Market Growth”

Identity and access management solutions are implemented by companies to regulate and mitigate cybercrime, ensuring that the right people get access to the right things. Identity and access management solutions can be used to meet numerous compliance requirements. For instance, if an organization is audited and has a reliable IAM program, it can easily prove that it has measures to mitigate the risk of data being stolen or misused. It also helps to meet  specific criteria associated with various regulations, including Sarbanes-Oxley (SOX), Gramm-Leach-Bliley Act (GBLA), Health Insurance Portability and Accountability Act (HIPAA), Family Educational Rights and Privacy Act of 1974 (FERPA), North-American Electric Reliability Corporation (NERC), Payment Card Industry Data Security Standard (PCI), and General Data Protection Regulation (GDPR). Furthermore, compliance and corporate governance concerns is expected to continue to be major drivers for IAM spending. The IAM solution eases the burden of compliance and creates a highly secure environment for the organization.

MARKET RESTRAINT

“Risk Associated with Identity and Access Management May Hamper the Market Growth”

Implementation of identity and access management tools or platforms requires all the authorizations and credentials to be stored in one centralized place. If not stored securely, it can be a huge risk as an attacker can gain access to the system, thereby hacking all the digital identities. Additionally, converting resources of an existing legacy system into IAM  is challenging, expensive as well as time-consuming. Moreover, even though the cloud-based system has numerous benefits, it has some issues associated with the security of the stored data. The identified security issues are credential protection, data breaches, hacked interfaces and APIs, account hijacking, malicious insiders, DoS attacks and shared technology issues

SEGMENTATION

By Component Analysis

“Provisioning Segment to Account for Maximum Share”

Based on the component, the global IAM market is segmented into provisioning, directory services, single sign-on, password management, advanced authentication, and audit, compliance, and governance. Among these, the provisioning segment held the largest market share in 2018 owing to its vast functionalities, which involve the entire lifecycle, including changing roles and retiring user accounts across all systems.  For instance, OneLogin, the identity management provider, offers multi-account, multi-role single sign-on solution for Amazon Web Services (AWS) access management. This solution provides real-time active directory integration and automates user provisioning, thereby enhancing AWS administrator productivity.

By Deployment Analysis

“Cloud Segment to Hold the Largest CAGR During Forecast Period”

On the basis of deployment, the global identity and access management market is bifurcated into cloud and on-premises. The cloud is expected to be the fastest-growing segment during the forecast period. The cloud-based IAM solutions provide a single access control interface, enhanced security, and resource-level access control. Additionally, It assists in maintaining the compliance of processes and procedures.

By Organization Size Analysis

“Large Enterprises Augments Largest Market Share”

By organization size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. Among these, large enterprises held more than half of the market share in 2018 and is expected to continue to hold significant share during the forecast period. In large enterprises, around 70% of breaches begin with stolen or weak privileged credentials. To combat this issue, large enterprises have started adopting robust IAM solutions to add a layer of protection to their credentials as well as assets and enhance business productivity.

By Vertical Analysis

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“Healthcare and Life Sciences Expected to Drive the Market”

Taking into consideration the industry vertical, the global identity and access management market has been segmented into BFSI, healthcare & life sciences, manufacturing, retail and consumer packed goods, IT & telecom, government, education, and energy & utilities. Among these, the healthcare and life-science segment is expected to show the highest CAGR during the forecast period. Healthcare organizations experience 5 times more attacks by their own employees and business than financial institutions. Thus, the incorporation of IAM in healthcare would prevent unauthorized people from accessing protected health information (PHI) and the authorized person from leaking PHI by accident.

REGIONAL ANALYSIS

“Enormous Data Generation and Shift in Focus of Organizations towards Identity and Access Management in North America Ensures the Highest Market Share”

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North America held the largest market share in 2018 and is expected to continue during the forecast period. Increasing digitalization has encouraged companies in North America to adopt identity management solutions. Additionally, the need for securitization in SMEs as well aslarge enterprises is one of the factors responsible for the growth of the market in this region. Furthermore, leading players in Asia Pacific are indulging in a safety configuration system to form a unique combination of a simple, yet powerful functionality for managing and making appropriate access control decisions to prevent cyber thefts. These authenticated access control initiatives are likely to boost adoption and enhance the growth rate in this region.

INDUSTRY KEY PLAYERS

“IBM to Extend Artificial Intelligence (AI) Technology to its Cloud Identity and Access Management Solution”

IBM is planning to extend its artificial intelligence (AI) technology, developed for the financial services industry to customers in all sectors through its cloud identity solution. IBM used its existing online fraud-detection capabilities as the basis for the new capability. This technology, called IBM Trusteer, uses AI and machine learning (ML) to identify authorized and unauthorized access and activities across devices. It assesses users based on a fraud evidence database, fraudulent pattern analysis, and cross-organizational patterning.

Key companies covered in the report

• Amazon Web Services Inc.


• Akamai Technologies


• HP Development Company L.P.


• Microsoft


• Oracle


• IBM Corporation


• Siemens AG


• ForgeRock


• Gemalto


• Avatier


• Symantec


• Beta Systems


• CA Technologies


• Centrify


• Cyberark


• Core Security


• Crossmatch


• Fischer Identity


• ForgeRock

FUTURE OUTLOOK

Identity systems have not changed a lot over the past few decades, but the way businesses operate and how they leverage technology certainly has changed a lot. Identity and access management is at the core of the digital transformation and will be at the epicenter of the secure IT infrastructure that every company, government agency, and institute of higher education strives to achieve. Most of the organizations are planning for a substantive IAM evolution over the next five years. Many organizations have started implementing identity federation to support access across multiple identity domains.

REPORT COVERAGE

The report provides qualitative and quantitative insights on identity and access management and the detailed analysis of market size & growth rate for all possible segments in the market. The market has been studied for five major geographic, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Along with this, the report provides an elaborative analysis of market dynamics and competitive landscape. Key insights provided in the report are the adoption trends of identity and access management market, recent industry developments such as partnerships, mergers & acquisitions, industry SWOT analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.

Report Scope &Segmentation

KEY INDUSTRY DEVELOPMENTS:

• In November, 2019 – ForgeRock, an identity and access management software company launched ForgeRock Identity Cloud which includes Identity Platform-as-a-Service (IDPaaS) and ForgeRock Identity Cloud Express. This solution offers safe and secure access to the connected world and enables applications with advanced identity capabilities.


• In April 2019, SAP SE introduced SAP Customer Identity and Access Management (SAP CIAM) solutions for business-to-business (B2B) use, to assist organizations to build trusted relationships with their business customers and partners.


• January 24, 2019, Akamai Technologies completed the acquisition of Janrain, in the customer identity access management (CIAM) category with an aim to enhance its capability to cater to CIAM customers.