Identity And Access Management Market is expected to witness a lucrative growth by 2024. The growing frequency of IAM related risks on account of the rising use of BYOD, IoT, and the social media platforms has been generating a substantial demand for IAM solutions globally. Companies harness the advantages of social media for promotional purposes and boosting brand awareness.

This can pose risks to corporate networks. As the employees become more aware about their responsibilities toward cybersecurity and companies shift to cloud-based security models, these risks can be mitigated efficiently.

Rising adoption of directory services in Asia

The APAC Identity And Access Management Market forecast has been profiting from the growing adoption of directory services in the region. The segment is slated to rise at a CAGR of 14% through the assessment timeline, as they boost the productivity of organizations.

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Directory services act as a single point enabling users to locate services, resources, and information distributed across the network. These services automatically implement security policies, reinforcing security across complex approval workflows at the same time preventing redundant user accounts.

German companies to focus on consumer demand

The Europe Identity And Access Management Market share is expected to augment significantly, as German companies have been focusing on consumer demand via investments in product innovations, collaborations, and mergers. During 2017, Germany accounted for over 30% of the regional IAM market share and has been growing at a high CAGR.

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The nation has been witnessing a remarkable uptick in the frequency of cyber-attacks in the recent times. Nearly two-thirds of the German manufacturers have been facing cyber-attacks leading to loss of critical data from phones. In September 2018, almost $50 billion was lost by German manufacturers owing to cyber-attacks. This has been eliciting high demand for IAM solutions in the region.

Additionally, the German industry players have been partnering with one another to cate to the need of the consumers. For instance, iC Consult Group announced its collaboration with the U.K. based identity platform builder Auth0 in January 2020 for focusing on consumer IAM such as social media logins including Device Flow and Sign in With Apple. 

Advanced authentication solutions in North America

The demand for advanced authentication solutions has been on the rise in North America identity and access management market. The segment represented a share of more than 24% during the past and is poised for further growth in the upcoming times. These solutions leverage technologies utilized for recognition of smart cards & identities in biometric systems, constituting multi-factor authentication.

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On account of the necessity to work from home during the pandemic, enterprises have been turning to mobility solutions for enabling employees to access critical information. This has rendered the present IT ecosystem more vulnerable to malware. As a result, more organizations have been investing in these solutions of late.

Rising demand for BYOD and IoT in American countries

The trending adoption of Internet of Things (IoT) and Bring Your Own Device (BYOD) has been accelerating the demand for IAM solutions in North America. Owing to the WFH trend, employees are being onboarded via the BYOD endpoint in the corporate network.

Recent surveys reveal that during the pandemic, a substantial percentage of workers have been accessing corporate data using tablets, laptops, and smartphones, which are less secure when compared to their corporate equivalents.  Insecure logins and firmware vulnerabilities can enable attackers gain a foothold in unprotected home network. Therefore, it is mandatory to address the issue by deploying latest IAM solutions.

Focus toward reinforced homeland security in the U.S.

By 2024, the U.S. is expected to represent a considerable portion of the total North America Identity and access management market share on account of the government focus toward strengthening homeland security. With this aim in view, the government has been partnering with several private sector enterprises for ensuring enhanced secured identity solutions.

It has been seeking to provide secure and safe e-authentication via identity proofing and technical standards and by ensuring that proper privacy protections are executed efficiently. The security of sensitive and confidential government data is of prime importance. This has been acting as a major driver for the industry.

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