Physical identity and access management (PIAM) is a management platform that allows organizations to secure premises by enabling secure authentication and access of employees, contractors, visitors, and others. It comprises processes such as provisioning, authoritative identity storage, runtime authorization, authentication, security event correlation, and logical attribute authority.
The global physical identity and access management market size is anticipated to reach over USD 1 billion by 2025. This can be attributed to the increasing strict government regulations and compliance related to security. Also, increasing demand from organizations for diverse security systems to streamline security management of an entire organization or business is the key factor driving the market demand globally.
However, the lack of awareness about advanced security solutions among various businesses and enterprises is expected to hamper the market growth. Furthermore, the increased adoption of physical access control systems is anticipated to create lucrative opportunities for the global physical identity and access management market in upcoming years.
Key Segments of the Global Physical Identity and Access Management Market
Component Overview, 2018-2025 (USD Million)
Organization Size Overview, 2018-2025 (USD Million)
• Large organization
• Small & medium organization
Industry Vertical Overview, 2018-2025 (USD Million)
• IT & Telecom
• Government & Defense
Regional Overview, 2018-2025 (USD Million)
• Rest of Europe
• Rest of Asia-Pacific
Middle East and Africa
• South Africa
• Rest of Middle East and Africa
• Rest of South America
Reasons for the study
• The purpose of the study is to give an exhaustive outlook of the global physical identity and access management market. Benchmark yourself against the rest of the market.
• Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
• The study on the global Physical identity and access management market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the Physical identity and access management industry and their strategic initiatives for the product development
• The study covers a qualitative and quantitative analysis of the market segmented based on component, organization size, and industry vertical. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
• This study is suitable for industry participants and stakeholders in the global physical identity and access management market. The report will benefit: Every stakeholder involved in the physical identity and access management market.
• Managers within the physical identity and access management industry looking to publish recent and forecasted statistics about the global physical identity and access management market.
• Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global physical identity and access management market.
• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The physical identity and access management market has strong competition among the new emerging and already established players globally. The market is in its maturity stage due to the wide application of identity and access management software and services across various industries. Also, the market has become fragmented due to the growing competition and the emergence of several new industry players worldwide.
The physical identity and access management software and solutions deployments are growing worldwide due to the increasing compliance mandates, product and technology developments, growing need to manage individuals such as on-premise contractors and visitors. The market has potential benefits in the near future and industry players and other organizations should keep an eye on the developments of the technology due to its potentially significant benefits in upcoming years.
Based on the component segment, the market is divided into software and services. In 2019, the software segment gathered the highest market revenue and it is anticipated to govern the physical identity and access management market throughout the forecast period. However, the services segment is expected to gather the highest CAGR throughout the forecast period.
Organization size Segment
Based on the organization size, the market is segmented into large organizations and small & medium organizations, social engineering, mobile organization size, cloud, and others. The small & medium organization segment is anticipated to gather the highest growth rate during the forecast period.
Industry Vertical Segment
Based on industry vertical, the market is bifurcated into IT & telecom, BFSI, retail, healthcare, government & defense, and others. In 2019, the BFSI segment captured the highest market revenue and is anticipated to dominate the physical identity and access management market throughout the forecast period. The dominance of this segment is mainly attributed to increasing rigorous authorization and authentication procedures across the financial sector. On the contrary, the healthcare industry is anticipated to gather the highest growth rate throughout the forecast period.
The North American region dominated the overall market in 2019 and it is expected to do so throughout the forecast period 2020-2025. The dominance of this region mainly attributed to the presence of major market players such as IBM, HID Global, Oracle, and others in this region. However, the Asia-Pacific region is anticipated to experience the highest growth rate during the forecast period. The growth of this region is mainly accredited to the accessibility to physical identity and access management solutions & services and growing awareness about data security across the emerging economies in this region.
The major players of the global physical identity and access management market are Gemalto, IBM, Oracle, Amazon Web Services (AWS), Atos, Identiv, Wipro, HID Global, AlertEnterprise, and Micro Focus. Moreover, the other potential players in the physical identity and access management market are IDCUBE, Okta, Nexus Group, Access Security Corporation, and Alfrednet. The recognized companies are coming up with innovative and new entertainment technologies and software. For instance, In April 2019, HID Global, an identity solutions provider announced the launch of its cloud identity platform. The new authentication service enables efficient management of identities through a secure cloud delivery model.