Physical identity and access management (PIAM) arrangements are adopted by various enterprises due to product and technology expansion, compliance mandates, and a better desire to achieve substitute user populations such as a sharp emphasis on secure and timely access.
Additionally, a secure physical identity and access management (PIAM) is influencing the best-industry practice, which allows to streamline approval processes and access request across multiple types of people, physical access systems, and user-access profiles.
A automate and streamline physical security tasks is allow to access on PIAM platform by using pre- packaged approval. Moreover, a physical identity & access management (PIAM) system is installed in various enterprises to avoid fraud and unauthorized access, to maintain authenticity, and to maintain the process of smooth data sharing.
This factor is boosting the demand of Physical Identity and Access Management (PIAM) market in coming years. The PIAM market is predicted to expand consistently during the forecast period.
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The global Physical Identity and Access Management (PIAM) market can be segmented into offering type, end-use industry, and geography. In terms of offering types, the global Physical Identity and Access Management (PIAM) market can be segmented into software and service.
This Physical identity and access management (PIAM) includes various physical security application such as badge management, physical asset management, visitor management, access control systems, and vehicle management. Various enterprises are now focusing on their in PIAM solution due to increasing security concerns related to customer access management services, which is estimated to propel the demand for PIAM solutions in the market in the near future.
Additionally, in terms of end-use industry, the global Physical Identity and Access Management (PIAM) market can be segmented into aerospace and defense, government, pharmaceutical, chemical, telecommunication and IT, Banking Financial Services, & Insurance (BFSI), and logistics. Across the globe, there is an increasing need to effectively manage the several commuters without negotiating on security features.
Advanced physical Identity and Access Management (PIAM) solutions have proven to reduce complexities and risk for industries such as oil & gas, utilities, government and federal, and airports. Federal agencies and airports management services are able to reduce the service costs and decision time to establish an identity with the help of proper lifecycle management and identity credentialing.
This, in turn, is projected to fuel the demand for global Physical Identity and Access Management (PIAM) solutions in the during the forecast period. Furthermore, physical Identity and Access Management (PIAM) vendors are now focusing on linking the physical access control system with the help of various IT network directory structures.
This newly developed solution is allowing to access the corporate resources and applications which includes email, messaging, network access, and databases. This factor is expected to act as an opportunity for the PIAM market in the near future.
In terms of geography, the Physical Identity and Access Management (PIAM) market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is estimated to dominate the global Physical Identity and Access Management (PIAM) market during the forecast period due to a large number of end use industries that are adopting this technology to streamline operations in the region.
The Asia Pacific market is projected to expand at a significant CAGR rate during the forecast period. Asia Pacific is likely to be the most attractive market for various PIAM vendors during the forecast period due to the strong presence of companies from the BFSI, healthcare, and IT sectors who are focusing on installation of PIAM solutions.
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Prominent players operating in the global Physical Identity and Access Management (PIAM) market include AlertEnterprise (U.S.), Access Security Corporation (U.S), IDCUBE (India), Quantum Secure (U.S.), IBM Corporation (U.S), Dell Inc.( U.S.), and Oracle Corporation (U.S.).
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