The Physical IAM Market size to grow by USD 950.19 million from 2022 to 2027 | The rapid growth of Internet of Things (IoT) networks to boost market growth- Technavio
The growth of the market will be driven by the Rapid growth of Internet of Things (IoT) networks, the need to comply with regulatory requirements, and the growing adoption of IDaaS solutions.
NEW YORK , Aug. 28, 2023 /PRNewswire/ -- The physical IAM market is forecast to increase by USD 950.19 million from 2022 to 2027, at a CAGR of 14.11%, according to the recent market study by Technavio. The growth of the market will be driven by the Rapid growth of Internet of Things (IoT) networks, the need to comply with regulatory requirements, and the growing adoption of IDaaS solutions. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Free Sample Report
Physical IAM Market- Company Scope
Technavio has extensively analyzed 15 major companies, including AlertEnterpise Inc., Alfred Net, Atos SE, Convergint Technologies LLC, CyberArk Software Ltd., Dell Technologies Inc., HID Global Corp., Identification Systems P Ltd., Identiv Inc., Intellisoft, International Business Machines Corp., Micro Focus International Plc, MTI Technology, Okta Inc., Oracle Corp., Ping Identity Holding Corp., SecureAuth Corp., Technology Nexus Secured Business Solutions AB, Thales Group, and WSO2 Inc.
Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market's competitive landscape and companies' product offerings.
- The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Physical IAM Market - Segmentation Assessment
The market is segmented by Component (Solutions and Services), End-user (Commercial, Government, and Defense), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
- The market share growth by the solutions segment will be significant during the forecast period. Deploying physical IAM solutions on-premises requires end-users to obtain software licenses and is more expensive than cloud-based IAMs due to in-house hardware and substantial investments in software licenses. Currently, large enterprises favor on-premises physical IAM due to its strong security features. In addition, customized solutions enable organizations to exercise tight control and improve data safety and security. Hence, these factors are expected to drive segment growth during the forecast period.
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Physical IAM Market - Market Dynamics
Key Driver
The rapid growth of Internet of Things (IoT) networks is a key factor driving market growth. The IoT includes objects such as vehicles and home appliances, equipped with software, sensors, and actuators to facilitate data exchange and connectivity. Physical IAM provides enhanced security for IoT devices with features such as adaptive authentication, end-to-end data encryption, overload detection, and auto-balancing. load. Additionally, IoT IAM consolidates customer profiles and interest data from various interactions, creating a unified profile. Hence, these factors are expected to drive market growth during the forecast period.
Major Trend - The need for MFA with physical IAM is a major trend in the market.
Significant Challenge - Poor handling of data is a significant challenge restricting market growth.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End User
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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