Redefining Security: User Provisioning Market Dynamics and Future Outlook 2031
Surge in demand for improvement in workforce utilization, and rise in incidents of identity thefts are expected to drive the user provisioning market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 18, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global user provisioning market generated $4.3 billion in 2021, and is projected to reach $15 billion by 2031, growing at a CAGR of 13.6% from 2022 to 2031.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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User provisioning market refers to the sector within the IT industry that focuses on providing solutions and services for managing user identities, access privileges, and permissions within an organization’s digital ecosystem. User provisioning encompasses activities such as creating, modifying, and deleting user accounts, assigning appropriate access rights based on roles or policies, and ensuring compliance with security protocols and regulations.
Furthermore, the market is driven by factors such as the growing complexity of IT environments, the need to comply with regulatory requirements, and the rising importance of cybersecurity. Organizations across various industries, including finance, healthcare, government, and retail, rely on user provisioning solutions to safeguard their digital assets and ensure efficient and secure access management.
Increase in the adoption of cloud-based software by various companies across the globe, surge in demand for improvement in workforce utilization, and rise in incidents of identity thefts are expected to drive the growth of the global user provisioning market. Shutdown in the production of various industries, reduction in workforce, and economic slowdown in various countries during the pandemic negatively impacted the growth of the global market.
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COVID-19 Scenario:
• The outbreak of COVID-19 has harmed the growth of the global user provisioning market, owing to the occurrence of lockdowns in various countries across the globe.
• Lockdowns resulted in the closure of various industries and businesses’ manufacturing and production facilities, adversely impacting the market’s growth.
• In addition, the economic slowdown of various economies further aggravated the impact of the market.
• The government imposed these restrictions to curb the spread of the virus during the pandemic. However, the incidents of identity theft were still on the rise. Emerging advancements in the market are providing remunerative opportunities for growth. Moreover, many enterprises are investing highly in the user provisioning market.
The report offers detailed segmentation of the global user provisioning market based on component, business function, deployment model, organization size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on business function, the IT segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The marketing and sales segment, on the other hand, is expected to cite the fastest CAGR of 15.9% during the forecast period.
Based on deployment model, the on-premises segment held the dominating market share in 2021, holding more than half of the global market. The cloud segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 15.1% during the forecast period.
Based on organization size, the large enterprises segment held the largest market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The SMEs segment, on the other hand, is expected to cite the fastest CAGR of 14.7% during the forecast period.
This report gives an in-depth profile of some key market players in user provisioning industry include ATOS, CA Technologies, Cyberark, Centrify Corporation, Dell Technologies, EmpowerID, Inc., Hitachi, Happiest Minds, IDMWORKS, Kinetix, OneLogin, Inc., IBM Corporation, JumpCloud, Microsoft Corporation, Oracle Corporation, SAP SE, SolorWinds LLC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the user provisioning industry globally.
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The report analyzes these key players in the global user provisioning market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report helps analyze recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Key components of the user provisioning market include:
1. Identity Management Solutions: These are platforms or software applications that facilitate the management of user identities, authentication, and authorization processes. They often include features such as single sign-on (SSO), multi-factor authentication (MFA), and role-based access control (RBAC).
2. Access Management Tools: These tools focus on controlling access to resources, applications, and data based on user identities and permissions. Access management solutions help enforce security policies and prevent unauthorized access to sensitive information.
3. Provisioning Systems: These systems automate the process of creating, updating, and deleting user accounts and access privileges across various IT systems and applications. They streamline administrative tasks and help organizations maintain consistency and security in user provisioning processes.
4. Identity Governance and Administration (IGA): IGA solutions combine identity management, access management, and governance capabilities to ensure that user access rights align with organizational policies and compliance requirements. They provide features for access certification, segregation of duties (SoD) analysis, and audit trails.
5. Cloud Identity and Access Management (IAM): With the increasing adoption of cloud services and distributed IT environments, cloud IAM solutions have become essential for managing user identities and access across cloud-based applications and infrastructure.
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