“The only constant in life is change” – Heraclitus
We have all been there… After painstaking planning, you have built something of beauty – and then the world changes. This is just ‘another day in the office’ for identity and access management professionals.
That new application in the cloud, increased governance demands, or the Board finally realising that you do indeed need to be more secure if you want to be able to work in different ways. It’s a challenge.
And your job isn’t getting any easier. The global demand for IAM is outstripping budget spending, and the skills gap is ever growing.
The global IAM market is expected to grow to USD $20.87 billion by the end of year 2022 with a compound annual growth rate of 14.8%.
So what are the five key trends driving increases in IAM demand? And how can IT departments and technologies adapt to overcome the challenges ahead?
5. It’s looking awfully cloudy out there
The explosion of cloud technology and cloud-based apps are driving a move away from traditional on-premises-only identities to cloud-based and hybrid Identity as a Service (IDaaS) solutions.
For B2E and B2P use cases, it is estimated that IDaaS offers 30% to 40% lower entry costs for IAM than comparable on-prem IAM solutions. As a result, demand for these cloud solutions has been and will continue to grow at 12% to 15% annually.
The provisioning, and administration, of these accounts and their inclusion as part of an identity life cycle must be considered when looking at deploying any IDaaS solution. The new system should also tie in with the existing on-premises life cycle, ensuring that the cloud and on-premises environment are joined up.
4. Yet more data governance and compliance is needed in the aftermath of GDPR
It’s here to stay…The strict rules and heavy fines imposed by the GDPR are now a key growth driver within the IAM market, as many organisations strive to improve and maintain high levels of regulatory compliance and data governance practices.
Back in 2016, an Ovum report of 366 top IT decision makers highlighted that two-thirds of businesses expect to see significant change in their global business strategies to accommodate new data privacy regulation, and that over 70% of respondents expect to increase spending in order to meet data sovereignty requirements.
It will be key to ensure that the compliance required to access the data is maintained at a high level. The specific users (whose identities are known) who have access to this data must be managed and maintained in line with their status within the organisation.
When they leave, it is removed; if they are suspended (or on sabbatical), then their access should also be curtailed. This must be auditable to ensure that compliance can be proven.
Why not download our FREE identity trends infographic?
3. BYOD policies bring new security challenges and drive demand for IAM
By 2020, 46% of the workforce will be made up of millennials and they expect, no, they demand collaborative and connected ways of working! BYOD policies within businesses are on the rise as companies recognise the need to power mobile and flexible working.
As demand for BYOD from employees increases, and as CISOs continue to work towards the mantra of ‘anyone, any device, anywhere’, you can be sure this will drive changes in the IAM strategy – the cornerstone to security.
The ‘anyone’ in this mantra relates to approved users – whether employees, partners or clients; whether they are using their own or corporate devices to work appropriately. This will then allow the ‘right people’ to access the ‘right information’ when they need it.
2. The explosion of IoT presents a new identity challenge
Gartner predicts that connected ‘things’ in use worldwide will grow from 8.4 billion in 2017 to 20.4 billion by 2020. Depending on what you read this could rise as high as 25 billion connected objects within the next five years.
With the proliferation of all these new digital identities, bi-passing the traditional firewall and perimeter security model, organisations are being forced to introduce structured security solutions with identity and IAM fundamentals at the core.
New strategies and techniques need to be developed to resolve the issue of IoT security, and many believe this needs to come from looking closer into the ‘Identity’ of things (IDoT) rather than looking at traditional user identities.
1. The end of the simple password
‘Get with the beat Baggy’ – it’s all about biometric logins, conditional access, and multi-factor authentication now. Gone are the days when the simple password met the security requirements for leading businesses to grant access to sensitive information.
Biometric logins running through something like Microsoft’s Enterprise Mobility + Security conditional access security solution, paired together with smart multi-factor authentication rules, is the holy grail for security professionals – and something that should be on the radar for IAM professionals as they look to develop future strategies to aid digital transformation.
For more detailed information related to these critical market trends in IAM, and to understand how you can focus time and stretched IT resources in the right areas, read our full white paper: “What are the biggest trends in identity and access management?”
Or take our two minute Identity and Access Management Assessment to find out how well equipped your organisation is to meet ever evolving security and compliance requirements.
- Technavio (June 6 2018). “Global Identity and Access Management Market 2018-2022”. Orbis Research. Available at: http://www.orbisresearch.com/reports/index/global-identity-and-access-management-market-2018-2022 [accessed 20.07.18]
- Maxim M, Cser A, Adams J et al (July 24 2017). “The IAM Market Will Surpass $13 Billion By 2021” Forrester Report
- Rodger A (2015). “Data privacy laws: Cutting the red tape”. Ovum Report. Available at: http://www.ten-inc.com/presentations/intralinks2016.pdf [accessed 16.07.18]
- Brack J, Kelly K (2012) “Maximizing Millennials in the Workplace”. Available at: https://www.kenan-flagler.unc.edu/executive-development/custom-programs/~/media/files/documents/executive-development/maximizing-millennials-in-the-workplace.pdf [Accessed 16.07.18]
- Van der Meulen R (Feb 7 2017). “Gartner Says 8.4 Billion Connected “Things” Will Be in Use in 2017, Up 31 Percent From 2016” Available at: https://www.gartner.com/newsroom/id/3598917 [Accessed 16.07.18]