As identity and access management continues to progress over the forecast period, enterprises are expected to look for larger and more innovative solutions, which are adaptable to trends such as mobile and cloud computing. IAM services and solutions are growing into a risk-based program, with their abilities focused on entitlement management and enforcement of logical access control. Enterprises have started attaining benefits from their prices, but face major challenges to manage time-incentive practices such as manual provisioning and approval. The market can be categorized by deployment into on-premise, hybrid and cloud IAM. On-premise identity and access management market accounted for a majority share in 2014 and is anticipated to lose substantial share over the forecast period. On-premise infrastructure uses conventional in-house data centers that entirely controls software updates and security patches. However, security breaches owing to unauthorized physical access cannot be spotted by this technology.
Alternatively, cloud hosting companies safeguard customers and alert them instantly which would positively favor demand for hybrid and cloud solutions. Applications sectors in the IAM market include oil & gas, telecom & IT, public sector, utilities, BFSI, energy healthcare, and manufacturing. BFSI sector companies have to adopt cyber security solutions to monitor, detect, report, and counter the cyber threats for keeping the privacy of information and to increase productivity. Several stringent government regulations and regulatory reforms are causing organizations and enterprises to address their internal control infrastructure.
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For instance, according to Health Insurance Portability and Accountability Act of 1996( HIPAA), it is mandatory for healthcare organizations to safeguard the portability of healthcare coverage and the confidentiality of patient records. It involves organizations to train staffs to efficiently follow secrecy measures, designate an individual in the organization in-charge of HIPAA compliance and implementation, and undertake significant measures for regulating the disclosure of patient information such as secure electronic access to patient records.
Geographically the global market for identity and access management is segmented into North America, Asia- Pacific, Middle East and Asia, Europe and Latin America. Europe and North America are expected to contribute substantially to the global market share owing to the favorable regulatory scenario. The U. S. government has issued over 400 regulatory policies associated to cyber security, which is expected to fuel the market for IAM across the region. Asia-Pacific identity and access management market are expected to grow at a higher rate owing to the large deployment of IAM services & solutions and an increasing number of cyber threats on cloud architecture.
The Middle East & Africa is also expected to gain traction with substantial growth over the forecast period. The key market players dominating the global market for identity and access management includes IBM, HP, EMC