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Nowadays, handling user identities while accessing identity & access management services via cloud or on-premises is one of the critical issues faced by several organizations. Lack of knowledge about identity and access management What are the restraints of Identity and Access Management market ? This trend, in turn, will drive organizations across multiple verticals to adopt identity & access management solutions.

Regulatory Acts such as Gramm-Leach-Bliley Act (GLBA), HIPAA, and Personal Information Protection and Electronics Document Act (PIPEDA), and standards such as PCI-DSS and SOX necessitate businesses to meet the terms of these standards. In addition, severity of threats and huge financial losses have led governments and regulatory bodies such as the Federal Financial Institutions Examination Council (FFIEC) to introduce an assortment of mandatory guidelines and protocols for security and privacy of the business data. Rules and regulations such as Payment Card Industry Data Security Standard (PCI-DSS), Sarbanes-Oxley (SOX), Health Insurance Portability and Accountability Act (HIPAA), and others are expected to increase in the coming years, due to the increasing authenticity requirements and emerging security issues. A report by the Security Industry Association estimates that large organizations spend around 13.1% of their net revenue on compliance. Rise in awareness about compliance managementĬompliance management is expected to continue to be a major driver in the adoption of identity & access management solutions due to huge costs associated with non-compliance with regulatory mandates.

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What are the drivers of Identity and Access Management market ?

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