Physical Identity & Access Management Market Size To Reach $1.1 Billion By 2025, Owing To Rising Need For Unified Risk Management & Corporate Asset Security | Million Insights
FELTON, Calif., Jan. 12, 2021 /PRNewswire/ -- The global physical identity and access management (PIAM) market size is projected to reach USD 1.1 billion by 2025 and registering a CAGR of 14.6% during the forecast period from 2019 to 2025, according to a new report by Million Insights. Increasing need for unified risk management and corporate asset security in large enterprises as well as SMEs is a major factor driving the market growth. Growing urbanization coupled with increasing complexity in operations, several organizations are facing challenges to manage and access companies' assets, which are present across numerous geographies. Additionally, the security and Information Technology (IT) departments among several companies are demanding on holistic management solution, which is projected to drive the demand for physical identity & access management software.
PIAM software comprises identification, authentication and access management of several entities such as contractors, service providers, employees, visitors and partners. This software helps to manage and track on-boarding/off-boarding, identity lifecycle, access provisioning and badging. This market is expected to witness substantial growth in fields with stringent security compliances such as logistics, utility companies, airports and also the government sector. Further, increasing demand for this solution in BFSI and IT sectors is expected to drive the PIAM market growth during the forecast period.
Please click here to get the sample pdf and find more details on "Physical Identity And Access Management Market" Report 2025.
North America and Europe are expected to gain considerable market share as these regions are early adopters of new technologies wherein Asia Pacific is expected to grow with the highest CAGR over the forecast period. Integration of Operational Technology (OT) & IT security strategies is projected to surge the market growth in this region.
Further key findings from the report suggest:
- The software segment is expected to grow with the fastest CAGR during the forecast period. This growth is attributed to growing adoption of PIAM among corporates for central control of identities of contractors, vendors and employees.
- Among application, the BFSI segment is projected to grow at the highest CAGR from 2019 to 2025.
- The key strategy implemented by key vendors is integration of real-time PIAM software with Physical Access Control Systems (PACS) and partnerships, collaborations with PACs providers.
- Asia Pacific is expected to exhibit with the highest CAGR of more than 19.0% during the forecast period due to rapid growth of public and constriction sectors and rapid automation in industrial sector.
Browse 120 page research report with TOC on "Global Physical Identity & Access Management (PIAM) Market" at: https://www.millioninsights.com/industry-reports/global-physical-identity-access-management-piam-market
Million Insights has segmented the global physical identity and access management market on the basis of offering, product, application and region:
- Physical Identity and Access Management Offering Outlook (Revenue, USD Million, 2014 - 2025)
- Software
- Services
- Physical Identity and Access Management Product Outlook (Revenue, USD Million, 2014 - 2025)
- Backend Database Solutions
- Credential Management
- Visitor Management
- Physical Identity and Access Management Application Outlook (Revenue, USD Million, 2014 - 2025)
- BFSI
- Defense& Security
- Airports
- IT & Telecom
- Government & Public Sector
- Industrial
- Others
- Physical Identity and Access Management Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Explore the latest market research reports by Million Insights:
- Candle Market - The global candle market size was worth USD 3.45 billion in the year 2018. Candles have an aesthetic appeal that creates its demand among females and thus drives the market. Independent brands, fashion houses, and beauty retailers are focusing on launching new products to attract a larger customer base simultaneously satisfying the existing ones.
- Men's Grooming Products Market - The global men's grooming products market size was estimated at USD 55.0 billion, in 2018. Grooming is done to maintain cleanliness and hygiene of the men's body. Men's grooming industry has witnessed significant changes in the recent past. Increasing beauty and health consciousness among men is the primary factor attributing to the growth of this market.
- Influencer Marketing Platform Market - The global influencer marketing platform market size was accounted for USD 4.6 billion, in 2018. It is projected to grow with a CAGR of 26% over the estimated duration. The market growth is attributed to increasing focus by agencies and brands to make deeper connections with the customers to increase the visibility of the brand.
- Blockchain Technology Market - The global blockchain technology market size was accounted for USD 1,590.9 million in 2018. It is estimated to grow at a CAGR of 69.4% over the forecasted period, 2019 to 2025. Blockchain technology is an upcoming technology anticipated to be widely adopted across industry verticals, especially in IT domain.
About Million Insights:
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter
Share this article