Identity and access management facilitates the management of the organization of electronics identities. IAM can be used for a variety of purposes like initiating, capturing, and managing user identities. Expansion in the automation industry and their high dependence on technology is forcing IT sectors to make more investments and to develop more new products. The global access management market is growing rapidly at a high pace. Adoption by large enterprises at a high rate is assisting this market to grow at a faster rate. The development of more new products and the growing market of automation in today’s technological environment are major factors affecting growth. Globally the market is expected to grow at USD 24 billion by 2022 with a 16% of annual growth rate.
COVID 19 ANALYSIS
The pandemic of COVID 19 has affected various sectors of society including individuals and businesses. The internet ecosystem has been playing a major role throughout the globe. This situation has made individuals depend more on the identity and access management market. During this impact, the IAM software will have a positive impact on the market and is hugely responsible for its market size. The vendors of IAM are coming forward to assist.
North America plays a dominant role in the market of identity management. Development of technology at a great rate, the presence of global key players, and developing nations such as the U.S and Cannada, give North America a competitive spirit. Due to the growing manufacturing industry and the rich presence of BFSI, Europe is regarded as the second-largest market. Due to growth in the economy of China and India, you can see that Asia-Pacific is also showing a positive trend in the market. China, Taiwan, South Korea are the supporting regions of IAM which shows the expansion of the market.
Enterprises prefer more towards using multiple channels for accessing. They must cater to the needs of the business and play role in the integration of various users.
IAM consists of many global and regional players, a moderate contestant in the market space. By innovation, market players are succeeding in gaining sustainable competitive advantage.Major competitors in the market who contribute to identity and access management growth factors are F5 Networks (U.S.), Amazon Web Services (U.S.), HP (U.S
IBM (U.S.), Microsoft Inc. (U S.), Oracle Corporation (U.S.), Siemens AG(Germany), Dell Inc (U.S.), CA technologies, and many others. CyberArk put forwards its abilities to manage and protect the identities at various privileges. It uses its experience mode and enables the customers to improve their security posture. It also addresses ever-increasing and complex regulatory requirements.
The report provides information about the new entrants into the market. It provides the entrepreneurs to understand the competitive landscape and gain more insights to make their position better and plan suitable go-to-market strategies. Identity and access management market analysis provides information about market drivers, restraints, challenges, and growth. It provides a detailed analysis of market structure along with the various segments of identity management. It provides analysis about the market concerning its size current market size and comprehensively analyses the stakeholder’s competencies. To track and analyze the competitive developments such as strategic alliances, a new development of the research in IAM globally.
Salesforce extended its partnership with Vlocity which assists in the world’s top communication, media, and entertainment.
Frequently Asked Questions (FAQ) :
A USD 24 million earning level is anticipated to be achieved by the market with the help of a 16% CAGR.
F5 Networks (U.S.), Amazon Web Services (U.S.), HP (U.S.), IBM (U.S.), Microsoft Inc. (U.S.), Oracle Corporation (U.S.), Siemens AG (Germany), Dell Inc. (U.S.), CA Technologies (U.S.), ForgeRock Inc. (U.S.) among others are the strong contenders in the identity and access management market.
The Asia Pacific region is expected to follow the lead of the North American region in duration of the forecast period.
The increased efforts being undertaken to incorporate automation in key industries is expected to form the crux of the growth story in the market.