The current situation has forced quite a lot of sectors to move their resources and infrastructure to the cloud environment. Irrelevant of on-premises or cloud environment, Identity and Access management is undoubtedly of immense importance in the cybersecurity space. The global customer identity and access management software market focuses on performing core statistical tests of customer identity and access management software for the software industry, adding value to our readers by helping them find market barriers. The research reports on global distribution, manufacturers, market size and market factors affecting global contributions. In addition, research on customer identity and access management software will shift the focus to a deeper competitive landscape, clear growth opportunities and market share. The nature of the product and application, the main company responsible for its production, and the strategy used are also noted.
At its core, identity and access management is about ensuring that a user’s identity is authenticated with a high level of security and that the user is authorized to access the right services they need to be productive and efficient. It may sound simple, but that is really it. Amid the COVID-19 crisis, the global Cloud Identity and Access Management (IAM) market, valued at $ 3.1 billion in 2020, is projected to be a revised size of $ 13.5 billion by 2026 and grow with a CAGR of 26.7%. User provisioning, one of the segments analyzed in the report, is expected to register 27.3 CAGR and reach $ 7 billion by the end of the analysis period. Due to the economic crisis, growth in the single sign-on segment will be adjusted to a revised 28.6% CAGR for the next 7-year period.
The Cloud Identity and Access Management (IAM) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2026 trailing a CAGR of 30.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 22.3% and 23.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 23.8% CAGR. Going forward, demand is expected to increase for systems that are more flexible and deliver results in the real-time. IAM tools capable of providing continuous and seamless authentication will be in high demand. [Reference]
The digital transformation has accelerated in recent years. The need for remote access due to COVID-19, combined with additional technological changes such as global connectivity and digitization, has increased the demand for cloud and microservice architectures. In fact, many companies founded in the last 10 years were born in the cloud. As a result, security has changed. Organization networks were once based on the perimeter and were protected physically and by firewalls. In the cloud, identity is the new perimeter, so identity and access permissions are the security parameters with the highest risk impact. [Reference]
Ultimately, we are steering into a future without passwords: Standards and systems such as FIDO2, security keys (Yubikeys, Google Titan Keys) and biometrics (FaceID, TouchID) make manual password entry superfluous and pave the way for a future digital environment that is less susceptible to human Failure is … and much easier for overworked IT departments. The implementation of IAM platforms as a first line of defense be able to monitor the activity of all actors on your network and quickly identify significant changes in behavior and anomalies to detect a potential breach as soon as it happens – as well as deliver a complete audit trail for future investigation and compliance. While most IAM platforms have a much wider feature set, these capabilities will deter the vast majority of data breach attempts that happen today
Article by Kaushik Sundararajan
I am a security professional specializing in network security. With vivid experience in different industries, I am looking to explore the current cyberspace and discuss the ideology of certain ideas from a different perspective.