How many times have you heard the old (and fairly pessimistic saying), “You can’t trust anyone these days”? The truth is, in today’s technology heavy world, digital threats are a very real problem and the stakes for defending against such threats are higher than ever. An entire enterprise could easily collapse just because the wrong person gets access to what should be secure data. This is where IAM Software Solutions come into the picture.
Identity and access management (IAM) software solutions have arisen as a means of addressing this issue by providing highly secure, identity-based access to systems, applications, and information both on premise and in the cloud from virtually any location. In short, IAM software solutions provide users with the right access at the right time, and so far it’s working.
Although the Global IAM Market is in a relatively nascent stage, it’s already valued at US$ 7.6 billion with an anticipated CAGR of 13.4 percent—thanks in large part to a few key trends.
1. Increasing Use of Identity as a Service
With cloud computing quickly becoming the industry norm, many vendors now offer IDaaS—a security verification infrastructure that is developed, hosted, and controlled by a third-party service provider. This allows the employees to access cloud-based applications by a single sign-on process. Through this, companies can host applications on the cloud and provide access to specific users through a secure portal. Currently, the adoption rate of IDaaS is less than expected due to the high cost involved, but as this technology becomes the workplace standard we have no doubt that its price will decrease, spiking demand and propelling the IAM market forward.
2. Adoption of Social IDs
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Ravi Srinivasan, Director, Identity and Access Management, at IBM remarks “Adoption of social IDs for businesses could have a major impact in the coming years, especially to the security posture of the companies. Organizations will need capabilities to improve assurance of identities and transactions as they adopt social/digital IDS that they don’t manage directly. The future identity and access management programs will need to become more security focused and be able to support dynamic, context-based access control. This is a major shift from today’s approach of compliance focused, static, trust-based model.” |
3. Increasing Usage of Mobile PCs
In recent years, the usage tablet PCs and smartphones is increasing rapidly in the business world. With these devices, employees can access confidential information such as corporate e-mails and applications as well as business-critical information. Resulting, companies need a security solution to restrict their employees from misuse of such confidential data through fraudulent activities. Moreover, enterprises cannot be sure whether their employees’ portable devices are secure, leaving them highly vulnerable to hackers. The answer to these problems? IAM software companies
And to think, these trends represent just the tip of the iceberg when it comes to the IAM Market’s potential for growth. These days business enterprises, governments, schools, and even individual users will do almost anything to keep their data secure, and any technology that successfully helps users to do just that is bound for success. With this in mind, we are more than confident in predicting that the Global Identity and Access Management Market is going to be one to watch in the next few years!
For more information, view our 2012-2016 report on the Global Identity and Access Management Market.
