User Provisioning Market worth $8.25 Billion by 2026 at a growth rate of 10.18% - IndustryARC

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User Provisioning Market Drivers Increasing Adoption of Cloud Based Identity Access Management Solutions is set to Drive the Market

HYDERABAD, TELANGANA, INDIA, January 9, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that User Provisioning Market size is estimated to reach $8.25 billion by 2026 at a CAGR 10.18% during the forecast period 2021-2026. Globally, increasing adoption of Identity Access Management (IAM) solutions in various industries such as IT & Telecom, BFSI and Retail & E-commerce is set to drive the User Provisioning market. User Provisioning requires system integrators to streamline authorization workflow by connecting IAM framework with various applications. Additionally, rising awareness of compliance management increases the adoption of user governance and compliance solution more effectively within enterprises, is also significantly triggering the User Provisioning Market growth. Furthermore, the adoption of user provisioning solutions has been increasing in healthcare sector to achieve streamline operations via automation and self-service access is catalyzing the growth of the market. With the growing popularity of Managed service providers, Organizations can customize services such as provisioning, Privileged Access Management (PAM), cyber-security management reporting, role-based access control fulfillments and education & training based on their specific needs. Such factors are analyzed to drive the market during the forecast period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. Cloud segment is analyzed to witness the highest growth rate in the User Provisioning market during the forecast period 2021-2026, owing to factors such as the capability of providing consistent user experience and accommodating full user life cycle management.

2. Healthcare industry is anticipated to grow with the highest CAGR of around 13.18% in the global User Provisioning market during the forecast period 2021-2026 due to rising healthcare data breaches incidents.

3. North America region is analyzed to witness the fastest growth in the global user Provisioning market during 2021-2026, owing to rising identity thefts as well as fraud incidents.

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Segmental Analysis:

1. Cloud segment is analyzed to account for the highest CAGR of 13.48% in the global User Provisioning Market during the forecast period 2021-2026, owing to the increasing usage of cloud-based services by industry verticals such as healthcare, BFSI and e-commerce.

2. Based on industry verticals segmentation, Healthcare held the highest User Provisioning market share of around 13.55% in the global User Provisioning market in 2020 and is estimated to grow at highest rate during the forecast period, owing to use of electronic medical records.

3. According to US Department of Health and Human Services, number of healthcare data breaches incidents rose to 600 in 2020 in U.S., 55% spike from 2019. Such incidents are poised to offer opportunities for User Provisioning solutions in this sector.

4. North America held the highest User Provisioning Market share of around 35% in the global User Provisioning Market in 2020 and is further set to grow at a highest rate during the forecast period 2021-2026.

5. In August 2021, Microsoft Corporation decided to invest $20 billion over next five years in cyber security, owing to rising cyber attacks. Similarly, In June 2020, U.S. government decided to invest $18.78 billion budget in cyber security for 2021. Such investments can influence the growth of User Provisioning Market in the long run.

Competitive Landscape:

The top 5 players in the User Provisioning industry are -

1. IBM Corporation

2. ATOS

3. CA Technologies

4. Centrify Corporation

5. Dell

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