(EMAILWIRE.COM, February 23, 2025 ) The Global Identity and Access Management Market was worth US$ 22.09 billion in 2023 and is estimated to reach US$ 40.05 million by 2031, growing at a CAGR of 8.31% during the forecast period (2024-2031).

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Market Dynamics

The rise in security breaches and identity fraud is driving the adoption of Identity and Access Management (IAM) solutions.

With increasing digitization, personal data is stored across numerous servers, heightening the risk of identity theft. According to the Federal Trade Commission (FTC), identity fraud incidents surged by 45%, causing significant financial losses, with North America alone experiencing a $56 billion loss. Javelin Strategy reports that 40% of account takeovers occur within 24 hours of a breach. The growing use of machine learning (ML) in cyberattacks enables the rapid creation of malware, leading to reputational damage and financial losses for businesses. Consequently, organizations are prioritizing IAM solutions to mitigate security risks and cyber threats.

Market Segment

By Component: Solutions, Services
By Solutions: Data Directory, Verification, Others
By End-User: BFSI, Healthcare, Retail & E-Commerce, Education, IT & IT Services, Government, Others
By Organization Size: Small & Medium Enterprises, Large Enterprises

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Market Geographical Share:

The growing threat of identity and access breaches is driving increased security investments across Asia-Pacific.

Countries like India, Japan, China, and Australia, with a high concentration of SMEs, face challenges in adopting large-scale IAM solutions due to cost constraints. However, rising internet usage, regulatory compliance, and smartphone penetration are accelerating IAM adoption. Governments in the region are implementing electronic identity verification programs to enhance security and combat identity theft. The COVID-19 pandemic further fueled a surge in identity fraud, prompting nations like India, Japan, and Australia to introduce new or updated identity management regulations to counter evolving cyber threats.

Market Key Players:

• IBM Corporation
• Sailpoint Technologies, Inc.
• Microsoft Corporation
• Hitachi Id Systems, Inc.
• CA Technologies
• Micro Focus (NetIQ Corporation)
• Centrify Corporation Oracle Corporation
• Okta Inc.
• Arctic Wolf

Key Development

In March 2024, Okta Ventures extended its Series A investment with a strategic stake in Accredify, a Singapore-based provider of verifiable digital credentials. This marks Okta Ventures' first investment in a Singaporean firm, following Accredify’s strong revenue growth and key integrations.

In September 2023, Oracle introduced major enhancements to Oracle Access Governance at Oracle CloudWorld, helping IT teams manage user access to critical digital resources such as applications, databases, and cloud services.

Also in September 2023, Ping Identity partnered with iProov to integrate advanced biometric authentication into PingOne DaVinci, a no-code identity orchestration tool, enhancing digital identity verification.

In July 2023, Microsoft rebranded Azure Active Directory to Microsoft Entra ID, streamlining its identity and access management (IAM) offerings under the Entra brand while maintaining existing functionalities.

Contact Information:
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Sai Kiran
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