Identity and Access Management Market Thrives Amid Rising Digital Threats and Regulatory Mandates

According to the latest market research study published by P&S Intelligence, the global Identity and Access Management market was valued at USD 21.56 billion in 2024, and is expected to grow at a robust CAGR of 15.2% from 2025 to 2032, reaching USD 66.31 billion by the end of the period. This expansion is driven by surging cyber threats, an increasing shift to cloud computing, and widespread adoption of bring‑your‑own‑device (BYOD) environments that demand secure and seamless identity-first access controls.

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North America currently represents the largest regional market for IAM, thanks to its advanced tech infrastructure and rigorous regulatory mandates, while Asia‑Pacific (APAC) emerges as the fastest‑growing region due to rapid digitalization and elevated cybersecurity awareness across markets such as India and China. Among industry verticals, the banking, financial services, and insurance (BFSI) segment leads in IAM adoption, whereas healthcare is witnessing the fastest growth due to the urgent need to safeguard sensitive patient data and digitized health records.

Key Insights

• The IAM market is broken down by deployment types, with on‑premises, cloud‑based, and hybrid solutions catering to varied organizational needs. Cloud‑based platforms are gaining traction for their flexibility and cost efficiency, while on‑premises deployments remain vital for sectors demanding stringent control over infrastructure.
• The healthcare vertical, currently undergoing rapid digital transformation, is emerging as a leading growth area. IAM solutions are vital to secure electronic health records, comply with privacy regulations and support telemedicine infrastructures.
• On the regional front, North America dominates market share as of 2024, whereas APAC registers the highest CAGR—driven by increasing internet penetration, cloud usage, and heightened cybersecurity investments in major economies such as India and China.
• In terms of technological advancements, IAM is evolving with zero‑trust security models, multi‑factor authentication, and identity governance frameworks that enforce continuous verification and robust access policies across cloud and hybrid environments.
• The competitive landscape features major players such as SailPoint Technologies, Oracle, Microsoft, Broadcom, and ForgeRock, each advancing their footprint through innovations, enterprise deployments, and strategic expansions in identity governance and cloud IAM offerings.
• Segmentation by industry vertical indicates that BFSI remains the largest consumer of IAM solutions, while healthcare is rapidly scaling its investments due to increased security mandates and patient data protection requirements.
• As digital transformation accelerates, enterprises across sectors increasingly adopt IAM to manage identities across hybrid networks, enable seamless single sign-on (SSO), and enforce compliance policies in real time. This creates significant market opportunities for service providers and vendors offering scalable, AI‑driven identity controls.