The global IAM software market (Identity and Access Management) is suggested to have reached a value of around $5.13 billion at the beginning of 2013, and is forecast to grow to a total of $10.4 billion by 2018. This suggests a CAGR growth rate of 15.1% between 2013 and 2018.
The major force driving the IAM Market is the lowering proportion of services required for implementation of an IAM project (via- cloud IAM) as it was too heavy for Small- and Medium-sized Enterprises (SMEs) to afford traditional cost structure. SMEs across the globe will start investing in IAM projects in coming years, as traditional cost structure is slowly getting replaced by attractive pricing offers such as monthly subscription, usage-based pricing, etc.
The need to connect and manage complex structure of federated digital identities which includes integration, interoperability, and compatibility issues will always remain one among the key challenges for both enterprises as well as existing IAM vendors.
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