Juniper Research has found that global spending on identity and access management will rise from $16 billion in 2022 to $26 billion by 2027 and grow 62 percent over the next five years.
The report with the catchy title Identity & Access Management: Vendor Strategies, Vertical Analysis & Market Forecasts 2022-2027 includes B2B security solutions that enable the monitoring and management of users’ access to an enterprise’s applications, databases and IT services.
Apparently the increasing demand for identity & access management will originate from small businesses which, until the proliferation of the subscription model, were often unable to afford comprehensive suites of identity & access management services.
The new research found that 94 percent of global identity & access management spend will be attributable to the subscription model by 2027; rising from 60 percent in 2022. It anticipates that the use of the subscription model will become increasingly popular amongst small businesses, by minimising the initial acquisition cost of identity & access management services.