World News: 12:23 GMT Friday 12th July 2019. [Fortune Business Insights via Globe Newswire via SPi World News]
Pune, July 12, 2019 (GLOBE NEWSWIRE) -- The rising demand for advanced security solutions in organizations is boosting the global identity and access management market, says Fortune Business Insights in their new report. The report is titled, “Identity and access management: Global Market Analysis, Insights, and Forecast, 2019 – 2026”.
According to the report, the is anticipated to witness an exponential CAGR of 13.17 % and reach a value worth US$ 24,757.8 Mn by 2026 from US$ 9,526.0 Mn in 2018. An important factor boosting this market is the increasing number of cyber-crimes and the need to protect confidential data with identity and access management solutions.
The rising number of web-based applications is anticipated to drive the global market for identity and access management market in the coming years The introduction and implementation of risk management solutions namely, audit management, policy-based solutions, risk management solutions, and others are also driving the market and is expected to continue doing so in the near future as well.
The rising demand for advanced security against data breaches will help the market grow in the near future. However, the market may face rough waters on account of the lack of information about consumer data security and its uses, especially in the underdeveloped and developing economies. Additionally, the lack of skilled professionals may hinder the growth of the market in the forecast period.
Fortune Business Insights foresees the global identity and access management market to be dominated by North America due to the presence of a several leading market players in the region. The rising demand from emerging nations such as India and China will boost the Asia Pacific market.
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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Globe Newswire: 12:23 GMT Friday 12th July 2019
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