by Identity and access management (IAM) solutions provide authenticated access to critical information and enterprise resources. IAM products offer user provisioning, single sign-on, governance and administration capabilities to manage identities, entitlements and access privileges across multiple systems. The complexity and heterogeneity of IT environments require a centralized approach to access control across applications, cloud services, mobile devices and more. IAM streamlines onboarding, offboarding and account management to comply with IT policies while simplifying the user experience. The global Identity and Access Management Market is estimated to be valued at US$ 15.07 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the identity and access management market is increasing digital transformation across industries. As businesses adopt cloud-based solutions and offer remote access to resources through mobile and web interfaces, securing identities and access becomes critically important. Adopting centralized IAM solutions allows organizations to unify authentication across heterogeneous systems and comply with data protection laws. Another major trend is identity-as-a-service (IDaaS), which offers cloud-based IAM capabilities on a consumption model. IDaaS solutions enable SMBs to deploy advanced access control without significant upfront investments. Their usage-based pricing lowers the total cost of ownership of IAM implementation. As more enterprises embrace digitalization and distributed work models, the IDaaS market is expected to witness robust growth over the next decade.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of open source solutions enable new companies to enter this market. However, the presence of large established vendors makes it difficult for new entrants to acquire new customers and scale up.
Bargaining power of buyers: As Identity and Access Management solutions become crucial for corporate security and compliance, buyers have moderate bargaining power. They can negotiate on pricing and demand additional features.
Bargaining power of suppliers: A few large vendors dominate the market, giving them higher bargaining power over buyers. However, the threat of substitutes balances their bargaining power.
Threat of new substitutes: Blockchain and other emerging technologies offer alternatives for secure identity management. This poses a moderate threat to traditional IAM providers.
Competitive rivalry: The market comprises large global players and numerous regional and local vendors. Intense competition on pricing, features, and services keeps rivalry high.
Key Takeaways
The Global Identity And Access Management Market Size is expected to witness high growth. Rapid digital transformation and growing security threats are driving enterprises to adopt robust IAM solutions for access control and user provisioning.
Regional Analysis: North America currently dominates due to strong regulatory compliance and an early adopter culture. The Asia Pacific region is expected to grow at the fastest pace owing to rising adoption of cloud services and growing cybersecurity budgets in major countries like India and China.
Key players operating in the Identity and Access Management market are Autodesk Inc., IES (Integrated Environmental Solutions), Bentley Systems, Dassault Systà ̈mes, EnergyPlus, CYPE Software, DesignBuilder Software, IESVE (IES Virtual Environment), Carrier, eQUEST, Trane Technologies, IES TaP, IES SCAN, Trimble, and EnergySoft. Autodesk has a robust IAM platform for infrastructure projects while Bentley offers comprehensive access control for engineering design workflows. IES develops specialized IAM tools for building performance simulation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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