Identity Security Posture Management (ISPM) Market

[276 Pages Report] The identity security posture management (ISPM) market size is projected to grow from USD 13.7 billion in 2024 to USD 33.1 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period. The critical driver of ISPM is the proliferation of mobile devices, and digital payment methods have created new opportunities for identity-based threats. Organizations are increasingly adopting comprehensive identity security solutions to adapt to the changing landscape of mobile and digital transactions.

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ISPM MARKET DYNAMICS

Driver: Increasing frequency of identity-based attacks

Identity-based attacks exploit compromised user credentials to gain unauthorized access to resources, differing from malware attacks using legitimate authentication processes without malicious code. These attacks can involve credential compromise and privilege escalation, targeting human and non-human identities. Organizations must implement strong security measures like multi-factor authentication, employee education, and account monitoring to mitigate risks as these attacks grow in sophistication and scale. Proactive identity security measures are essential to minimize the impact of these threats. Various identity attacks include credential stuffing, password spraying, phishing, social engineering, adversary-in-the-middle (AiTM), kerberoasting, and silver and golden tickets. Recently, Enterprise Strategy Group (ESG by TechTarget) surveyed IT, cybersecurity, and application development professionals in North America who are responsible for or involved with identity security technology and processes. According to the ESG survey, 86% of respondents experienced multiple accounts or credential compromises the previous year.

Restraint: Privacy concerns in ISPM adoption

Extensive monitoring of identities, which is essential for detecting and preventing security threats, can lead to apprehensions among employees and stakeholders regarding their personal information and activities being monitored. It can create resistance to adopting robust identity security measures within organizations, as individuals may fear intrusion into their privacy or data misuse. Balancing the need for stringent security measures with respecting individual privacy rights becomes a critical challenge, requiring organizations to implement transparent policies, secure data handling practices, and clear communication to mitigate privacy concerns while ensuring adequate security measures are in place.

Opportunity: Advancements in AI and ML technologies

The adoption of ISPM solutions is significantly driven by advancements in artificial intelligence (AI) and machine learning (ML) technologies. These cutting-edge technologies enhance ISPM capabilities by enabling more sophisticated anomaly detection, predictive analytics, and automated responses to potential threats. AI and ML can quickly analyze vast amounts of data to identify patterns and deviations that may indicate security vulnerabilities or breaches, thus allowing for proactive and precise threat mitigation. This results in a more robust, adaptive, and intelligent security posture that can effectively respond to the evolving landscape of cyber threats.

Challenge: Integration with Legacy Systems

A challenge in adopting ISPM solutions is the integration with legacy systems. Many organizations rely on outdated, complex IT infrastructures not designed to support modern identity management technologies. Integrating ISPM solutions with these legacy systems can be technically challenging and resource-intensive, often requiring significant modifications or complete overhauls of existing processes. It will demand substantial investment in time and money and necessitate a workforce skilled in old and new technologies to ensure a seamless transition and ongoing management.

ISPM Market Ecosystem

By vertical, Healthcare & Life Sciences is expected to grow at the highest CAGR during the forecast period.

ISPM solutions are gaining traction within the Healthcare & Life Sciences vertical, driven by the increasing digitization of patient records and medical data and stringent regulatory requirements such as HIPAA and GDPR. Ongoing trends, such as the rise of telemedicine, the integration of IoT devices, and the growing reliance on cloud-based services, further exacerbate the need for robust identity security. ISPM solutions address these needs by continuously monitoring and automating identity and access control management, ensuring data integrity, compliance, and protection against sophisticated cyber threats targeting sensitive health information.

By organization size, the SME segment is expected to grow at the highest CAGR during the forecast period.

SMEs' adoption of ISPM solutions is driven by the increasing frequency and sophistication of cyber attacks targeting smaller businesses, which often lack robust security measures. Trends such as the growing reliance on remote work, cloud services, and digital transactions amplify the need for adequate identity security. ISPM solutions provide SMEs with affordable, scalable, and automated tools to monitor and manage identity risks, ensuring data protection, regulatory compliance, and business continuity without requiring extensive in-house cybersecurity expertise.

By region, North America accounts for the highest market size during the forecast period.

North America will lead the ISPM market during the forecast period. The US and Canada are expected to contribute substantially to the North American market. The presence of key players such as Cisco, Microsoft, Oracle, and Ping Identity makes it a leading region in the ISPM market. The increasing implementation of cloud-based, growing identity frauds, and other cyber threats contribute to the region's ISPM market growth.

Key Players

The key players in the ISPM market are Microsoft (US), Cisco (US), Oracle (US), Palo Alto Networks (US), Check Point (US), Okta (US), CrowdStrike (US), Trend Micro (Japan), CyberArk (US), Ping Identity (US), SailPoint (US), BeyondTrust (US), ManageEngine (US).

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Scope of the Report

The study categorizes the ISPM market into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

By Offering:

• Solutions

• Identity and Access Management (IAM) Integration
• Privileged Access Management (PAM) Integration
• Identity Analytics and Risk Intelligence

• Services

• Professional
• Managed

By Organization Size:

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By Deployment Mode:

• On-Premises
• Cloud

By Vertical:

• Banking, Financial Services, and Insurance (BFSI)
• Retail & eCommerce
• Government & Defense
• Gaming & Gambling
• IT & ITeS
• Telecom
• Energy & Utilities
• Education
• Healthcare & Life Sciences
• Other Verticals

By Region:

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Middle East and Africa
  • Middle East
    • GCC
      • UAE
      • KSA
      • Rest of GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

Recent Developments

• In May 2024, Palo Alto Networks and IBM forged a broad-reaching partnership to deliver AI-powered security solutions for customers. IBM planned to intensify innovation and investment in data security, identity, and access management for hybrid cloud and AI. The partnership was expected to enhance security operations, threat management, and DevSecOps capabilities.
• In February 2024, Microsoft collaborated with SAP to develop a solution to enable customers to migrate their identity management scenarios from SAP Identity Management (SAP IDM) to Microsoft Entra ID.
• In August 2023, Cisco acquired Oort. The Oort team's experience and technical capabilities were expected to help accelerate Cisco's path to delivering Identity Threat Detection and Response (ITDR) capabilities into its Extended Detection and Response (XDR) and Identity and Access Management solutions.

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