Published Date: 2018-12-18
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According to the Graphical Research new growth forecast report titled “Asia Pacific Identity and Access Management (IAM) Market Size By Solution (Provisioning, Password Management, Directory Services, Advanced Authentication, Single Sign-on, Audit, Compliance and Governance), By Deployment Model (On-premise, Cloud), By Application (BFSI, IT & Telecom, Healthcare, Education, Public Sector and Utilities, Manufacturing, Retail)”, Estimated to Exceed USD 3 Billion By 2024
The rising number of data breaches witnessed by organizations is a major factor responsible for the rapid adoption of IAM solutions. Countries including India and China are the key centers of data breaches with around 39 million data records being stolen in India since 2013 and 35 million in China. Hence, enterprises residing in this region are more focused on improving their digital relationship by connecting trusted employees and users to trusted applications, thereby preventing fraudulent access.
The single sign-on solution is expected to grow at a CAGR of over 15% in the Asia Pacific IAM market. The combination of single sign-on with IAM assists in improving organizations’ productivity and augmenting user experience by enabling the users to access their applications from a single location coupled with a single set of credentials.
The public sector and utilities application dominate the APAC IAM market with a market revenue projected to cross USD 1 billion by 2024. The water and energy power utilities are witnessing persistent cyber threats, such as DDOS and ransomware attacks, leading to large damages due to the disruption of industrial power provision, public to business disruptions, and revenue & information loss or damage to assets. Hence, IAM solutions are largely being adopted by the public sector domain to reduce cyber threats and serve a satisfied customer base.
The Asia Pacific IAM market includes multinational companies as well as pure IAM providers, offering niche products and services. The leading players functioning in this market include CA Technologies, Oracle Corporation, Microsoft Corporation, Okta, and IBM Corporation.
As the Asia Pacific IAM market portrays tremendous growth opportunities, various domestic and multinational companies are expanding their business offerings in this region. Some of the major companies include Oracle, IBM Corporation, Microsoft Corporation, Infosys, HCL Technologies, and SailPoint Technologies.
Segments we Cover:
The above information has been provided for the following regions and countries:
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