By Lloyd McCoy
Manager, Market Intelligence
Arrow ECS/immixGroup, Inc.
Identity access management is about enabling the right individuals to access the right resources at the right times for the right reasons. Most organizations today recognize the importance of identity access management and the impact it can have on its business operations. Companies of all sizes strive to provide employee access to do their jobs but still maintain the privacy and accuracy required by law.
A recent IDC study forecast the worldwide identity and access market to increase from $5.7 billion in 2016 to $8.2 billion in 2021. Business to consumer is the fastest-growing IAM market, growing 17.3% over the next five years compared with the overall IAM market at 7.5%. Other markets with strong growth include privilege access management, advanced authentication, and identity management/single sign-on.
“The identity and access management market will continue to be a leader in the security products space, with a strong growth rate of 7.5% over the next five years,” says Tom Austin, research vice president, Security Products at IDC. “The need for stronger, modern authentication, privileged access management, and new business enablement will further propel key IAM players into double digit growth.”
As you might imagine, security breaches are a main market driver. Lost, stolen, or misused credentials account for more than 80% of hack-related security breaches. Another market driver is the European Union’s General Data Protection Regulation 2016/679. This regulation is effective May 25, 2018 and provides data protection for all individuals within the European as well as protecting the export of personal data outside the EU. It will drive up demand for security products.
The lack of a modern IAM reference architecture and resources are the main inhibitors of IAM market growth. IAM has typically been managed informally in many organizations without any over arching reference architecture. Finding the talent to put together and implement solutions is also a restraint.
How Arrow Can Help
As an Arrow solutions provider, you can take advantage of this market opportunity with our Empower Secure Enterprise solution. This service offers proven leading technologies to help protect your customers’ businesses. In addition, Arrow’s Solution Practice Leaders are well versed in data center security market opportunities and supplier solutions; and they can provide the business planning expertise you need to leverage this opportunity and build your security practice.
If you would like additional information about how Arrow can help you with IAM, please contact your Arrow representative.
Editor’s Note: This article was originally published in March 2017 and has been updated for accuracy and comprehensiveness.