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User Provisioning Market
Asia Pacific is expected to exhibit highest growth during the forecast period, owing to rapid technological advancements, digitization of economies
WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire / -- The global User Provisioning
market size was valued at $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 major driving factor of the market is the increased adoption of cloud-based software. Moreover, rise in demand for improvement in workforce utilization is anticipated to fuel the market growth. Therefore, the user provisioning market is expected to grow rapidly in the forecast period. User provisioning is basically a process of creating and managing access to IT system resources. User provisioning aids organizations to manage information of users on an application effectively, securely and reliably. The user provisioning software offers a point of preservation to control user access to various IT applications. This software enables HR staff to use the database and collect information of employees and track access requests.
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On the basis of components, the solution segment dominated the user provisioning market share in 2021 and is expected to maintain its dominance in the upcoming years, as it aids in ensuring organization cost savings, management control, operational efficiency, and the growth of the business. However, the services segment is expected to witness highest growth, because it minimizes the deployment cost & risks, and others, which further fuels the growth of the market.
Depending on region, North America dominated the User Provisioning Market Analysis in 2021, owing to rise in concerns related to the security of IT infrastructure and complex data have encouraged enterprises in the North American region to adopt reliable user provisioning and authentication solutions. However, Asia Pacific is expected to exhibit highest growth during the forecast period, owing to rapid technological advancements, digitization of economies, and government initiatives increased expandable income among the region's middle-income population.
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COVID -19 outbreak has significantly impacted the user provisioning market. It led to multiple restrictions and indefinite shutdown of production across the globe. Many industries and businesses were stopped which effected the global economy and led to economical downfall of many countries. However, during this pandemic, 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 key players profiled in this report include
Dell Technologies Inc., OneLogin, Inc., cyberArk, Hitachi ID Systems, Inc., EmpowerID, Inc., EmpowerID, Happiest Minds Technolgoies, SolarWinds Worldwide LLC, Oracle Corporation, Centrify Corporation, Kinetix Technology Service LLC, SAP SE, Jumpcloud, ATOS, Microsoft Corporation, CA Technologies, IBM
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The major driving factor of the market is the increased adoption of cloud-based software. Moreover, rise in demand for improvement in workforce utilization is anticipated to fuel the market growth.
KEY FINDINGS OF THE STUDY
By component, the solution segment dominated the user provisioning market in 2021. However, the services segment is expected to exhibit significant growth during the forecast period.
On the basis of deployment, the On-premises segment dominated the sports management software market in 2021, the Cloud segment is expected to witness the highest growth rate during the forecast period.
On the basis of business function, the IT the highest revenue in 2021. However, the Marketing and Sales is expected to witness the highest growth rate during the forecast period.
Depending on industry vertical, the BFSI the highest revenue in 2021. However, the Education industry is expected to witness the highest growth rate in the near future.
Region-wise, the user provisioning market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
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Furthermore, increase in adoption of cloud-based IAM and rise in incidents of identity thefts is boosting the growth of the global user provisioning market. However, high cost and lack of security expertise and shadow IT risk is hampering the user provisioning market growth. On the contrary, trending technology is expected to offer remunerative opportunities for expansion during the user provisioning market forecast.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.