Study: Identity Access Management spending set for 62 per cent rise

A new study has revealed that global Identity Access Management (IAM) spending is set to rise from an expected $16 billion this year to $26 billion in 2027, a 62 per cent increase.

The report, which has been published by Juniper Research, states that spending will grow due to affordable subscription services, spurred by cloud and mobile adoption, IoT, and the increase of remote working.

According to Juniper's analysts: "There are more devices and services to be managed than ever before, with different requirements for associated access privileges. With so much more to keep track of, as employees migrate through different roles in an organisation, it becomes increasingly difficult to manage identity and access."

Juniper found that small businesses are contributing to much of this growth, since the IAM market has changed and comprehensive suites have become more affordable and easier to deploy.

Naresh Persaud, managing director in cyber-identity services for Deloitte Risk and Financial Advisory said: "During the past year or so, demand for IAM has increased considerably, driven by the need to support work from home or hybrid in-office structures demanding remote access.. And, increasingly, more end users are engaging with organisations virtually. As such, we're seeing a real increase in organisations that want to leverage identity access management as a channel through which they can build customer relationships digitally."

According to Persaud, many organisations are still struggling to stitch together the various IAM subscription services. He believes that the next big challenge will be to put together the right talent to manage the entire IAM portfolio which will likely contribute to more spending, and drive some organisations to embrace managed services specifically with IAM expertise.

Persaud said: "Many organisations are working to rationalise applications and modernise or replace parts of their IAM tech stacks — or, if those stacks are functioning well, scale solutions to cover broader footprints of their apps with IAM for better workforce experience and data protection. As IAM programme sophistication advances, so do the needs for talent to run and operate those programs. The result: IAM talent has become even more scarce than it already was. Leveraging more advanced technologies and solutions and managed services are just a few of the approaches organisations can consider to help contend with that talent gap."