The identity and access management (IAM) market is projected to grow at a compound annual growth rate of 13.3%, reaching a total value of USD 39,184.4 million by 2030. IAM solutions play a crucial role in providing secure access by ensuring that only authorized individuals can access specific resources, at the right time and for appropriate reasons. This technology enables end users to maintain controlled access to various systems, applications, and data from any location.
The solutions category dominates the IAM market, as it assists organizations in implementing comprehensive security policies across platforms, applications, and systems. Rising data breaches are prompting businesses to adopt centralized security approaches, fueling the need for IAM solutions.
Demand for cloud-based IAM services, such as Identity-as-a-Service (IDaaS), is expected to surge due to their cost-effectiveness, ease of management, and increased adoption by small and medium-sized enterprises. These solutions require lower capital investment and less time to deploy. Additionally, hybrid models offer the flexibility of both on-premises and cloud access, supporting the adoption of IAM technologies.
In recent years, the BFSI sector has experienced rapid expansion due to higher income levels. Given the sensitive data handled by BFSI organizations, strong security is essential. These organizations are leveraging IAM solutions to enhance security, improve compliance, reduce IT expenses, and boost productivity.
North America has been a major contributor to the IAM market, accounting for around 40% of the market share due to the presence of federal agencies like the Department of the Interior, Transportation, and Veterans Affairs in the U.S., which mandate robust authentication for accessing government networks. Similarly, Europe ranks high in revenue generation, driven by regulatory and compliance mandates, particularly in GDPR-compliant regions like Germany, Italy, France, the U.K., and Spain.
Globally, the rising rate of cyberattacks and data breaches continues to elevate demand for IAM solutions, with this upward trend expected to persist for years.
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