PRNEWSWIRE: The global identity and access management market size is estimated to reach $22.68 billion by 2025, rising at a CAGR of 12.7%, according to the “Identity and Access Management (IAM) Market Analysis Report By Deployment (Cloud, Hybrid, On-Premise), By End Use (BFSI, Telecom & IT, Public Sector, Healthcare), And Segment Forecasts, 2018 – 2025” report.
Spiraling adoption of cloud services and mobile devices and emergence of insider threats combined with strict compliance necessities are leading to increased spending on organization IT security, which is estimated to stoke the growth of the market.
Based on end use, the public sector and utilities segment accounted for the leading share in the IAM market in 2017.On the basis of deployment, cloud is anticipated to be the most promising segment during the forecast period. Cloud is changing the way a business operates. It facilitates a different level of cost-benefit, flexibility, and efficiency to carry out business functions. Moreover, it also provides organization an opportunity to transform their business models and gain a competitive edge over their competitors. Managing identities and accessing control for enterprise applications act as one of the prominent challenges faced by IT.
Extending a company’s identity services into cloud model is a notable requirement for use of on-demand computing services in long run. Various cloud delivery models such as SaaS, PaaS, and IaaS call for service providers and IT departments to extend organization’s IAM processes, practices, and procedures to cloud services that are efficient and scalable for customers and providers. Utilizing more cloud-based services puts IT security function on the forefront of a company’s planning activities, which is likely to drive the market over the forecast period.
Further key findings from the report suggest:
- On-premise was the most prominent deployment segment in the market in 2017. It is poised to reach $11.05 billion by 2025
- The BFSI segment is projected to exhibit the highest CAGR of 14.4% during the forecast period
- The market in Asia Pacific is estimated to experience the fastest growth in the global arena during the same period. Emerging economies such as China, India, and Japan, which are increasingly deploying IAM solutions and services to address cybersecurity concerns are playing a pivotal role in the development of the regional market
The report is available here: https://www.researchandmarkets.com/research/mllp9t/global_identity?w=5