LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global identity and access management market to grow at a CAGR of over 13% during the period 2018-2022, according to their latest market research report.
The emergence of BYOD is one of the major trends being witnessed in the global identity and access management market. Organizations are increasingly adopting smartphones and tablets to enable employees to work remotely. A large number of employees now stay connected with the corporate network with constant support from enterprise IT departments. The adoption of the BYOD concept by firms has allowed employees to access organizational data and resources without being tied to a single location. Mobile devices are now becoming primary devices among employees in an organization. SMEs are increasingly shifting to BYOD for professional tasks, and this move has helped them in improving productivity and efficiency significantly.
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In this report, Technavio analysts highlight the increase in data theft across the globe as a key factor contributing to the growth of the global identity and access management (IAM) market:
Global identity and access management market: Increase in data theft across the globe
The cyber thefts by hackers and cybercriminals are growing at an alarming rate. Globally, the number of data breaches and files stolen by the hackers is rising. For example, the data records that were compromised globally in 2016 increased by more than 80% than that of 2015. Identity theft was the major type of data breach in 2016, which was around 55% of all data breaches.
According to a senior analyst at Technavio for enterprise application, “IAM supports enterprises in verifying the users as well as managing their access to enterprise resources. IAM helps enterprises in enabling applications to be accessed securely by providing the necessary user information for decision-making purposes.”
Global identity and access management market: Americas dominated the market in 2017
This market research report segments the global identity and access management market into the following end-users (large enterprises, SMEs, and government organizations) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The adoption of IAM by large enterprises is expected to increase during the forecast period owing to its benefits such as performance, affordability, security, enterprise-class scalability, and easy management of shared sensitive information, including documents, passwords, and digital identities.
The Americas dominated the global identity and access management market in 2017, accounting for a market share of around 41%. This region is expected to witness a decline in its market share by nearly 4% during the forecast period.
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