According to a new study published by Report Ocean Market Research the global identity & access management (IAM) market is anticipated to reach USD 25.15 billion by 2026. The increasing adoption of connected devices, Bring Your Own Device (BYOD), Internet of Things (IoT) and audit management combined with cost control are the prime components boosting the market growth. Also, the growth in online applications and risk management compliance mandates are anticipated to impel the identity & access management market and thus it is projected to gain traction over the forecast period.
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The implementation of identity & access management systems has grown considerably in the last few years, inferable from the developing usage at enterprise level for unified checking and stringent government regulations to secure client information. The increase in occurrences of cyberattacks and rise in adoption of IoT (Internet of Things) are projected to drive the market. The absence of predefined set of rules and mandates in certain industries and concerns about cloud-based security is hampering the market development to a certain extent. Owing to the developing market for electronic security frameworks and various functionalities provided by IAM systems, the worldwide market is expected to grow at a high pace.
Identity access management market is projected to witness noteworthy development inferable from increasing interest throughout different application segments. Cloud and hybrid deployments are expected to gain adoption in the business due to improved security with decreased error rates. Growth in client interaction through physical, online networking, mobile, and different channels for monetary services has given way to enormous development to the IAM solution providers in the BFSI segment. Besides, the oil & gas and energy vertical is anticipated to develop at a significant growth rate amid the forecast years, attributable to innovative technology, for example, robotized framework and distributed computing among others.
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Key Findings from the study suggest that the application of IAM solutions in government segment represented a significant share of revenue in 2017 and is foreseen to show huge development throughout the forecast years. Prominent trends in the industry such as financial development, technological change and statistical developments should be equipped with dynamic framework, thus in turn driving interest for IAM systems. Numerous government organizations, for example, transportation and public utilities are executing strong security measures which are evaluated to drive market growth globally. The market for IAM in North American dominated the global market in 2017, and is projected to represent more than 30% of the overall share by 2026. Many offices in the North American region provide their employees with an equipment based individual recognizable proof confirmation card for gaining access to restricted areas. This has pushed the adoption of IAM in this region. Cloud IAM market is anticipated to witness strong demand over the forecast years, increasing at a high growth rate. Cloud deployments provide cost advantage and are anticipated to change the traditional IT security scenario.
The report aims to provide answers to the following key questions:
Target Market:
Who is your target audience?
What are their demographic characteristics (age, gender, location, income, etc.)?
What are their needs and preferences?
Are there any emerging trends or changes in their behavior?
Competitors:
Who are your main competitors?
What products or services do they offer?
What are their strengths and weaknesses?
How do you differentiate yourself from them?
Product/Service:
What are the features and benefits of your product/service?
How does it meet the needs of your target market?
What is the unique selling proposition (USP) of your offering?
What improvements or modifications would customers like to see?
Distribution Channels:
How do customers prefer to purchase similar products/services?
What distribution channels are most effective for reaching your target market?
Are there any untapped distribution channels that could be explored?
How do customers feel about online purchasing and delivery options?
Marketing and Advertising:
What are the most effective marketing channels to reach your target audience?
What messages and visuals resonate with your target market?
Are there any specific marketing campaigns or strategies that have been successful in your industry?
How do customers perceive your brand and its reputation?
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Customer Satisfaction:
How satisfied are your current customers with your product/service?
What are the factors that drive customer satisfaction or dissatisfaction?
Are there any unmet needs or pain points that your offering could address?
How likely are customers to recommend your product/service to others?
Market Size and Growth:
How large is your target market and what is its growth potential?
Are there any market segments that are underserved or have significant growth opportunities?
What are the barriers to entry for new competitors in the market?
Are there any external factors that could impact the market in the future (regulations, technology advancements, economic changes, etc.)?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Identity & Access Management (IAM) market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Identity & Access Management (IAM) market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Identity & Access Management (IAM) market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Identity & Access Management (IAM) business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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