Identity management, a rising market
According to a recent report by Brandessence Market Research and Consulting, the demand for Identity Management (Identity and access management, IAM in the Anglo-Saxon world) reached 10.12 billion dollars in 2018 and is expected to reach 23.3 billion by by 2025, so it is growing at an astonishing rate of 12.67%.
No surprise in view of the digitization of society and the rise of telecommuting.
What does it consist of?
Identity Management is a structure of business processes, rules, and technologies. Its objective is to help with the management of electronic or digital identities. With an IAM process, IT managers can control user access to key information in their organizations. Additionally, these products provide role-based access, allowing cybersecurity managers to regulate access to network files based on each user’s role in the business. The main objective, therefore, is to have a digital identity for each user. Once that identity has been established, it must be maintained, modified and controlled in each operation.
Principal actors
Some of the major Identity Management players are Onegini, TransUnion, Ping Identity Corporation, Gigya Inc., Centrify Corporation, Okta Inc., Experian PLC, Janrain Inc., Mitek Systems Inc., Traxion Inc., LexisNexis Risk Solutions Inc. ., MorphoTrust USA, GB Group Plc, ID Analytics LLP, Aware Inc., Equifax Inc., among others.
Segmentation
Identity Management consists of the following basic segments:
- -By solution: Advanced Authentication, Identity Proofing Services
- -By service: Professional services, Managed services.
- -By deployment: in the cloud, installed software.
- -By vertical industry: banking, health care, IT and telecommunications, retail, energy, public sector…
Analysis by region or country:
North America dominates Identity Management in terms of market share. It makes sense since it is also the region most affected by cyberattacks in the world. It is also considered the most advanced in terms of the adoption of cyber technology and infrastructure. In addition, the presence of leading players and the growing demand for IAM in various industries, such as energy, education or telecommunications in this region, also favor the growth of the market. Europe is expected to achieve the second position in the market given the increase in demand for Identity Management by small and medium-sized companies in countries such as Germany, France and the United Kingdom.