Security Challenges Drive Growth For IAM Solutions
The world is changing fast, and bring-your-own-device (BYOD) and telecommuting are increasingly becoming the norm, not the exception. This increasingly mobile and flexible workforce creates new security challenges as more and different types of devices are being used in multiple locations. Security and risk professionals must ensure that only the right people get access to the right information at the right time and for the right reasons. Identity and access management (IAM) tools help evaluate who has authorized access to which resources and why.
In our recently published Forrester Data: World Identity And Access Management Software Forecast, 2016 To 2021 (Global), Forrester predicts that the IAM software market will grow to $13.3 billion by 2021, from $7.7 billion in 2016, implying an 11.5% CAGR.
While IAM has traditionally focused on access for employees and business partners, we actually expect customer identity access management (CIAM) to be one of the fastest growing IAM niches. CIAM requires a delicate balance between security measures that are strong enough but don’t detract from the customer experience. As a bonus, data collected by CIAM tools can help with customer retention and drive profitability. As companies learn to leverage this data, we expect 19.5% annual CIAM software growth over the next five years.
Forrester clients can learn more about the opportunities (and challenges) of IAM in these recent reports by my colleagues Merritt Maxim and Andras Cser: Build Your Identity And Access Management Strategy, Making The Business Case For Identity And Access Management, Understand The State Of Identity And Access Management, and The Future Of Identity And Access Management
For more insights regarding the CIAM opportunity, please see the following reports by the same authors: The Best Of Website Experiences And Security Strength: US Online Retail Banks and Forrester’s Customer IAM Security Maturity Assessment Model