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on March 30, 2024
Global Physical Identity and Access Management Market Projected to Reach Nearly USD 2.6 Billion by 2030, Driven by Growing Security Concerns
The global physical identity and access management (PIAM) market is expected to reach nearly USD 2.6 billion (USD 2,610.52 million) by 2030, growing at a compound annual growth rate (CAGR) of 14.2% from 2024, according to a new report by Maximize Market Research.
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Market Overview
The increasing need for enhanced security measures across various industries, including healthcare, finance, and government, is fueling the growth of the PIAM market. This market offers solutions for managing physical access to facilities and resources, ensuring only authorized individuals gain entry.
Questions Answered in the Report
- What is the market potential for physical identity and access management?
- Which region will be a key player in the coming years?
- What segment is poised for rapid growth?
- What are the future growth opportunities in the PIAM market?
- What challenges will the PIAM market face in the future?
- Who are the leading players in the PIAM market?
- What are the key trends impacting the market?
Segmentation
The PIAM market is segmented by type, organization size, and end-user industry.
- By Type:
- Software: This segment dominates the market due to its flexibility and scalability, catering to diverse organizational needs.
- Services: Consulting, integration, and support services are crucial for successful implementation and ongoing maintenance of PIAM systems.
- By Organization Size:
- Small and Medium Enterprises (SMEs): This segment is increasingly adopting PIAM solutions as they recognize the importance of access control.
- Large Enterprises: Complex access control requirements in large organizations drive the demand for advanced PIAM solutions.
- By End-User Industry:
- BFSI (Banking, Financial Services and Insurance)
- Aerospace and Defense
- Government and Legal
- IT and Telecom
- Healthcare
- Education
- Energy and Utilities
- Other End-User Industries
Market Players
The report identifies leading players in the global PIAM market, including:
- North America: HID Global, Genetec, Quantum Secure, Identiv, AMAG Technology, LenelS2, Brivo, Kastle Systems, Johnson Controls, Honeywell
- Europe and Middle East Africa: Tyco International, Siemens, Allegion, Axis Communications, Bosch Security Systems
Regional Analysis
The report examines the market share and growth rate of each region, including North America, Europe, Asia Pacific, the Middle East & Africa, and South America. A PEST analysis for each region explores the political, economic, social, and technological factors influencing the PIAM market.
Impact of COVID-19 on the Market
The report analyzes the impact of COVID-19 on the PIAM market, including disruptions to production and demand, supply chain challenges, and the overall economic impact. It also explores potential future opportunities arising from the increased focus on remote work and access control post-pandemic.
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