The Global IAM Market Size is Projected to Grow 15.6%

The global IAM market size is projected to grow from USD 15.7 billion in 2023 to USD 32.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The IAM market is propelled by key factors that are shaping its growth trajectory.

These include the increasing occurrence of identity thefts, stolen identity information ,brand defamation cyberattacks, and identity fraud related threats, which necessitate robust IAM solutions for effective defense. Furthermore, the industry’s response to the scarcity of cybersecurity skills and the overwhelming volume of alerts has fueled

Moreover, the BFSI sector places great importance on the security of its customers’ sensitive data. IAM solutions provide comprehensive insights into customers, enabling BFSI organizations to deliver a unified experience and ensure the protection of sensitive information.

By implementing IAM solutions, the BFSI industry can enhance security measures and effectively manage regulatory compliance. Given these advantages, IAM solutions are increasingly being embraced by the BFSI vertical, solidifying its dominance as the largest market segment in the IAM lands

Breakdown of primaries
The study contains various industry experts’ insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

•     By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
•     By Designation: C-level – 40%, Managerial and other levels– 60%
•     By Region: North America – 35%, Europe – 30%, Asia Pacific – 20%, Middle East & Africa and Latin America – 15%cape.the adoption of IAM services, providing organizations with the expertise and support needed to mitigate risks.