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Identity and Access Management Market to Grow by $15.15 Billion During 2020-2024

Strategic Insights

— 1 min read

The global identity and access management market is poised to grow at a CAGR of 14% during the forecast period of 2020-2024, driven by the upsurge of cloud IAM and increasing data thefts across the globe. The market is expected to reach a size of $15.15 billion by the end of 2024, driven by the need for robust security measures to protect sensitive information.

Key Takeaways:

  • The identity and access management market is expected to grow at a CAGR of 14% during the forecast period of 2020-2024.
  • The market size is expected to reach $15.15 billion by the end of 2024.
  • The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
  • Accenture Plc, Capgemini Services SAS, Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Tata Consultancy Services Ltd., and Wipro Ltd. are some of the major market participants.
  • The increase in data thefts across the globe has driven the growth of the market.
  • However, networking and connectivity issues with cloud-based IAM might hamper market growth.
  • The market is segmented by deployment, geography, and end-user.
  • Large enterprises, government organizations, and SMEs are the primary end-users of identity and access management solutions.
  • On-premises and cloud-based deployment models are the primary modes of deployment.
  • North America, Europe, APAC, MEA, and South America are the primary geographic regions for the market.

Statistics:

  • The identity and access management market is expected to grow at a CAGR of 14% during the forecast period of 2020-2024.
  • The market size is expected to reach $15.15 billion by the end of 2024.
  • The market is expected to grow by 17,000% during the forecast period, with a growth rate of 1.45% CAGR per year.
  • The market is expected to maintain a growth rate of 14% for the next 5 years, reaching a market value of $23.51 billion by 2029.

Sources:

  • Technavio Research press release, "Identity and Access Management Market: Technavio Announces Top Trends | Impact of COVID-19 on Global Identity and Access Management Market" (2020)
  • Technavio, "Identity and Access Management Market by Deployment (On-premises, Cloud-based), End-user (Large enterprises, Government organizations, SMEs), and Geography (North America, Europe, APAC, MEA, South America) - Forecast and Analysis 2020-2024" (2020)
  • Technavio, "Identity and Access Management Market Size, Share, and Forecast Analysis, 2019-2024" (2020)

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