This has been the primary factor behind the dominance of North America in the identity and access management market.Īsia Pacific region's identity and access management market is expected to register the fastest growth owing to the increasing number of cyber-attacks being launched at companies in India. North America has been a primary target of cybercriminals owing to extensive digitization across industries, adoption of cloud technologies, and high data consumption in the region. The above factors are creating favourable business prospects for the growth of the global identity and access management market in the forecast period.Įxtensive Digitalisation Propels North America Region to a Position of Market Leadership This has furthered the need to switch to specialized cybersecurity tools.
This has made it hard for cybersecurity professionals to accurately monitor who is accessing their company's confidential data and how secure their connection is. Users are now accessing their work data while using smartphones, personal computers, laptops, and public internet. The rapid adoption of cloud-based technologies for remote work models has motivated organizations across the world to employ advanced cybersecurity solutions. Modern solutions, competent personnel, and robust cybersecurity infrastructure are in high demand as organizations rush to overcome cybersecurity vulnerabilities. The growing number and intensity of identity thefts and other cyberattacks have motivated organizations throughout the world to reconsider their cybersecurity strategy. The North America region accounted for over 29.9% of the total market share in 2019Įvolving Work Culture Create Promising Growth Opportunities
Prominent Highlights of Identity and Access Management Marketīased on deployment, cloud deployment segment accounts for over 75.5% of the identity and theft management marketĭata directory (14.7%) and identity lifecycle management (19.1%) were the leading solutions in the market in 2019 The incessant rise in cyberattacks and identity thefts has propelled cybersecurity solutions such as identity and access management to the status of utmost importance, factoring into the paced growth of the global identity and access management market. These have resulted in massive financial losses for individuals, as well as damage to companies' reputations and compromised assets. Modern cybercriminals also utilize technological advancements such as machine learning to boost the intensity and volume of their attacks. Industry experts state that identity fraud grew by 45% in the year 2020. Personal information stored on countless servers across the world is also vulnerable, leading to a growing number of identity thefts. Over the past decade, growing internet usage and robust digitization of various business processes have attracted the interest of malicious entities such as hackers and other cybercriminals. DUBLIN-( BUSINESS WIRE)-The "Identity and Access Management Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)" report has been added to 's offering.Īccording to the publisher, the global identity and access management market is expected to exhibit paced growth at a CAGR of 14.8% during 20, growing from a valuation of US$ 10,145.0 million in 2019 to US$ 24,849.0 million in 2026.