A recent report from MarketsandMarkets has the Identity and Access Management (IAM) space poised for major growth over the next 4 years (2014-2018). The report itself identifies and defines the IAM software space into sub-segment s across on-premise and cloud as well as highlights components such as provisioning, directory technologies, Single Sign On (SSO), advanced authentication, password management, audit, compliance, and governance.
The major theme of the reports is the overall proposed growth of the IAM market and the driving forces behind this ensuing growth. MarketsandMarkets proposes that the IAM marketing will see a growth of from $5.13 billion in 2013 to $10.39 billion in 2018. The report suggests that this represents a Compound Annual Growth Rate (CAGR) of 15.1% from 2013 to 2018. “In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while emerging economies such as Asia Pacific (APAC) and Middle East and Africa (MEA) are expected to experience increased market traction with high CAGRs, in the due course.”
Apparently Small to Medium sized Enterprises (SMEs) will be a large factor in the projected growth of the IAM market. They write that SMEs across the globe will start investing in IAM projects in the coming years. This adoption can be attributed to the increase in IAM solutions via the cloud. Ultimately these offerings will lower the overall implementation and services required, as well as cost, that have in the past been to heavy with traditional IAM approached.
MarketsandMarkets writes that, “the need to connect and manage complex structure of federated digital identities which includes integration, interoperability, and compatibility issues will always remain one among the key challenges for both enterprises as well as existing IAM vendors.” Click here to read more finding form the reports and to access the MarketsandMarkets results for IAM.