Global Identity Management Software Market Size By Component (Audit, Compliance And Governance), By Deployment (On-Premise, Cloud), By End-Use (BFSI, IT And Telecom, Healthcare), By Geographic Scope And Forecast

Identity Management Software Market Size And Forecast

Identity Management Software Market size is valued at USD 11.26 Billion in 2021 and is projected to reach USD 35.33 Billion by 2030, growing at a CAGR of 12.1% from 2022 to 2030.

The Chief factor contributing to the growth of this market is the high crime rate and increasing terrorism activities globally. Furthermore, raising investment by individuals and government organizations in infrastructure is also a major factor driving the growth of this market. The Global Identity Management Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Identity Management Software Market Definition

Identity management software provides ease to the management of individual’s authentication, authorizations, and privileges to approach the system within the institute. This software is established with the intent of accelerating security as well as minimizing the cost, redundancy in tasks,s, and downtime. Identity Management Software, certify efficient management of identifying data regarding entities including individuals, computer-related hardware, and applications.

The terminologies, technologies, and services related to implementing identity management are OpenID, WS-Trust, SAML2.0, Workflows, Role-Based Access Control (RBAC) Single Sign-On, and Open Standard of Authorization (OAuth), Password Managers, and Digital Identities. Identity Management Software provides user identity, protection of identity, and technologies like digital certificates, network passwords, etc.

Global Identity Management Software Market Overview

The major factor driving the growth of the Identity Management Software Market is the high crime rate and increasing terrorism activities globally, furthermore increasing investment by individual and government organizations in infrastructure is also contributing to the growth of this market. Moreover, the government regulations and measures to improve the security levels worldwide are driving the growth of the market across the globe.

Additionally, the increasing adoption of biometrics, smart cards, and a centralized database for personal identification is fuelling the growth of this market. Data security and the approach of information to the right candidate are also the factors contributing to the growth of this market. The rising utility of the market in both personal and professional is propelling the growth of this market. However, the rising cyber threat is one of the major factors restricting the growth of this market along with the high installation cost involved is also hampering the growth of the Identity Management Software Market.

Global Identity Management Software Market Segmentation Analysis

The Global Identity Management Software Market is Segmented on the basis of Component, Deployment, End-Use, and Geography.

Identity Management Software Market, By Component

• Audit• Compliance & Governance• Directory Service• Multifactor Authentication• Provisioning• Password Management• Single Sign-On

Based on Component, the market is segmented into Audit, Compliance & Governance, Directory Service, Multifactor Authentication, Provisioning, Password Management, and Single Sign-On. The Provisioning segment is estimated to dominate the market during the forecasted period due to increasing users accessing systems and applications, furthermore, it is critical for an enterprise to have a satisfactory process in IT infrastructure for Management Software Market.

Identity Management Software Market, By Deployment

• On-premise• Cloud• Hybrid

Based on Deployment, the market is segmented into On-premise, Cloud, and Hybrid. The On-Premises segment is expected to hold the largest share in the market because government depends on obtaining data related to national security and citizen’s personal data, enterprise also cares about protection regarding the organizational data, and due to this On-premises is preferred over Cloud-Based infrastructure and hence driving the growth of this market.

Identity Management Software Market, By End-Use

• BFSI• IT& Telecom• Healthcare• Education• Public Sector & Utilities• Manufacturing• Retail• Others

Based on End-Use, the market is segmented into BFSI, IT& Telecom, Healthcare, Education, Public Sector & Utilities, Manufacturing, Retail, and Others. The BFSI segment is expected to show the highest growth during the forecasted period because this sector contains important customer data that needs a high level of security. To reduce IT management costs, ensure compliance, and also to ensure productivity organizations are adopting IAM solutions.

Identity Management Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Based on regional analysis, the Global Identity Management Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America dominates the market due to the high deployment of IAM solutions in this region and ongoing projects, which has a positive impact on the Identity Management Software Market in this region.

Key Players

The “Global Identity Management Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are IBM Corporation, Okta, Inc., Nervepoint Technologies Limited, HID Global Corporation, ViewDS Identity Solutions, Pirean Limited, Geneous Software AG, Avatier Corporation, Institut für System-Management GmbH (iSM), Centrify Corporation, Generous Software AG. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• May 2022 – IBM announced that they are expanding the partnership with Amazon Web Services Inc., this partnership will make it easier for customers to run the software on the cloud giant’s platform. IBM has a wide portfolio of software products and more than 30 are deployed through the AWS marketplace.

• April 2021 – Aviatier Corporation announced the release of aviator identity Anywhere 2021 Spring edition, the upgraded version of Avatier’s (IAM) solution designed specifically to modernize the growing digital workforce.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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