Capital investment drives the IAM markets

Northbrook, Il (USA)

The identity and access management market is projected to grow from USD 12.3 billion in 2020 to USD 24.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period, according to the latest research coming from Marketsandmarkets. Increased venture capital funding and growing investments in IAM technology is said to be driving the market growth.

The analysts predict that by service, the support and maintenance service segment will register the highest growth rate during the forecast period. Support and maintenance services include support related to IAM products. IAM vendors provide technical support during the implementation and use of IAM solutions. Maintenance services include providing enhancements to solutions and assisting in resolving issues in deployed solutions. The demand for support and maintenance services is expected to increase with the deployment of IAM solutions.

It is estimated that the healthcare sector will register the highest growth in vertical markets, as this area is rapidly deploying cutting-edge technologies to offer patients improved, intuitive, and personalised care and experience. IAM solutions help healthcare organisations address the security issues related to users’ credentials and help them deliver an enriched experience to their patients.

As might be expected, North America has the presence of several prominent market players delivering IAM solutions to all end-users in the region. The US and Canada are expected to be major contributors to the growth of the IAM market. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for the deployment of IAM and services. Major vendors, such as IBM, Microsoft, Salesforce, SAP, and Broadcom are all present in the region.

Other key and innovative vendors in the IAM market as named by Marketandmarkets in the report include Oracle, Okta, Ping Identity, Forgerock, HID Global, Ubisecure, Onelogin, Cyberark, AWS, Sailpoint Technologies, RSA, Saviynt, Avatier, Secureauth Corporation, and Manageengine.


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