The "Physical Identity and Access Management (PIAM) Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The physical identity and access management (PIAM) software market is expected to register a CAGR of 13% during the forecast period (2021 - 2026).
HID Global Corporation
IDCUBE Identification Systems (P) Ltd
Micro Focus International PLC
Amazon Web Services Inc.
Convergint Technologies LLC
Acces Security Corporation
Key Market Trends
BFSI is Expected to Hold the Largest Market
Real-time management of identities and related areas that are dispersed across physical and logical security infrastructure becomes crucial. Therefore, creating efficiencies and automation in identity management through physical access and identity management may help in curbing such silos.
Various regulations, such as BASEL II and GLBA, have become fixtures from a compliance standpoint and are likely to be influential in boosting the PIAM market positively, during the forecast period.
In April 2019, AlertEnterprise announced the addition of biometric facial recognition technology to its Visitor Management Kiosk software, to deliver frictionless access security to organizations for check-in processes by employees, visitors, contractors, and guests. This software provides complete physical identity and access management solutions when combined with the Enterprise Guardian software.
PIAM offers some benefits to the financial institutions, such as generating reports and automatically extracting compliance-related information from data on a regular basis, thus demonstrating compliance with each of the regulations governing their operations.
North America is Expected to Hold the Largest Share in Market
Inorder to better protect a person's physical identity credentials, as well as digital identity, from a potential loss or threat, the convergence of physical and logical security and identity authentication methods play an important role.
According to the Identity Theft Association, there were 135 data breaches in the United States, from 2014 to 2018, in the fields of banking, credit, financial institutions. These breaches have stirred the need for a solution that can help in preventing such occurrences, which may, in turn, boost the PIAM market in the region.
The increased spending by the government in the aerospace and defense sector is expected to positively influence the PIAM market throughout the forecast period. For instance, NATO projected that, in 2018, the United States was planning to spend USD 1,989 per capita on military causes.
According to a report from the Office of Inspector General from the US Environmental Protection Agency, in 2017, CSB's identity and access management and incident response metric domains were weak, as they were unable to detect the attacks in a timely manner and required improvements. Therefore, physical identity and access management software can help in coping with such threats.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Compliance Mandates from Governments
4.3.2 Management of On-site Visitors and Contractors
4.4 Market Restraints
4.4.1 Security of Data Stored with Third Party (Cloud)
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.2 By End-user Industry
5.2.2 Aerospace and Defense
5.2.4 IT and Telecom
5.2.5 Other End-user Industries
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 HID Global Corporation
6.1.2 AlertEnterprise Inc.
6.1.3 IDCUBE Identification Systems (P) Ltd
6.1.4 Micro Focus International PLC
6.1.5 Amazon Web Services Inc.
6.1.6 Convergint Technologies LLC
6.1.7 WIPRO Ltd
6.1.8 Acces Security Corporation
6.1.9 IBM Corporation
6.1.10 SAASPASS Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ui8awj
View source version on businesswire.com: https://www.businesswire.com/news/home/20210415005449/en/
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