Identity and Access Management

The identity and access management (IAM) market is going to cross $34.52 billion by 2028 . The demand for Identity and access management solutions are gaining traction due to the rising regulatory compliances and security concerns.

identity and access management (IAM) leverages identity analytics and intelligence to monitor unusual activities from user account. It enables the identification of policy violations, deletion of idle accounts and removal of inappropriate access privilege . These types of incidences are anticipated to fuel the growth of the market.

The growing cloud adoption is one of the major factors responsible for the growth of the market. Further, the integration of advanced technologies such as Blockchain and artificial intelligence into IAM solutions is expected to boost the growth of the market in the coming years.

The demand for identity and access management solutions is growing rapidly due to a number of factors, including:

· Rising regulatory compliance requirements: Governments around the world are increasingly passing laws and regulations that require businesses to implement strong IAM controls.

· Increased security concerns: The number and sophistication of cyberattacks are on the rise. IAM solutions can help businesses to protect their systems and data from these attacks.

· Growing cloud adoption: The cloud-based applications and services are often more complex and distributed than traditional on-premises applications, making it more difficult to manage access control. IAM solutions can help businesses to manage access to cloud-based resources securely.

Moving on, Small and medium sized organisations are adopting at faster speed to comply with regulatory requirements that are anticipated to fuel the growth of the market. Going forward, Enterprises are focusing on increasing funding to accelerate product demand and growth in the market.

Rising cybercrime and fraudulent activities owing to the rapid adoption of cloud and similar emerging technologies across organizations have pushed organizations to incorporate IAM systems.

Overall, the demand for IAM solutions is expected to continue to grow in the coming years. Businesses that want to protect their systems and data from cyberattacks and comply with regulatory requirements will need to implement strong IAM controls.

S Mohini Ratna, Editor, VARINDIA