Bimodal Identity Management Solutions Market Size

Bimodal Identity Management Solutions Market size was valued at USD 1.24 billion in 2023 and is set to cross USD 14.46 billion by 2036, expanding at more than 20.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of bimodal identity management solutions is evaluated at USD 1.45 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.