Global Physical Identity And Access Management Market Size 2024, Forecast To 2033
6 Mar, 2024
The physical identity and access management market size has witnessed rapid growth in recent years, rising from $1.13 billion in 2023 to $1.29 billion in 2024, with a compound annual growth rate (CAGR) of 13.9%. This growth is attributed to factors such as the aging population, the prevalence of cardiovascular diseases, improvements in diagnostic technologies, advancements in surgical techniques, and increased awareness programs. Looking forward, the market is expected to experience continued rapid growth, reaching $2.2 billion by 2028, with a CAGR of 14.3%. The anticipated growth is driven by the increasing global aging population, the rising incidence of cardiovascular diseases, advancements in treatment modalities, increased awareness of genetic predispositions, and the development of healthcare infrastructure. Major trends expected in the forecast period include the development of next-generation stent grafts, technological integration for remote monitoring, the prevalence of abdominal aortic aneurysms (AAA), the aging global population, and collaborations in research and development.
Global Physical Identity And Access Management Market Key Driver
Growing awareness about data security is anticipated to drive the expansion of the physical identity and access management market. The heightened awareness revolves around safeguarding data from unauthorized access and corruption, emphasizing the protection of personal information, employee or visitor identities, credentials, and access permissions within the data security framework. Employing measures such as encryption and access controls ensures information confidentiality, preventing unauthorized access or disclosure. Notably, in February 2023, a security magazine reported that 67% of firms faced identity-related breaches in the past year, disclosing 84% of these incidents. Additionally, 60% of organizations reported each user having over 21 different identities, with 34% stating a range between 21 and 30 identities. This surge in data security consciousness propels the physical identity and access management market's growth, with its market sizes reaching 2023, 2024, and 2028 values.
Get A Free Sample Of The Global Physical Identity And Access Management Market ReportGlobal Physical Identity And Access Management Market Segments
The physical identity and access management market covered in this report is segmented –
1) By Type: Software, Services
2) By Anatomy: Authenticator, Reader, Locks, Doors, Host, Controller, Card Management System
3) By Organization Size: Small And Medium Sized Enterprises, Large Enterprises
4) By Industry Vertical: Government And Defense, Energy And Utilities, Information Technology And IT-Enabled Services, Telecom, Banking Financial Services And Insurance (BFSI), Healthcare, Education, Transportation, Airport, Other Industry Verticals
By Geography:The regions covered in the physical identity and access management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the physical identity and access management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global physical identity and access management market report during the forecast period. The regions covered in the physical identity and access management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Physical Identity And Access Management Industry Players
IBM Corporation, Oracle Corporation, Nexus Group, HID Global Corporation, Alert Enterprise Inc., IDCUBE Identification Systems (P) Ltd., Micro Focus International PLC., Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, Infosys Limited, HCL Technologies Limited, Capgemini SE, F5 Inc., Microsoft Corporation, Thales Group, Accenture PLC., Convergint Technologies LLC, WIPRO Ltd., Acces Security Corporation, Identiv Inc., Johnson Controls International PLC, Gallagher Group Limited, Honeywell International Inc., Quantum Secure Inc., Crossmatch Technologies Inc., Genetec Inc., AMAG Technology Inc., Brivo Inc., Identropy Inc., Anviz Global Inc., EyeLock LLC, Suprema Inc., Alvarado Manufacturing Company Inc., 3M Company, NEC Corporation, Gemalto NV, ZKTeco Inc.
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Physical Identity And Access Management Market Overview
Physical identity and access management refers to a structure of administrative procedures, laws, and technological tools that coordinates the control of identities and people's physical access to facilities. These technologies integrate with physical access control systems to enforce user access profiles. They have also been integrated with HR, ERP, learning management, or other corporate systems to help with the continuing management of the physical identity.
Physical Identity And Access Management Global Market Report 2023 provides data on the global physical identity and access management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The physical identity and access management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.