Identity And Access Management Market Size, Share, Growth, Analysis Forecast to 2029 from Ankita Raut's blog

Businesses have come to the conclusion that demanding a username and password for confirming the identities of users accessing resources is insufficient as the number of apps, systems, and data has expanded.

In 2020, the identity and access management market  was worth USD 12.26 billion. The market is anticipated to increase at a CAGR of 14.5% between 2021 and 2028, rising from USD 13.41 billion in 2021 to USD 34.52 billion in 2028. The COVID-19 epidemic has had an unprecedented and overwhelming impact on the world, and identity and access management has seen steady expansion in every region as a result. According to our data, the global market showed a notable increase of 9.1% in 2020 compared to the typical annual growth throughout the years of 2017 to 2019. When the pandemic is finished, this market's demand and growth will resume to pre-pandemic levels, which will explain the increase in CAGR.

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List Of the Key players in Identity And Access Management  Market:

·         Amazon Web Services Inc. (Washington, U.S.)

·         Akamai Technologies (Massachusetts, U.S.)

·         HP Development Company L.P. (California, U.S.)

·         Microsoft Corporation (Washington, U.S.)

·         Oracle Corporation (Texas, U.S.)

·         IBM Corporation (New York, U.S.)

·         ForgeRock (California, U.S.)

·         Thales Group (Paris, France)

·         Avatier (California, U.S.)

·         Symantec (Arizona, U.S.)

·         Beta Systems (Berlin, Germany)

·         CA Technologies (New York, U.S.)

·         Centrify (California, U.S.)

·         CyberArk (Massachusetts, U.S.)

·         Core Security (Massachusetts, U.S.)

·         Crossmatch (Florida, U.S.)

Regional Analysis:

The market is geographically divided into five main areas, including North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further divided up into nations.

In 2020, North America is anticipated to hold the largest market share. The use of remote work, cloud technologies, and an increase in cyberattacks are all contributing factors to this region's rise. The presence of important businesses like Amazon Web Services Inc., Akamai Technologies, HP Development Company L.P., Microsoft Corporation, Oracle Corporation, IBM Corporation, and others in the area also contributes to the market growth.

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 The key benefits of the Identity and Access Management (IAM) market include:

·         Improved security: IAM solutions provide secure authentication and authorization for users and devices, helping to protect against unauthorized access and data breaches.

·         Compliance: IAM solutions help organizations comply with various security and regulatory requirements, such as HIPAA, PCI-DSS, and SOX.

·         Increased efficiency: IAM solutions automate many of the manual processes involved in managing user identities and access rights, reducing the administrative burden on IT teams.

·         Better control over access: IAM solutions enable organizations to easily manage and monitor user access to systems, applications, and data, providing greater visibility and control over who has access to what.

·         Improved user experience: IAM solutions provide users with a single sign-on (SSO) experience, allowing them to access multiple systems and applications with a single set of credentials, resulting in a better user experience.

·         Reducing risk of insider threats: IAM solutions provide detailed logs of user activity, which can be used to detect and investigate insider threats and data breaches.

·         Reducing cost: IAM solutions can also help organizations reduce costs by reducing the need for multiple usernames and passwords, reducing the need for helpdesk support, and reducing the need for expensive security hardware and software.

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