Identity access management system (IAM) market is a structure for business practice that facilitates the management of electronic identities. The structure consists of the technology needed to support identity management. It is mainly a task of controlling the information about the users on computers that is the information that validates the identity of a user. It also includes the descriptive information about the user and how and by whom that information can be accessed and modified.
In short it is defined as the management of complete lifecycle of digital identities in observance to access policies which includes validation, approval and audit. IAM consist of processes, people and products to handle identities and admittance to resources of an enterprise. In addition with that, the organizations shall have to make sure the appropriateness of data in order for the IAM Framework to function suitably. IAM modules can be classified into 4 major categories: authorization, authentication, central user repository (Enterprise Directory), and user management. The ultimate purpose of IAM Framework is to endow with the right people with the right access at the right point.
The markets can be largely segmented by deployment types: cloud, on-premises, and hybrid then again by type of components: directory technologies, provisioning, password management, Single Sign On (SSO), compliance, advanced authentication, audit, and governance; and then by business types: Enterprises, medium-sized businesses, and small-sized businesses, and lastly by end-users/verticals: Telecommunication and IT, public sector, manufacturing sector, banking and Finance Services Insurance (BFSI), energy and power sector, retail and wholesale distribution, healthcare, education, and other sectors
Necessitate to bond and manage persistently and growing number of distributed digital identities across business has always continued to be one of the key restraints for enterprises. In addition with that many of the companies now are using different types of software, hardware and Huge investments, Prior planning,, and long lead time correlated with the thriving deployment of an Identity and Access Management (IAM) project was limiting Small- and Medium-sized Enterprises (SMEs) to implement technological solutions communicated to IAM, but with the totaling of the number of cloud-based applications across all SMEs, the need to deal with numerous accounts and rights is expected to grow massively which in turn will generate these business to accept cloud-based IAM solutions requiring minimal primary investments.
Strengthening regulatory compliances, increasing enterprise mobility, and increase in implementation of web-based applications is considered to be the three principal drivers behind growing performance of cloud-based IAM solutions. With IAM solutions, a business can gain advantages such as shielding businesses from internal and external intimidations, making certain visibility over the data at rest and in motion, data loss prevention and others.
North America is likely to be the largest market in terms of revenue part, at the same time as emerging economies such as Asia Pacific (APAC) where countries include India, China, Australia among others .In Middle East and Africa in countries like Saudi Arabia, United Arab Emirates (UAE), and others are showing substantial growth and is expected to be a key market in near future.
Key participants in the industry include Amazon web service, CA technologies, Dell Software, IBM, Microsoft, Oracle, Intel, EMC, Okta, Courion, Covisint, Netiq, One Login, HP Hitachi ID systems and Siemens.