An organization’s operating efficiency can be improved by formulating a well-defined process to manage information access. In order to offer access to enterprise information for trading partners, customers, and employees, companies need to offer an enhanced infrastructure.
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Identity & Access Management (IAM) market size is estimated to reach USD 26.74 billion by 2022, as per a new research report by Global Market Insights, Inc. Increasing need for advanced network capabilities accompanied by cloud-native architecture is likely to propel the industry demand over the few coming years.
A large number of enterprises are unable to manage the security administration requirements of all users through manual measures owing to huge customer base. While automating, these enterprises divest the administrative costs to customers or end-users.
Extranet Access Management (EAM) products are anticipated to play a key role in end-user self registration. It also helps in portal and personalization implementation as well as outsourcing.
Since numerous enterprises outsource their IT operations, service providers must have a well-defined security administration function. This security function helps in making operations efficient as well as cost effective for both entities.
Automating the process aids in time-saving across wide areas, by reducing the time frame to approve access requests for approvals. It allows revenue producing contractors and employees get access to desired resources, thus improving the overall organizational efficiency.
Additionally, enterprises produce reports for everyday security administration purposes. Obtaining the required information from a centralized facility would improve operational efficiency.
Surging use of mobile apps as well as cloud services in order to optimize cost and drive productivity is predicted to increase the complexity of IT. Growing usage of various types of applications and resources may also increase the complexity.
Companies are now making a shift to hybrid on-premise/on-demand paradigm for controlling access to data as well as applications. Feasible models such as SaaS offer ease of application access.
Patient identity management is likely to help in controlling access to patient's private data. Increasing usage of electronic healthcare records is predicted to drive the need for implementation of IAM systems.
Simple and secure online experience provided by telecom and IT companies may provide growth avenues for the IAM market over the forecast period.
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Key report insights suggest:
Asia Pacific IAM market size is predicted to reach USD 6.8 billion by 2022. Increasing application of these solutions coupled with surging cyber threats on critical infrastructure is likely to drive the industry across the region over the coming years.
North America IAM market share accounted for over 35% of the global revenue in 2014 and is predicted to experience moderate growth.
Cloud IAM market share in estimated to grow at a CAGR of over 20% from 2015 to 2022. Numerous benefits offered by cloud service include less cost involvement, no hardware or software deployment and offers simplified management.
On-premise deployment is anticipated to use traditional in-house data centers for controlling security patches as well as offer software updates.
Surging demand in BFSI applications owing to high security offered is anticipated to propel the IAM market growth from 2015 to 2022. Education sector is projected to experience significant growth.
Growing demand for various services make it crucial for institutions to ensure that digital transactions are secure. IAM offers confidentiality by establishing a secure process for user identification and set protocols for controlling online access to resources.
Key industry participants accumulating major IAM market share include OneLogin, CA Technologies, Centrify, Amazon Web services, Oracle, ForgeRock Inc, Net IQ, Dell Software, HP, IBM, EMC Corporation, and HID Global Corporation.
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