Global Identity & Access Management Systems Market Projected to Witness a Measurable Downturn; COVID-19 Outbreak Remains a Threat to Growth in the Near Future

 Identity & Access Management Systems Market - Key Research Findings

1. The global Identity & Access Management Systems market size in 2018 – Approximately US$ 8.8 Bn
   
2. The Identity & Access Management Systems market is projected to expand at a CAGR of 11.4% during the forecast period (2018-2028).
   
3. According to FMI analysis, the enterprise software applications market is continually growing and evolving.
   

• The rising adoption of cloud-based solutions by SMEs is expected to collectively result in the higher adoption of enterprise applications, which will eventually boost the demand for Identity & Access Management Systems solutions and services at a global level.
  

1. North America and Europe cited as the prominent regional markets for Identity & Access Management Systems
   

• Strong investments, rigorous R&D activities across these regions, and increase in the penetration of advanced AI-based solutions has boosted the Identity & Access Management Systems market in developed regions, i.e. North America and Europe.
  

1. South Asia holds significant growth potential for Identity & Access Management Systems market.
   

• The region is witnessing technological advancements in the field of IT, manufacturing, industrial sectors, and others. Moreover, governments of fast-progressing countries such as India, are encouraging foreign investors to invest in multiple sectors.
  

1. The public administration sub-segment is currently the most attractive vertical for the Identity & Access Management Systems market players.
   

• The increasing demand for smart access systems and ever-rising importance of reliable security systems, particularly in government organizations, will drive the Identity & Access Management Systems market.
  

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Top 2 Factors Shaping Identity & Access Management Systems Market

• Adoption of IAM Services & Solutions Accelerating across Verticals
  

The expansion of various industry verticals is expected to contribute to the growth of the Identity & Access Management Systems market across the globe. Information and data security is becoming the top priority for enterprises to secure enterprise information and other digital assets. In the recent past, various industry verticals have witnessed growth. These include the banking & financial sector, manufacturing, ITES, healthcare, telecom, and utility.

To protect themselves from cyberattacks and other frauds, these industry verticals are expected to adopt Identity & Access Management Systems solutions to ensure that only authorised individuals have access to their resources at the right time and for the right reasons.

Moreover, Identity & Access Management Systems verifies user access requests and either grants or denies permission to protected company materials. It also deals with various administrative functions, such as password problems, and helps in the management of the identities of employees based oversees. The standards and applications of Identity & Access Management Systems include the maintenance of user life cycles and various application accesses and singular logons.

• Escalating Significance of Reliable IT Security & Counter-Cybercrime Measures
  

Owing to the various initiatives undertaken by companies in various countries, and rising awareness about cybercrime and data security, are pushing the demand for Identity & Access Management Systems, significantly. Companies are taking steps to secure their data and enterprise information from various internal and external digital attacks on the cloud as well as on-premise. Increasing awareness about cybercrimes and data security is expected to drive the Identity & Access Management Systems market during the forecast period.

Furthermore, the digitisation of workloads is growing steadily in various countries, such as India, China, the U.S., France, Germany, and Japan, and enterprises are adopting mobile first and cloud first. While this exposes new endpoints to cyberattacks and digital frauds, it also provides significant opportunities for the adoption of Identity & Access Management Systems solutions.

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Identity & Access Management Systems Market Structure Analysis

• The global Identity & Access Management Systems market represents a moderately consolidated competition landscape, wherein Tier 1 companies hold a revenue share of approximately 38%.
  
• While most of the key players maintain a strategic focus on the North America, Europe, and East Asia markets, the report underscores that technology assessment will be an important developmental strategy for companies.
  
• Leading players in the Identity & Access Management Systems market are also concentrating on entering strategic partnerships and collaborations with other security system providers, which is underscored as a strong differentiation strategy.