Identity and Access Management (IAM) is an essential aspect of modern-day cybersecurity. IAM solutions help organizations manage user identities, ensure secure access to sensitive data, and protect against security breaches. In recent years, the IAM market has experienced significant growth and is expected to continue to do so in the coming years. In this blog post, we will discuss the current size of the IAM market, its trends, and why there is an increasing demand for IAM solutions and professionals.
IAM Market Size
According to MarketsandMarkets, the global IAM market was valued at USD 11.5 billion in 2020 and is expected to reach USD 24.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The market’s growth is attributed to the increasing number of cyber-attacks and the growing need for enhanced IAM solutions to protect organizations’ data.
Trends in the IAM Market
One of the significant trends in the IAM market is the adoption of cloud-based IAM solutions. As more organizations migrate their data and applications to the cloud, there is a growing need for IAM solutions that can support hybrid and multi-cloud environments. Cloud-based IAM solutions offer greater scalability, flexibility, and cost-effectiveness, making them an attractive option for organizations of all sizes.
Another trend in the IAM market is the growing demand for Artificial Intelligence (AI) and Machine Learning (ML) capabilities. IAM solutions that leverage AI and ML can help organizations detect and respond to security threats in real-time, automate routine tasks, and enhance the overall security posture. With the increasing sophistication of cyber threats, AI and ML are becoming essential components of IAM solutions.
IAM Solutions and Demand for Professionals
IAM solutions are used by a wide range of organizations, from small businesses to large enterprises, across various industries such as healthcare, finance, retail, and government. Any organization that manages sensitive data or applications requires IAM solutions to protect against security breaches and ensure regulatory compliance.
The increasing demand for IAM solutions has also led to a growing demand for professionals with expertise in IAM. According to a report by Gartner, there will be a shortage of IAM professionals through 2023, with 40% of organizations reporting that they have open IAM positions that they cannot fill. As the IAM market continues to grow, the demand for IAM professionals is only going to increase.
Conclusion
IAM solutions are essential for any organization that manages sensitive data or applications. The IAM market is expected to continue to grow, with cloud-based solutions and AI/ML capabilities being significant drivers. As the demand for IAM solutions grows, so does the demand for professionals with expertise in IAM. Organizations need to stay up-to-date with the latest IAM trends and ensure they have the right talent in place to manage their IAM solutions and protect their data.
