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Physical Identity & Access Management (PIAM) Market Report, 2025

Physical Identity And Access Management Market Analysis Report By Offering, By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17620157  |  Published: October 2020  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global physical identity and access management (PIAM) market size was worth USD 427.0 million in 2018 and expected to grow with a CAGR of 14.6% over the forecast period, from 2019 to 2025. Factors such as rising investment for corporate security coupled with increasing demand for access control and management software are majorly driving the market growth. In addition, numerous companies are adopting this solution to prevent cyber threats and implementation of better IT strategy in order to enhance operational efficiency.

Physical identity & access management solutions give a comprehensive management platform for authentication and access of visitors, contractors, partners, and employees to organizational infrastructure. This solution offers complete efficient and automated management to industry and corporate security landscape. Further, companies are also focusing on security management and integrating them with a single platform. This factor is expected to propel the demand for physical identity and access management solutions during the projected years.

U.S. PIAM market

The market is majorly driven by government initiative for compliance and standard policies in airport and energy & utilities security.  In addition, government support for regulating security protocols in both public and private sectors owing to which industries like civilian infrastructure and pharmaceutical are projected to come under government purview. As a result, physical identity and access management solutions are expected to adopt extensively over the forecast period.

Moreover, there are several regulatory compliances like North-American Electric Reliability Corporation (NERC), Sarbanes Oxley Act of 2002 (SOX), Sarbanes Oxley Act of 2002 (SOX), and Gramm-Leach-Bliley Financial Modernization Act (GLB) for security in life science, BFSI, education, energy & utilities, and other industries. These acts imposed companies to keep their data safe from external and internal threats. This scenario is expected to drive the PIAM market growth over the forecast period.

Technological advancement and digitalization such as increasing application of smart cards and other contactless card has increased the need for personal data security, thereby demand for PIAM is expected to increase across several sectors. Further, growing numbers of smartphone users are influencing organizations for developing applications for consumers to find identity management solutions.

In this industry, solution possesses multiple capabilities like entity lifecycle management, PIV management, modeling & corrections, and predictive analytics. In order to curb risks of cyber threats and gap between several systems such as OT and IT, PIAM solution offers complete automated solution, thereby expected to open new avenues for development of security ecosystem. Moreover, emergence of PIAM solution has enabled companies to keep their employee’s identity and assets safe with the help of automated security systems. Due to the introduction of PIAM technology, companies are now able to safeguard their employees and assets.

Offering Insights

Based on offerings, the physical identity and access management market is fragmented into software and services. Software segment is expected to hold the largest market share over the forecast period wherein the services segment is expected to witness robust growth over the projected period. Physical identity & access management solutions provide several capabilities such as badging solutions, PIV management, contractor/partner authorization and authentication, and employee lifecycle management. Moreover, badging solutions are anticipated to have a significant growth due to increasing adoption for airports in developing countries.

Europe PIAM market The physical identity & access management solutions deployment is done by both on-premise and via Software as a Service (SaaS) model. Services segment has been majorly driven by sectors such as healthcare, airports, defense & security and software segment is driven by healthcare sector.

The PIAM solution handles users and permission on a single source within an organization. Therefore, physical identity & access management services help users to improve operational efficiency and reduction in management cost.

Product Insight

On the basis of product, the market is segmented into credential management, backend database solutions, and visitor management. In 2018, credential management dominated the market and accounted for the leading market share, compliance solutions, federal PIV solutions, and directory management are also widely gaining popularity among government agencies and enterprises. The credential management solution is expected to witness significant growth due to data security and privacy regulations. Under these regulations, all processes for changing revoking, and issuing identities of persons and their credentials should be manage by a centralized system for assuring traceability and suitability.

Regulatory bodies like the Federal Aviation Administration (FAA) and Transportation Security Administration (TSA) govern several aspects of credential policies along with operations of federal offices and airports. This has led to the demand for physical access control systems with features like Security Threat Assessment (STA), active directories, and even Criminal History Records Checks (CHRC). Hence, credential management segment is expected to witness significant growth over the forecast period.

Application Insights

Based on application, the PIAM market is segmented into BFSI, airports, IT & telecom, defense & security, industrial, government & public sector, and others (transport, logistics, and education).  BFSI segment held the largest market share, in 2018 due to the presence of critical data and assets. This segment is expected to witness robust growth during the forecast period in emerging countries like China and India. In addition, PIAM solution providers are offering their services with the SaaS model, thereby this solution is gaining traction among SMBs in order to reduce the operational cost of system administration and increase performance efficiency.

The BFSI segment is followed by defense & security segment due to strict authorization and authentication procedures in this industry. The government and public segment are expected to witness considerable growth over the forecast period due to increasing investment for physical identity & access management solutions from developing economies.

Regional Insights

In 2018, North held the largest market share in terms of revenue. This largest revenue market share is attributed to high technological proliferation in Canada and U.S. The PIAM solution is highly adopted in U.S. Furthermore, growing number of data breaches incidences in Europe and North America is expected to boost the demand for PIAM solution in the next few years. Further, strict government regulations in U.S. by government for data security and protection against threats are also anticipated to surge the demand for PIAM software.

Asia Pacific is expected to grow with the highest CAGR during the forecast period. This growth is attributed to growing awareness in emerging countries regarding data security and the benefits of PIAM solution among government agencies and corporate sectors. In addition, security standards and concerns imposed by international bodies are also playing a vital role in the adoption of physical identity & access management solutions. In this region, China followed by India accounted for the largest market share, in 2018 and expected to retain its position throughout the forecast period.

COVID-19 Impact Analysis

The outbreak of the COVID-19 virus has positively impacted the market. During this situation, several industries are shifting towards automation and digitalization. To maintain safety and contactless measures, many corporates are adopting facial recognition and PIAM solutions.  Maintaining privacy and security of company’s asset and also employees, contractors and visitors has become essential part in an every organization thereby expected to drive the demand for PIAM solution to increase operational efficiency and risk management.

Physical Identity And Access Management Market Share Insights

Key players included in this market are Avatier Corp; Intellisoft Technologies, Inc.; HID Global; Alert Enterprise; NetIQ Corp.; Quantum Secure; ForgeRock, and Integid GmbH.  Companies are striving to offer advanced PIAM software to government agencies and corporate entities for managing security identities of numerous security systems. In addition, they are also concentrating on developing new features by integrating technologies like facial recognition and artificial intelligence. For example, in 2019, AlertEnterprise has announced an addition of facial recognition feature to Visitor Management Kiosk software.  This advanced feature enables organizations to check-in processes by contractors, guests, employees, and visitors. In addition, this software also offers PIAM solution by integrating with Enterprise Guardian software. The market is fragmented and highly competitive due to the presence of regional and global market players. Strategies such as mergers, acquisitions, and collaborations are adopted by key market players. For example, Nexus Technology GmbH merged with Integid GmbH, in 2016. This acquisition will help Nexus Technology GmbH to strengthen its expertise in entitlement management field for physical access control.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., China, India, Japan, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information which is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global physical identity and access management market report on the basis of offering, product, application and region:

• Offering Outlook (Revenue, USD Million, 2014 - 2025)
    • Software
    • Services

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Backend Database Solutions
    • Credential Management
    • Visitor Management

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • BFSI
    • Defense& Security
    • Airports
    • IT & Telecom
    • Government & Public Sector
    • Industrial
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • MEA

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