Global Physical Identity And Access Management Market Size By Components, By Deployment Models, By Organization Size, By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Physical Identity And Access Management Market Size By Components, By Deployment Models, By Organization Size, By Geographic Scope And Forecast
Physical Identity And Access Management Market Size And Forecast
Physical Identity And Access Management Market size was valued at USD 1.16 Billion in 2023 and is projected to reach USD 3.37 Billion by 2031, growing at a CAGR of 14.20% during the forecast period 2024-2031.
The Physical Identity and Access Management (PIAM) market encompasses solutions and technologies designed to manage and secure physical access to facilities, assets, and resources within an organization. These solutions typically involve the integration of various hardware and software components to authenticate, authorize, and monitor individuals’ access to physical spaces, such as buildings, rooms, and sensitive areas.
Global Physical Identity And Access Management Market Drivers
The market drivers for the Physical Identity And Access Management Market can be influenced by various factors. These may include
- Security Concerns Are Growing The need for PIAM solutions is being driven by growing security concerns in several industries, including banking, government, healthcare, and business. Organizations are investing in strong identity and access management systems to safeguard their physical assets and sensitive data in light of the growing risks of illegal access and security breaches.
- Regulatory Compliance Requirements Governments and regulatory organizations enforce strict regulations and compliance standards, which call for the deployment of efficient access control mechanisms. Organizations must use PIAM solutions to assure compliance with rules about access control and identity management in sectors like healthcare (HIPAA), finance (PCI DSS), and government (FISMA).
- Technological Advancements Innovation in the PIAM market is being driven by the constant progress in technology, especially in fields like biometrics, cloud computing, IoT (Internet of Things), and AI (Artificial Intelligence). By incorporating these technologies into access control systems, physical identity and access privileges may be managed more easily, security is increased, and user experience is improved.
- Growing Adoption of Mobile Access Solutions The need for mobile-based access solutions has increased as a result of the growing mobile workforce trend and BYOD (Bring Your Own Device) regulations. Organizations looking to give safe and quick access to their facilities and resources are increasingly using PIAM systems with mobile access features like virtual credentials and mobile authentication.
- The necessity of centralized identity management systems is becoming more and more apparent to organizations as a means of streamlining access control procedures, increasing operational effectiveness, and lowering security concerns. Organizations may enforce uniform security standards and more efficiently monitor access activities with the help of PIAM systems, which offer centralized platforms for managing physical identities, access privileges, and authentication methods across various locations.
- Growing Uptake of Solutions Based in the Cloud The advantages of cloud-based PIAM systems, like cost-effectiveness, scalability, and flexibility, are driving up adoption. Organizations may access and administer their identity and access control systems remotely with cloud-based PIAM platforms, which lowers infrastructure costs and complexity and makes upgrades, maintenance, and deployment simpler.
- Demand for Integrated Security Solutions To offer complete protection against a variety of threats, there is an increasing need for integrated security solutions that integrate IT and physical security. Organizations looking for comprehensive security solutions are increasingly favoring PIAM solutions that interface easily with other security systems, such as video surveillance, intrusion detection, and identity verification technologies.
Global Physical Identity And Access Management Market Restraints
Several factors can act as restraints or challenges for the Physical Identity And Access Management Market. These may include
- High initial investment costs Hardware, software, and implementation services are frequently needed for the successful deployment of PIAM solutions. The adoption of PIAM systems by enterprises, particularly smaller ones with tighter budgets, may be hampered by this high upfront cost.
- Complexity of Integration It can be difficult and time-consuming to integrate PIAM solutions with the infrastructure and security systems that are already in place. Adoption barriers can include compatibility problems, interoperability difficulties, and the demand for customization to meet particular organizational requirements. These issues are especially relevant for enterprises with heterogeneous IT infrastructures.
- Organizations may be concerned about the security and privacy of sensitive personal information that is gathered and handled by PIAM systems. Organizations must install strong data protection measures and guarantee compliance with legal standards in order to comply with data protection legislation like the GDPR (General Data Protection Regulation), which complicates PIAM deployments.
- Organizational Culture and Resistance to Change The adoption of PIAM solutions may be hampered by deeply ingrained organizational cultures and resistance to change inside organizations. Employee resistance can impede the successful adoption and use of PIAM systems, especially if they believe the systems are intrusive or excessively restrictive.
