Skip to main content

Hybrid Work Needs Identity and Access Management

Secure online access plays a key role in the exchange of data and information. That resource is more valuable to executives due to the insight it can provide in improving operational efficiencies. Protection of this resource must meet IT security requirements for approved user authentication.

Identity and Access Management (IAM) is the security discipline that enables the right individuals to access the right resources at the right times for the right reasons. These resources could be tools required to complete a job, access an enterprise database, or IT services and software apps hosted in the cloud.

Enterprise IT's essential role in the management of user authentication requires ensuring each person is who they claim to be while also enabling ease of access for those users. An effective access management solution will fulfill the security policies outlined by the Chief Information Security Officer (CISO). 

Identity and Access Management Market Development

According to the latest worldwide market study by Juniper Research, global spending on identity and access management solutions will rise from $16 billion in 2022 to $26 billion by 2027 -- that's an absolute growth of 62 percent over the next 5 years.

Identity and access management includes B2B security solutions that enable the monitoring and management of a user's access to enterprise software applications, databases, and IT services.

The increasing demand for identity and access management will originate from small businesses which, until the proliferation of the SaaS subscription model, were often unable to afford comprehensive suites of identity and access management services.

The new research found that 94 percent of global identity and access management investment will be attributable to the SaaS subscription model by 2027 -- that's rising from 60 percent in 2022.

Juniper analysts anticipate that the use of the SaaS subscription model will become increasingly popular amongst small businesses, by reducing the initial acquisition cost of these essential IT services.

Additionally, the SaaS subscription model will enable service vendors to provide regular software updates that continually improve the value proposition of their identity and access security platforms. 

The Juniper market study found that annual spending on identity and access management solutions by small businesses via SaaS subscription models will surpass $370 million globally by 2027 -- that's up from $178 million in 2022.

Identity and access management solution vendors should therefore capitalize on this growth by developing flexible pricing models that appeal to the small business sector and the large enterprise sector.

Furthermore, as enterprise adoption of public cloud services increases, so too will the demand for effective cybersecurity policies that help to prevent revenue and profit losses from cyber threats.

Outlook for Identity and Access Management Growth

According to the latest Juniper assessment, identity and access management solutions will represent a significant cornerstone of CIO and CTO cybersecurity initiatives, as more organizations seek to meet increased regulatory compliance for IT security.

That said, I believe the adoption of flexible working models and emerging hybrid work trends will drive greater demand for secure access to Digital Workspace solutions, which in turn increases the need for identity and access management offerings.

The impact of increased distributed workforce scenarios requires Chief Human Resource Officers (CHROs) to collaborate with their IT and corporate security counterparts to ensure that all intellectual property and customer data is effectively secured while in use by remote working employees.

This important process begins with new-hire onboarding and ends when the employee leaves the company. Government regulation and ongoing oversight of privacy protection also fuel the demand for secure access solutions.

Popular posts from this blog

How to Drive Value Creation from Digital Business

Across the globe, many forward-thinking CEOs and CFOs continue to fund business technology investments that enable meaningful and substantive digital transformations, ahead of their industry peer group. That's why CIOs and other IT leaders must now accelerate the quest for value creation and drive digital growth from those ongoing investments, according to the latest market study by Gartner. "The pressure on CIOs to deliver digital dividends is higher than ever," said Daniel Sanchez-Reina, VP Analyst at Gartner . "CEOs and boards anticipated that investments in digital assets, channels, and digital business capabilities would accelerate growth beyond what was previously possible." Digital Business Market Development   CIOs expect IT budgets to increase 5.1 percent on average in 2023 -- that's lower than the projected 6.5 percent global economy inflation rate. A Gartner survey analysis revealed several ways in which CIOs can deliver "digital dividends&qu

Digital Transformation Investment at $3.4 Trillion

Business technology leadership matters. Across the globe, more leaders have been pursuing bold Digital Transformation (DX) initiatives with the goal of creating new sources of business value through digital products, services, and experiences. As an additional benefit, the COVID-19 pandemic revealed that digital transformation efforts improve an organization's resilience against global market disruptions. Global DX investment is forecast to reach $3.4 trillion in 2026 with a five-year compound annual growth rate (CAGR) of 16.3 percent, according to the latest worldwide market study by International Data Corporation (IDC). Digital Transformation Market Development "Despite strong headwinds from global supply chain constraints, soaring inflation, political uncertainty, and an impending recession, investment in digital transformation is expected to remain robust," said Craig Simpson, senior research manager at IDC . The benefits of investing in DX technology -- including aut

Artificial Intelligence for National Border Security

National border protection agencies are under pressure to provide the highest level of security in the face of growing threats, such as increasing illegal migration and international terrorism. Now, government agencies are embracing advanced border security technologies to aid in effectively and reliably securing national borders. These solutions look to detect and identify potential threats and prevent them from escalating to a point that may jeopardize security. Security Surveillance Market Development Traditional border security patrols and Closed-circuit Television (CCTV) surveillance systems aren't adequate protection, and agencies must increasingly deploy new solutions to stay ahead of criminals and other potential threats to ensure the safety of a country’s borders. According to the latest market study by Juniper Research, the value of the border security technology market will exceed $70 billion globally in 2027 -- that's rising from $48 billion in 2022. Growing by 47 p