Bimodal Identity Management Solutions Market size was valued at USD 1.5 billion in 2024 and is expected to reach USD 17.5 billion by 2037, expanding at around 20.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of bimodal identity management solutions is assessed at USD 1.77 billion.
The growth of the market can be attributed to the high need for proper authenticity check and raising security concerns in organizations around the world. Along with this, growing development of advanced identity management systems integrated with artificial intelligence, and rise in technological advancements in the IT sector globally are also expected to drive market growth significantly in the upcoming years. Furthermore, with the increase in the number of data breaches and cyberattacks, keeping data safe and secure is becoming a major concern in companies these days. In 2017, more than 700 million malware attacks were reported across the globe, which increased up to approximately 813 million attacks by the end of 2018. The requirement to ensure secrecy and proper management for accessing data is projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
20.8% |
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Base Year Market Size (2024) |
USD 1.5 billion |
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Forecast Year Market Size (2037) |
USD 17.5 billion |
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Regional Scope |
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The market is segmented by end use vertical into BFSI, telecom & IT, healthcare, retail, education, and others, out of which, the healthcare segment is anticipated to observe robust growth in the global bimodal identity management solutions market. This can be accounted to the fact that healthcare organizations experience more cyberattacks by their own employees than other end user industries. Apart from these, increasing implementation of identity management solutions to prevent unauthorized people from accessing protected healthcare information is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of enterprise size, the large enterprises segment is assessed to grab the largest share during the forecast period owing to the higher number of cases of data breaches through stolen or weak privileged credentials in large organizations.
Our in-depth analysis of the global bimodal identity management solutions market includes the following segments:
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By Deployment |
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By Enterprise Size |
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By End Use Vertical |
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Asia Pacific industry is estimated to hold largest revenue share by 2037, impelled by rising number of government initiatives regarding authenticated access control in workplaces in the region. In addition, growing number of small & medium enterprises in India and China is also expected to propel the growth of the market in the region in the coming years. There were more than 42 million small to medium-sized enterprises in China in 2020, up from 39 million and 33 million enterprises in 2019 and 2018 respectively. Moreover, the market in North America is projected to acquire the largest share during the forecast period owing to the high level of digitalization, which is raising the adoption of identity management solutions among companies, and strong presence of major market players in the region.
March 2021- PrivaceraCloud and Okta launched authZ and authN solutions to help companies achieve seamless identity management across cloud environments.
February 2020- Sophos launched its breakthrough identity access management (IAM) visualization solutions that help in managing relationships between IAM roles, IAM users and services on AWS.
Author Credits: Abhishek Verma
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