The Identity authentication access market is about to grow by 13.4% in revenues in 2021 reaching $28.5bn, consistent with Omdia’s latest Identity Authentication Access Market Tracker. By 2025 the IAA market is projected to extend to $49.5bn, representing a CAGR of 14.9%.
In 2020, authentication was the most important segment of the IAA representing 1/3 of the entire market share ($8.2bn), by 2025 authentication revenues are set to grow to $14.8bn with its market share dropping to 30% of the entire market.
However, which is currently the littlest segment in 2020 (6.5%) is projected to possess the very best growth over the subsequent four years growing to $4.5bn.
On-premises IAM/IDaaS, PAM, and IGA accounted for $7.7bn, $2.0bn, and $5.2bn according, however, Omdia expects that over the subsequent few years there’ll be a continued move faraway from on-premises products to cloud-based solutions like IDaaS.
The migration towards cloud-based solutions has been accelerated by the worldwide pandemic but will continue as whilst the pandemic resulted during a sharp increase in fraud attacks thanks to home working, a business will still check out alternative security solutions within the future.
The current IAA market is extremely fragmented with over 200 vendors already competing within the IAA space. Okta is currently estimated to be the market leader supported revenues with a market share of three .5% in 2020, which is a component right down to Okta’s dominance of the IAM/IDaaS market where it holds a 7.5% market share.
Microsoft’s market share has increased to three up from 2% YoY rising to the second largest market share, whilst Micro Focus’s market share decreased by 0.5% YoY dropping the business right down to fourth in terms of market share.
However, over the subsequent few years, Omdia forecasts that the market share may change as businesses still evolve and adapt their products to make sure that they’re meeting the wants of continuous authentication and authorization.
Don Tait, IAA cybersecurity lead, at Omdia, said, “Over the past 18 months the IAA market has continued to grow in double digits despite the worldwide pandemic and global downturn. this is often thanks to the evolving needs of enterprises and businesses who require significant security products as more and more employees are working offsite.
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