The report "Global Identity & Access Management Market - Trends Analysis, Product Usability Profiles & Forecasts to 2024", published by 360iResearch, states that the global market was valued at USD 7,803.61 million in 2016 and is projected to reach USD 23,212.65 million by 2024, growing at a CAGR of 14.60% from 2016 to 2024.
The major forces driving the growth of the identity & access management market include the effective and authorized access to critical resources and accountability and greater transparency with one identity solution. Moreover, enhanced security to authenticate identity and access is also one of the factors that is driving the market growth. However certain factors such as the increase in security concern due to cloud-based application and byod may hinder the market growth. In the middle of difficulty lies opportunity such as the strategic tool for improving corporate performance and information security, a centralized cloud-based iam system for productive provisioning, and a security specific tool that can identify vulnerabilities inside big data. The possible challenges for the market growth are increasingly distributed mobile workforce and applications, invisible complexity due to moving of system to the cloud, and third party security. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global identity & access management market is studied across aerospace & defense, automotive & transportation & logistics, banking, financial services & insurance, building, construction & real estate, consumer goods & retail, education, energy & utilities, government & public sector, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, and travel & hospitality. Based on geography, the global identity & access management market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the identity & access management market and provides inclusive analysis of key growth strategies adopted by major players. Key products profiled in the study are AWS Identity and Access Management, Azure Active Directory, Bitium, CA Identity Suite, Centrify Identity Services, CyberArk Privileged Account Security, Gigya, IBM Cloud Identity Service, IBM Security Access Manager, IBM Security Privileged Identity Manager, Okta Identity and Access Management, OneLogin Identity Access Management Solution, Oracle Identity Manager, RSA SecurID Suite, and Salesforce Identity.
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