Importance of Identity & Access Management Increases Due to Security Breaches

The identity & access management industry has witnessed substantial growth, owing to the convergence and integration of legacy technology with mainstream technologies. Moreover, there is an increase in demand for identity & access management solutions, which is driving the Industry.

Major players include in Identity and Access Management market space are CA Technologies, Oracle, IBM, Microsoft, Intel, SailPoint, Amazon Web Services, Okta, Centrify etc. These players provide innovative solutions in the form of individual components as well as suites, which get delivered via on premise or via cloud.

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Growing emphasis on compliance management and increasing trend of mobility have driven the demand for identity & access management solutions in various sectors. Employees can use their devices from different locations these days. Moreover, the Bring Your Own Device (BYOD) approach is increasing the usage of mobile applications. Changing scenarios and distributed IT environments have made organizations susceptible to cyber threats, thereby fueling the demand for identity & access management solutions. This is expected to create market opportunities for identity & access management solution vendors during the forecast period.

Key players in the identity & access management market are IBM Corporation (U.S.), Oracle Corporation (U.S.), CA Technologies (U.S.), Microsoft Corporation (U.S.), Dell EMC (U.S.), NetIQ Corporation (U.S.), Okta, Inc. (U.S.), Hitachi ID Systems, Inc. (U.S.), and SailPoint Technologies (U.S.), among others. Companies in this market have adopted different strategies to expand their global reach and increase their market shares. Partnerships, acquisitions, and new product launches are some of the significant strategies adopted by the market players to grow in the identity & access management market. IBM Corporation (U.S.), Oracle Corporation (U.S.), CA Technologies (U.S.), Microsoft Corporation (U.S.), and Dell EMC (U.S.) have adopted these strategies to expand their product portfolio.

The IBM Corporation is one of the leading players in the identity & access management market. The company has adopted both, organic as well as inorganic strategies to enhance its presence in this market. Moreover, the company has acquired few renowned players such as Lighthouse Security Group LLC to combine its identity & access management offerings with the Lighthouse Security Group. Furthermore, the company has adopted organic strategies to stay competitive in the identity & access management market. In April 2015, the IBM Corporation introduced the QRadar Security Intelligence technology to the cloud. The QRadar Security Intelligence technology enables companies with the ability to prioritize real threats and free up sensitive resources to fight cyber-attacks.

The Oracle Corporation is another leading player in the identity & access management market. The company has been consistently focusing on organic growth strategies such as new product development and launches. For instance, in July 2015, Oracle announced the advancement of its Oracle Identity Management software suite that would simplify and streamline the identity & access management process by integrating Enterprise Mobility Management into the Oracle Identity Management stack. This has immensely driven the identity & access management market across the globe. In April 2016, the company launched the new Oracle Mobile Authenticator, a token-based authentication application that empowers enterprises to provide strong authentication, and safeguard unapproved access to companies and client information.