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The identity and access management (IAM) market is mainly driven by the declining number of services required for operation of an IAM development (via- cloud IAM). This is due to the fact that it is very difficult for small and medium sized enterprises to afford conventional cost structure. The small and medium sized enterprises across the globe are expected to invest in identity and access management projects in the near future owing to low lucrative pricing offers such as usage based pricing and monthly subscription provided by IAM service providers. The other drivers for global identity and access management market are compliance with corporate performance standards, and rising cloud and software as a service (SaaS) adoption. Identity and access management (IAM) is used to realize the business benefits in terms of management control, operational efficiency, cost savings, and business development for e-Commerce.
Identity and access management (IAM) is the security discipline that facilitates the authorized individuals to access the right resources at the correct times for the right reasons. IAM is a solution that helps end-users to make sure that access across various technological environments is granted only to the right individuals. Identity and access management solutions provide secure, identity-based access to various applications, systems, and information from any location. Identity and access management resolutions helps enterprises to manage security across several systems by allowing employees access with a single sign-on password. Identity and access management solutions are able to avoid falsified activities, thereby avoiding data abuse. Hence, identity and access management solutions are being widely implemented by large and medium-scale enterprises as well as government divisions.
The global identity and access management market can be segmented on the basis of components, organization size, end-users and deployment size. On the basis of components, the global identity and access management market can be divided into directory technologies, password management, single sign on (SSO), advanced authentication, governance, audit, and compliance. Based upon organization size, the market can be segmented into medium sized businesses, small businesses, and enterprises. Based on end-users the market can be categorized into banking, financial services and insurance (BFSI), public sector and utilities, telecommunication and IT, energy, manufacturing, oil and gas, healthcare, education, retail, and wholesale distribution. On the basis of deployment size, the identity and access management market can be segmented into on-premises, cloud, and hybrid deployment.
However, the need to connect and manage complex structure of joined digital identities which include compatibility, integration, and interoperability of data is one of the major challenges obstructing the growth of the global identity and access management market.
The identity and access management market has also witnessed certain acquisitions in the recent years. For instance, in 2015, International Business Machines Corp (IBM), has made strategic acquisitions including Lighthouse Security Group and CrossIdeas to strengthen the IBM identity and access management (IAM) portfolio. The major competitors in the global identity and access management market include International Business Machines Corp., CA, Dell, Symantec Corporation, Oracle Corp, EMC Corporation, Amazon Web Services, Inc., Atos SE. Some of the other competitors in the global identity and access management market are, OneLogin, Inc, GitHub, Inc., Micro Focus, Omada Health Inc, Aujas Networks Pvt. Ltd., Courion Corporation, Covisint Corporation., and Avatier.