- June 15, 2021
- Posted by: Stratford Team
- Category: Business
LONDON–(BUSINESS WIRE)–The Identity authentication access market is set to grow by 13.4% in revenues in 2021 reaching $28.5bn, according to Omdia’s latest Identity Authentication Access Market Tracker. By 2025 the IAA market is projected to increase to $49.5bn, representing a CAGR of 14.9%.
In 2020, authentication was the largest segment of the IAA representing 1/3 of the total market share ($8.2bn), by 2025 authentication revenues are set to grow to $14.8bn with its market share dropping to 30% of the total market. IoT identity however, which is currently the smallest segment in 2020 (6.5%) is projected to have the highest growth over the next four years growing to $4.5bn.
On premises IAM/IDaaS, PAM and IGA accounted for $7.7bn, $2.0bn and $5.2bn according, however Omdia expects that over the next few years there will be a continued move away from on-premises products to cloud based solutions such as IDaaS.
The migration towards…
