Market Overview:
The identity and access management (IAM) market facilitates the management of electronic identities and associated access privileges across electronic/physical assets. The system simplifies user access and provisioning while maintaining policy-based security. IAM automates the secure provisioning, access approval workflows, and de-provisioning of user accounts. IAM solutions are gaining popularity due to their ability to streamline processes and maintain regulatory & policy compliance.

The Global Identity and Access Management Market is estimated to be valued at US$ 18.09 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031

Key Takeaways:

Key players operating in the identity and access management market are Autodesk Inc., IES (Integrated Environmental Solutions), Bentley Systems, Dassault Systèmes, EnergyPlus, CYPE Software, DesignBuilder Software, IESVE (IES Virtual Environment), Carrier, eQUEST, Trane Technologies, IES TaP, IES SCAN, Trimble, and EnergySoft.

The increasing adoption of digital technologies, cloud applications and remote working trends are driving the demand for IAM solutions. As organizations expand operations digitally, there is an increasing need to centralize identity management and streamline access provisioning.

Globally, North America accounted for the largest share in the IAM market in 2024. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rapid digitalization and increasing cybersecurity investments in developing countries such as China and India.

Market Drivers:
The increasing incidence of cyber attacks and data breaches have heightened the need for robust identity and access management controls. Strong IAM practices are critical for enterprises to detect anomalies, prevent unauthorized access and data theft. The growing awareness about the importance of compliance with data privacy regulations such as GDPR is a key factor driving increased adoption of IAM solutions.

Current Geopolitical Impact on Identity and Access Management Market Growth

The global geopolitical situation has significantly impacted the growth of the identity and access management market. The ongoing Russia-Ukraine conflict and rising geopolitical tensions between major global powers have increased the risks of cyberattacks. Organizations across sectors have experienced sophisticated phishing attacks, ransomware, and data breaches in the recent past. This has accelerated the need to strengthen identity access and security controls for both remote and on-site workforce. Companies need advanced identity proofing, authentication, authorization, multi-factor authentication, and user lifecycle management solutions to protect critical assets and ensure business continuity. The market is expected to witness higher investments to meet evolving compliance needs and mitigate security risks arising due to changing geopolitical dynamics.

Geographical Regions with High Market Concentration

North America dominates the identity and access management market with the highest value share currently. The region has established stringent data privacy legislations such as GDPR and CCPA driving compliance applications of IAM solutions across industries. Several large enterprises as well as government agencies in the US and Canada rely on identity and access management systems for securing access to multiple on-premises and cloud-based applications. Asia Pacific is estimated to experience the fastest growth on account of growing digitization initiatives by governments and enterprises in major countries including India, China, and Australia. The need to safeguard critical information infrastructure from evolving cyber threats is prompting organizations across APAC industries to adopt best-in-class identity management practices and platforms.

Fastest Growing Regional Market

The identity and access management market size in Asia Pacific is projected to expand at the fastest rate during the forecast period. Rapid digital transformation, increasing cloud migration, rising mobile workforce, emergence of Bring Your Own Device (BYOD) trends, and growing awareness about identity-centric security solutions are some key factors contributing to increased IAM spending across industries in APAC countries. China, Japan and India have emerged as lucrative and high potential markets. Implementation of favourable privacy laws and initiatives such as Digital India are also positively impacting the adoption of advanced IAM solutions in APAC. The regional market is expected to witness substantial investments from global IAM vendors looking to tap into new business opportunities and expand footprint in high growth Asia Pacific economies.

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