Global Physical Identity and Access Management Market – Opportunities and Forecast, 2020-2027
Physical Identity and
Access Management (PIAM) is a procedure for handling access to enterprise
resources, and introductory component security areas or information security
programs that are intractable by users. PIAM system manages authentication and
entitlement of users to access a resource. Its adoption is increasing swiftly
due to compliance mandate, technology, and product development, a greater
desire to manage alternative user populations including on-premises contractors
and visitors, and due to increasing focus on secure and timely access.
The key factors propelling
the growth of the Global
Physical Identity and Access Management market include increasing need for
future-proofing security operation and stringent security compliances and
government regulations across the globe. Government initiatives for
standardization of security protocols are shifting from pubic to private
sectors, due to these multiple industries such as civilian infrastructure and
pharmaceuticals are expected to come under government supervision. Moreover,
multiple regulatory compliances such as Health Insurance Portability and
Accountability Act (HIPAA), PCI DSS Credit Card Security, and Family
Educational Rights and Privacy Act (FERPA) are focusing on improving security
for multiple industries such as BFSI, education, and energy & utility.
These government regulations mandate companies to safeguard their data from
external and internal threats, thereby empowering the growth of global Physical
Identity and Access Management market. However, the lack of skilled security
analysts and the increasing incidence of security breaches due to internal
vulnerabilities is likely to hamper the growth of the market.
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Based on region, North
America is anticipated to lead the market during the forecast period. This is
attributed to the presence of key market players such as IBM Corporation, AWS,
and HID Global, which are delivering advanced solutions to end-users across the
region. Moreover, increasing number of data breach issues in the U.S. is
propelling industries to adopt physical identity and access management
solutions, leading to the growth of
Physical Identity and Access Management market in the region.On contrary,
Asia-Pacific is projected to grow at a higher CAGR during the forecast period.
This is attributed to the increasing security standards and concerns laid down
by international bodies, acting as external motivation for the adoption of
physical identity and access management market in Asia-Pacific region.
The major players in the market include IBM Corporation, AWS,
HID Global, AlertEnterprise Inc, Micro Focus International plc, Oracle
Corporation, Atos SE, Nexus Group, Wipro Ltd, and Access Security Corporation
among others.
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Key questions
answered in this research report:
- At what pace is the Global
Physical Identity and Access Management market growing? What will be the
growth trend in the future?
- What are the key drivers and
restraints in the Global Physical Identity and Access Management market?
What will be the impact of drivers and restraints in the future?
- What are the regional
revenue and forecast breakdowns? Which are the major regional revenue
pockets for growth in the Global Physical Identity and Access Management
market?
- What are the various
verticals in the Global Physical Identity and Access Management market
and how they are poised to grow?
- What companies are the major
participants in this market and their business strategies, how does the
competitive landscape look like?
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