March 26, 2020
As per the report titled ‘Europe Identity and Access Management Market Size By Deployment Model, By Solution, By Application, Industry Analysis Report, Countries Outlook - Industry Size, Share, Growth Trends & Forecast, 2018 – 2024’, available with Market Study Report LLC, Europe identity and access management market is projected to cross USD 4 billion by the year 2024.
Increasing employee and customer interaction through multiple channels is encouraging enterprises in Europe to adopt security solutions such as identity and access management (IAM) for ensuring simple and secure access of applications to employees, partners, and customers. Enhanced safety along with a centralized access control is a major factor fueling the product demand. The growing need to comply with the evolving data privacy regulations such as GDPR is further enhancing the growth of IAM market in Europe.
In terms of solutions, audit, compliance, and governance solutions segment is expected to witness a CAGR of 17% through 2024. Rising concern over data thefts of critical customer information, along with the growing adoption of IAM solutions across various industries such as IT & telecom, public utilities, BFSI, and healthcare are contributing to the segment growth.
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Based on the application scope, healthcare sector is projected to expand with 10% CAGR over the forecast timeline. IAM solutions health departments reduce risks, meet standards, and deliver improved patient care. These factors coupled with the growing concern regarding theft of patient records are fueling the demand for IAM solutions across the healthcare sector.
Prominent players of Europe identity and access management market are Siemens, Oracle Corporation, Microsoft Corporation, Computer Science Corporation, IBM Corporation, and SailPoint Technologies. These solution providers are focusing to collaborative efforts to provide new product offerings and increase their customer base.
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