The global identity and access management (IAM) market size is expected to reach USD 24.12 billion by 2025, at a CAGR of 13.1% over the forecast period according to a new report by Grand View Research, Inc. Proliferation of cloud services and Bring Your Own Devices (BYOD) within the organization have raised concerns and provided a potentially gateway for threats. However, IAM has potentially reduced the complexity and risk of managing identities by providing robust controlling access to its user.
Stringent compliance by the government bodies to curb theft of sensitive and identity information has compelled the organizations to substantially improve their spending on IT security. Moreover, the growth of web-based applications, risk management such as policy-based compliance and audit management are anticipated to be the key factors driving IAM demand. Additionally, the growing popularity of connected devices and the Internet of Things (IoT) are expected to create a substantial demand for IAM solutions within organizations.
Adoption of cloud deployment in the sizes of the organization is rapidly growing owing to the cost-effectiveness and flexibility in carrying out the business functions. Moreover, it also offers an organization the opportunity to digitally transform their IT infrastructure, thereby gaining a competitive edge in the market. However, cyberspace networks are increasingly getting vulnerable to cyber and malware attacks. Thus, IAM provides a unified view into security policy coupled with auditing to ease compliance processes within the organization.
In the digitally advanced cyberspace, managing access control and identities for enterprise applications act as one of the significant challenges faced by IT. As on-demand computing services are anticipated to become more prominent, incorporating cloud-based identity services would ensure robust security in the long run.
Moreover, adoption of cloud platforms such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and, Software as a Service (SaaS) have necessitated the IT departments to improve the organization’s IAM. Thus, improved IAM practices and processes are expected to help the cloud services provider to deliver robust services and provide scalability for the user. Furthermore, utilizing cloud-based services has put the IT security function as a significant concern for the organization. Thus, enterprises are expected to adopt IAM solutions to curb advanced cyber-attacks over the forecast period.
Further key findings from the report suggest:
- Provisioning component segment accounted for highest market share of 30.71% in terms of revenue in 2018
- Multifactor authentication component segment is anticipated to witness the highest CAGR of 17.0% over the forecast period
- On-premise deployment segment led the identity and access management market and was valued at USD 5.28 billion in 2018
- BFSI end use segment is anticipated to witness the highest CAGR of 14.7% over the forecast period
- Asia Pacific is expected to expand at the highest CAGR of 15.6% over the forecast period
- Oracle, IBM Corporation, CA Technologies, NetIQ Corporation, HID Global Corporation and others accounting for the majority share of the market in 2018
Access full research report on global identity and access management market: www.grandviewresearch.com/industry-analysis/identity-and-access-management-iam
This holds true across the board for individuals in their homes, small businesses, mid-sized organizations,and enterprise-level businesses.
A report published by the Identity Theft Resource Center indicated between 2016 and 2017 there were nearly 1,600 reported data breaches, which was a 44 percent increase from the prior year.
These numbers are likely only going to continue getting higher, particularly with new developments such as a widespread integration of the Internet of Things.
When a business invests the necessary time and resources into thorough network security, it helps to protect their intellectual property and their clients, as well as their reputation and data, and it reduces inefficiency and lost productivity.
Access Control: This is a fundamental aspect of any type of network management and security.
Any application can have vulnerabilities that leave you exposed to a potential cyber attack, so this is a big one to focus on.
https://www.justwebworld.com/what-should-you-know-about-network-security/
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