- Lack of Knowledge and Understanding Some businesses might not be aware of the advantages of PIAM solutions or may not be fully cognizant of all of its features and functionalities. Organizations may be discouraged from investing in PIAM solutions if they lack sufficient understanding of the significance of access control and identity management in reducing security risks and meeting regulatory requirements.
- Challenges with Maintenance and Upkeep Organizations, particularly those with limited IT resources and knowledge, may face difficulties with the ongoing maintenance, upgrades, and support required for PIAM systems. Some organizations may find it burdensome to allocate resources and make continuing investments necessary to ensure the continuous operation and efficacy of PIAM solutions.
- Possibility of Problems with User Experience Badly thought out or executed PIAM solutions may lead to unpleasant user experiences, such as delays or inconveniences when gaining access to facilities or resources. Unsatisfactory user experiences can undermine the perceived value of PIAM expenditures by causing user discontent, adoption resistance, and diminished productivity.
Global Physical Identity And Access Management Market Segmentation Analysis
The Global Physical Identity And Access Management Market is segmented on the basis of Components, Deployment Models, Organization Size, and Geography.
Physical Identity And Access Management Market, By Components
- SoftwareThis segment includes PIAM software solutions that facilitate identity management, access control, and security policy enforcement.
- HardwareThis segment comprises physical hardware components such as access control devices, biometric readers, smart cards, and sensors used in PIAM systems.
- ServicesThis segment encompasses professional services such as consulting, implementation, integration, training, and support offered by vendors and service providers to assist organizations in deploying and managing PIAM solutions effectively.
Physical Identity And Access Management Market, By Deployment Models
- On-PremisesPIAM solutions deployed on-premises involve the installation and management of software and hardware infrastructure within the organization’s premises, providing greater control and customization but requiring higher upfront investment and maintenance.
- Cloud-basedCloud-based PIAM solutions are hosted and managed by third-party service providers, offering scalability, flexibility, and reduced infrastructure overhead costs. Organizations can access and manage their PIAM systems remotely via the internet, facilitating easier deployment and updates.
Physical Identity And Access Management Market, By Organization Size
- Large EnterprisesLarge enterprises typically have complex security requirements and extensive physical infrastructure, making them prime candidates for comprehensive PIAM solutions.
- Small and Medium-sized Enterprises (SMEs)SMEs may have more limited resources and scalability requirements, leading them to seek PIAM solutions tailored to their specific needs and budget constraints.
Physical Identity And Access Management Market, By Geography
- North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
- EuropeAnalysis of the Physical Identity And Access Management Market in European countries.
- Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
- Middle East and AfricaExamining market dynamics in the Middle East and African regions.
- Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Physical Identity And Access Management Market are
- HID Global
- Alert Enterprise
- IDCUBE
- Micro Focus
- Okta
- Access Security Corporation
- Gemalto
- IBM
- Oracle
- AWS
- Avatier
- Wallix Group
- Atos
- Identiv
- Nexus Group
- Alfrednet
- Wipro
- One Identity
- Sequr
- E&M Technologies
- WSO2
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | HID Global, Alert Enterprise, IDCUBE, Micro Focus, Okta, Access Security Corporation, Gemalto, IBM, Oracle, AWS, Avatier, Wallix Group |
| Segments Covered | By Components, By Deployment Models, By Organization Size, and By Geography. |
| Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Analyst’s Take
The Physical Identity and Access Management (PIAM) market is poised for significant growth driven by the rising need for enhanced security measures across industries. With increasing concerns regarding unauthorized access, theft, and security breaches, organizations are prioritizing the implementation of robust PIAM solutions to safeguard their premises and assets. Furthermore, the adoption of advanced technologies such as biometrics, IoT, and cloud-based solutions is expected to fuel market expansion. The market is also witnessing a surge in demand due to regulatory compliance requirements and the growing trend of remote access management. However, challenges such as interoperability issues, integration complexities, and concerns over data privacy may hinder market growth to some extent. Overall, as organizations continue to invest in bolstering their physical security infrastructure, the PIAM market is forecasted to experience steady growth in the coming years.
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
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
Customization of the Report
• In case of any  please connect with our sales team, who will ensure that your requirements are met.
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy