Role-based Access Control Market
Factors such as growth in digitalization and increase in adoption of bring your own device (BYOD) are positively impacting the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, May 22, 2023 /EINPresswire.com/ — The growth of the global role-based access control market is driven by factors such as the increase in the adoption of remote work policy, leveraging integrations for smart automation, and the surge in the adoption of RBAC for better security compliance. However, a lack of awareness regarding digital threats hampers the growth of the market. Furthermore, the surge in adoption of cloud-based services is expected to provide lucrative growth opportunities for the market during the forecast period.
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Covid-19 scenario
• The COVID-19 pandemic boosted the growth of the role-based access control market, owing to the increasing trend of work from home model that compelled employers to use role-based access systems to keep corporate data and network safe.
• Post-COVID-19 situation, companies also focused on emerging technology such as cloud computing technology, internet of things, machine learning-based solutions, among others, to provide role-based security that assigns permissions to end-users based on their role within organization.
• During the COVID-19 pandemic, the importance of role-based access control increased in the workplace as it prevents unauthorized users from viewing or editing data and also eliminates the data clutter of unnecessary information.
According to the report, the role-based access control global generated $8,271.85 million in 2022, and is estimated to reach $24,273.61 million by 2032, witnessing a CAGR of 11.8% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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By enterprise size, the large enterprises segment accounted for more than three-fifths of the global role-based access control market share in 2022, and is expected to rule the boost by 2032. The small and medium-sized enterprises segment would also display the fastest CAGR of 13.3% throughout the forecast period, owing to increase in number of SMEs in developing IT infrastructures in Asia-Pacific including China, Japan, and India. The adoption of role-based access control is expected to increase to optimize the business capabilities of small & medium-sized enterprises.
By component, the solution segment held the major share in 2022, garnering around three-fifths of the global role-based access control market revenue, and is expected to rule the boost by 2032. The services segment would also showcase the fastest CAGR of 13.2% during the forecast period, owing to reduce the time and costs associated with optimizing systems in the initial phase of deployment. As services help to deploy and integrate distinct solutions in an enterprise ecosystem.
By region, North America garnered the highest share in 2022, holding nearly one-third of the global role-based access control market revenue. The Asia-Pacific region would also portray the fastest CAGR of 15.2% during the forecast period, and is projected to retain its dominance by 2032, owing to the developing countries such as China and India, have undergone a major investment proceeding for the development of business and IT infrastructure with an installation of smart technologies that leads to high demand for data and asset security solutions.
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By model type, the core RBAC segment contributed to the highest share in 2022, accounting more than two-fifths of the global role-based access control market revenue, and is expected to rule the boost by 2032. The constrained RBAC segment would also showcase the fastest CAGR of 13.7% throughout the forecast period, owing to ensure that failures of commission within an organization are caused only because of collusion among individuals. To minimize the likelihood of collusion, individuals of different skills or divergent interests are assigned to separate tasks required in the performance of a business function.
The key players that operate in the role-based access control market analysis Ping Identity, ForgeRock, Microsoft Corporation, Oracle Corporation, SolarWinds Worldwide, LLC, Okta, JumpCloud Inc, IBM Corporation, BeyondTrust Corporation and Amazon Web Services Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the role-based access control industry.
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