-- Shift in IT practices and consumer demand to push the market to next stage of growth, finds Frost & Sullivan
MOUNTAIN VIEW, California, May 19, 2015 /PRNewswire/ -- The global identity and access management (IAM) market is a complex space with segments at different stages of growth. Nevertheless, the overall IAM market is at a pivotal developmental phase where vendors must adapt their strategies to changing consumer needs or exit the market. Solution providers must especially cater to business demand for IAM solutions that can simplify access for Web and cloud applications, as well as address issues stemming from the proliferation of myriad mobile computing devices.
New analysis from Frost & Sullivan, Identity & Access Management (IAM) Global Market Analysis (https://www.frost.com/nec7), finds that the market earned revenues of $3.9 billion in 2014 and estimates this to reach $5.6 billion by 2019.
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"IAM solutions are gaining traction globally as they enable businesses to manage and track user access to Web and enterprise applications using a number of different controls," said Frost & Sullivan Network Security Senior Industry Analyst Chris Rodriguez. "This capability is particularly valuable for large organizations that need to manage thousands of identities and access requirements across potentially hundreds of applications."
Since traditional IAM solutions such as directories, provisioning systems and single sign-on solutions have reached maturity, adoption of conventional solutions is expected to dwindle. Additionally, IAM has typically been reserved for enterprise customers with deep pockets and the many resources needed to deploy and maintain complex IAM systems.
However, changes in business practices and technologies will present new opportunities that will shape the market's competitive landscape. Vendors must determine the impact of new technologies and business practices, in order to develop solutions that can help enterprises navigate technology trends without increasing their exposure to security threats.
"The market will take on renewed vigor as businesses drop the 'wait-and-see' approach to manage identity, access and risk," noted Rodriguez. "IAM vendors that offer cost-effective, user-friendly solutions will lay the foundation for a holistic defense against cyber threats and lead the way towards the next stage of IAM market growth."
Identity and & Access Management (IAM) Global Market Analysis is part of the Network Security (http://www.networksecurity.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Security Information and Event Management (SIEM) and Log Management Global Market Analysis, Global Finger and Palm Vein Biometrics Market, Global Network Access Control (NAC) Market, and Global Web Application Firewall Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Identity and & Access Management (IAM) Global Market Analysis
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SOURCE Frost & Sullivan