London, Nov. 30, 2022 (GLOBE NEWSWIRE) — An alarming rise in variety of cybersecurity threats are primarily driving the growth of identification and entry administration market worldwide. Rising ubiquity of earn a living from home/distant/hybrid work fashions have additional been influencing the efficiency of market not too long ago, suggests a not too long ago launched examine of Fairfield Market Analysis. These fashions nonetheless query the safety of each employers, and staff, marks the report. That is the place the crucial want for efficient, and environment friendly identification and entry administration arises, which in flip accelerates growth of world identification and entry administration market. BFSI sector would be the prime adopter of identification and entry administration options based on the report, adopted by healthcare trade. Towards the tip of forecast interval 2021 – 2026, world identification and entry administration market is predicted to achieve US$24.8 Bn.
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Key Analysis Insights
- The market recorded income of over US$10 Bn in 2019 and is all set for staggering 2.4x growth by the tip of 2026
- Cloud-based deployment stays most popular with over 75% income share
- Id lifecycle administration options stay most sought-after, accounting for greater than 19% market worth share
- North America retains lead with greater than 29% income share in world identification and entry administration market
Insights into Segmental Evaluation
Contributing the income of round US$7.5 Bn in 2019, cloud registered its lead in identification and entry administration market with a market share of greater than 3/4th of the general income. Then again, the report reveals that BFSI sector will stay the main vertical section, representing over 29% market worth share. IT, and ITeS comply with, recording market share of greater than 27%, and 15%, respectively. Market evaluation additionally reveals that the demand for identification lifecycle administration options would be the most, carefully adopted by the following key segments, i.e., entry administration and authorization, authentication, information listing, and password administration options.
Key Report Highlights
- Along with the rocketing variety of situations associated to cybersecurity breaches, the market will obtain a powerful impetus from rising emphasis on compliance administration
- Rising integration of next-generation applied sciences like AI, machine studying, Blockchain, and biometrics will closely contribute towards market progress. Introduction of cloud-based identification and entry administration options, and surging reputation of hybrid-cloud additional heighten market prospects
- The market will proceed to face a large cybersecurity expertise hole in long run
Insights into Regional Evaluation
North America has been witnessing exponential rise in cybersecurity threats and can stay on the forefront of demand technology in world identification and entry administration market. The market right here will proceed to profit from a longtime cybersecurity infrastructure, and robust lively presence of a number of the globally main distributors of the cybersecurity house. Asia Pacific is all set for a wonderful prospect on the again of deepening Web and smartphone penetration, and rising stringency of compliance regulation. The report anticipates quickest progress of identification and entry administration market in Asia Pacific, led by China, India, Japan, and Singapore. The SME world unfold throughout the area reportedly employs over 70% of the full regional inhabitants and thus it turns into crucial for companies to prioritize investments in dependable measures like identification and entry administration options and companies. Costly capital investments nonetheless stay the important thing issue difficult fast growth of the market in Asia Pacific.
Key Firms in World Id and Entry Administration Market
Microsoft Company, IBM Company, Oracle Company, Micro Focus (NetIQ Company), Centrify Company, Dell Emc, Okta, Inc., CA Applied sciences, Hitachi Id Techniques, Inc., Sailpoint Applied sciences, Inc., Archer Daniels Midland Firm
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REPORT SCOPE
| Report Attributes | Particulars | |
| Base 12 months | 2020 | |
| Forecast 12 months | 2021 – 2026 | |
| Market Measurement in 2019 | US$10.1 Bn | |
| Estimated Market Measurement in 2026 | US$24.8 Bn | |
| CAGR | 14.8% | |
| Key Gamers | Microsoft Company, IBM Company, Oracle Company, Micro Focus, Centrify Company, Dell Emc, Okta, Inc., CA Applied sciences, Hitachi Id Techniques, Inc., Sailpoint Applied sciences, Inc. | |
Market Segmentation
Deployment Protection
Parts Protection
Verticals Protection
- BFSI
- Journey and Hospitality
- Healthcare
- Retail and eCommerce
- IT and ITeS
- Training
- Others (Vitality and Utilities, Telecommunication, Different Citizen Companies)
Resolution Protection
- Information Listing
- Id Lifecycle Administration
- Provisioning
- De-provisioning
- Authentication
- Password Administration
- Entry Administration and Authorization
- Audit, Compliance, and Governance
Geographical Protection
- North America
- Europe
- Latin America
- Center East & Africa
- Asia Pacific
Main Firms
- Archer Daniels Midland Firm
- Microsoft Company,
- Sailpoint Applied sciences, Inc.,
- Oracle Company,
- DELL
- IBM
- HITACHI
- CA Applied sciences
- Okta
- Centrify Corp
- Micro Focus
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Business Tendencies
- Competitors Panorama
- Deployment-wise Evaluation
- Part-wise Evaluation
- Vertical-wise Evaluation
- Resolution-wise Evaluation
- Area-wise Evaluation
- Nation-wise Evaluation
- Key Tendencies Evaluation
- COVID-19 Influence Evaluation
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