The global identity and access management market is anticipated to grow at a significant CAGR of 13.5% during the forecast period. The major factor driving the growth of the identity and access management market during the forecast globally is the increasing instances of security breaches and growing instances of identity-related fraud. According to the Federal Trade Commission (FTC), in 2020, identity fraud incidents increased by almost 45% incurring huge financial losses globally. For the same timeframe, ID thefts of more than one million children were reported by FTC. Furthermore, in 2021, around 1.4 million reports of identity theft were received by the FTC. Hence, the increasing instances of identity theft are driving the demand for identity and access management solutions which in turn is driving the market growth.
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Among the components, the verification solutions sub-segment in the global identity and access management market is expected to hold a prominent share over the forecast period. The factor driving the segment includes the growing demand for verification of individuals due to increasing security breaches globally. For instance, in April 2020, Nintendo reported that 160,000 users were affected by a mass account hijacking that leveraged the company’s NNID legacy login system giving hackers access to payment services linked to these accounts including PayPal accounts or credit cards. Additionally, due to the rapid growth of businesses, the need for identity and access management solutions is increasing and identity verification is an essential part of it which in turn is driving the growth of the segment.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Identity and Access Management Market Report by Segment
By Component
- Solution
o Data Directory
o Identity Lifecycle Management
o Provisioning
o De-provisioning
o Authentication
o Verification
o Password Management
o Self-Service Password Reset
o Password Reset
o Password Synchronization
o Access Management and Authorization
o Audit, Compliance, and Governance
- Service
o Integration and Deployment
o Support and Maintenance
o Consulting
By Deployment Mode
- Cloud
- On-Premises
By Organization Size
- SMEs
- Large Enterprises
By Vertical
- BFSI
- Travel and Hospitality
- Healthcare
- Retail and eCommerce
- IT and ITeS
- Education
- Others
Global Identity and Access Management Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global identity and access management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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