With the passage of economic crisis since 2011 the global market had experienced economic recoveries and organizations have accumulated the budget to make investments in IAM projects in which the benefits with regard to expenses are realized within the mid to long term.
ResearchFox analyzed the gaps between the expected and realized benefits of IAM projects which were the most prominent reason for failure. Thus concluding that the value of IAM is genuine to organizations as they are still investing in it. The challenge for the upcoming years is to realize the expected benefits. With limited budgets due to the economic slowdown, organizations have to make careful choices relating to the scope and the approach. This implies a need for strong program management and a clear roadmap for IAM.
Scope of Research for IAM Market
The global IAM market is segmented on the basis of the types of deployments, components, geographic regions and verticals based on the pulse of the market. The deployment market segment is further sub-divided into On Premises, Cloud based and Hybrid. The components are also broken in sub parts like Provisioning, Directory Technologies, Single Sign On (SSO), Advanced Authentication, Password Management and Audit compliance & Governance. Furthermore, on the basis of geographic regions, the global industry is categorized into US (NA & LA), Europe, Middle East Africa and Asia Pacific. Also vertical wise segmentation includes Government, Banking and Financial services, Healthcare, Services and Support and Manufacturing. The detailed analysis presents the trends of the industry, providing crucial details about the future growth path for this industry.
Drivers and Forecast
The ultimate goal of the Identity and Access Management process is the application of the ‘determining governance’ principle. Users have only those permissions they actually need to perform their duties, without unnecessary limitations. Identity Management will also provide you with an effective and efficient provisioning system for the automated creation, changing and revocation of permissions and users. The net result is lower costs, improved security, enhanced efficiency and compliance.
From our forecasted figures it is revealed that this market would experience a double – digit growth, because of the various benefits of IAM in the world of enterprise security.
The overall value of Identity and Access Management entirely depends on the level and easiness with which it integrates with other enterprise systems. Some of the business drivers for automated identity access management includes: cost savings, enhanced operational efficiency, risk management and compliance with internal and external regulatory requirements.
The key concerns among CIOs and CSOs when it comes to cloud adoption include security is Identity and Authentication. So, there will definitely be a strong IAM play in the cloud space.
The Identity Access Management market, which was growing at nearly 10 -12 percent till date is forecasted to have a CAGR of 15.25 percent by 2018 with a market size of 10409.78 Mn. Moreover, it is also forecasted that the IAM product and pricing will drop by 40 percent in the next 4 to 5 years relative to today in real terms.