{"id":21169,"date":"2020-07-28T05:25:21","date_gmt":"2020-07-28T05:25:21","guid":{"rendered":"https:\/\/www.veritis.com\/?p=10839"},"modified":"2025-06-07T07:38:55","modified_gmt":"2025-06-07T07:38:55","slug":"identity-and-access-management-iam-market-forecast-usd-25-billion-by-2026","status":"publish","type":"news","link":"https:\/\/demolobby.com\/veritisbeta\/news\/identity-and-access-management-iam-market-forecast-usd-25-billion-by-2026\/","title":{"rendered":"Identity and Access Management (IAM) Market Forecast: USD 25 Billion by 2026"},"content":{"rendered":"

\"Identity<\/p>\n

The evolving cybersecurity landscape is presenting many security threats in the current data-driven world.<\/p>\n

Rapid digital transformation<\/a> and increasing cloud space have further proliferated the risk vulnerabilities.<\/p>\n

According to a recent survey, the cost of data breaches is predicted to increase from USD 3 trillion each year to over USD 5 trillion in 2024, with an average annual growth of 11%.<\/p><\/blockquote>\n

Thus, securing information has become the business imperative for organizations across all verticals.<\/p>\n

That\u2019s when Identity and Access Management (IAM)<\/a> comes into play.<\/p>\n

Organizations and businesses across the world are leveraging IAM solutions and services to control access to their applications, devices and digital resources.<\/p>\n

With IAM, businesses can address the mission-critical need to ensure the right access to the right resources at the right time. An effective IAM solution creates streamlined and secured day-to-day operations across the enterprise through a suite of tools and capabilities.<\/p>\n

Given these aspects, IAM adoption is gaining huge traction with time.<\/p>\n

As per market estimates, the global Identity and Access Management (IAM) market is anticipated to grow from USD 9.90 billion in 2018 to USD 24.76 billion by 2026.<\/p><\/blockquote>\n

The demand for IAM implementation<\/a> is expected to rise at a CAGR of 13.2% from 2019 to 2026.<\/p>\n

\"Identity<\/p>\n

The increasing need to curb identity breaches and growing emphasis on regulatory compliance are the prominent factors fuelling the growth of the IAM market.<\/p>\n

The proliferation of Bring Your Own Devices (BYOD), Internet of Things (IoT), mobility, and remote workforce is expected to drive the adoption of IAM solutions<\/a> in the forecast period.<\/p>\n

Moreover, the adoption of blockchain technology, Artificial Intelligence (AI) and Machine Learning (ML) in IAM is anticipated to boost the global IAM market growth.<\/p>\n

Multifactor Authentication (MFA) Segment Registers Highest CAGR<\/strong><\/h2>\n

\"Multifactor<\/p>\n

Based on components, the IAM market is categorized into provisioning, single sign-on, multifactor authentication, directory services, password management, and audit, compliance and governance.<\/p>\n

Among them, the multifactor authentication segment is expected to grow at the highest CAGR of 17% over the forecast period.<\/p>\n

The increased need for a robust authentication mechanism is considered to be the key factor in boosting the growth of the MFA application.<\/p>\n

Moreover, the adoption of innovative authentication technologies such as biometrics and smart cards is anticipated to boost the multifactor authentication segment.<\/p>\n

Cloud Adoption Set to Drive IAM Market<\/strong><\/h3>\n

Based on deployment, the IAM market is bifurcated into cloud<\/a>, hybrid and on-premise. Among them, the cloud segment is expected to be the fastest-growing segment during the forecast period.<\/p>\n

\"Global<\/p>\n

The increasing demand for cloud migration<\/a> among different organizations is the key factor contributing to the segment growth. The cloud-based IAM solutions<\/a> provide various benefits such as simplified management, single access control interface, enhanced security, resource-level access control, and reduced operational costs.<\/p>\n

North America Leads By Region<\/strong><\/h3>\n

\"North<\/p>\n

Regionally, North America led the global IAM market with a market share of over 38% in terms of revenue in 2018 and is expected to continue during the forecast period. The emergence of federal-level and state-level data privacy laws such as CCPA and New York Privacy Act is the prime factor stimulating the regional market growth.<\/p>\n

Currently, all 50 states in the US have their own data regulatory laws to address cybersecurity concerns.<\/p>\n

However, the Asia Pacific IAM market is poised to be the most promising region over the forecast period, with an estimated CAGR of 15%.<\/p>\n

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