Role-based Access Control Market worth $15.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 7, 2023 /PRNewswire/ -- The Global Role-based Access Control Market size is expected to grow from USD 8.7 billion in 2022 to USD 15.5 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period, according to report by MarketsandMarkets™.
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By component, the services segment is expected to grow at a higher CAGR during the forecast period.
The services segment includes professional services. Professional services have been further classified into implementation & integration, training & consulting, and support & maintenance. Training & consulting services enable enterprises to choose the best possible solutions and services depending on the size, requirement, and usage, among others, of the company. Support & maintenance services provide enterprises with the technical, customer, and backup support to ensure uninterrupted operational activities. With the increasing adoption of role-based access control solutions across various industry verticals, the demand for supporting services is also increasing among organizations.
Large enterprises segment to hold significant market share in 2022.
Enterprises with more than 1,000 employees are considered large enterprises. Large enterprises are the early adopters of role-based access control solutions, as they utilize multiple applications which are prone to fraudulent attacks. RBAC makes it possible to systematically implement and manage a least privilege policy across a large geographically distributed organization. RBAC also enables large organizations to implement standardized enforcement policies, demonstrating the controls required for regulatory compliance and providing users with appropriate access to get their jobs done.
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North America held the largest market size in 2022.
North America/span> comprises the US and Canada. The region holds the largest market share of the global Role-based Access Control Market. The large share of the region can be mainly attributed to the growing incidents of fraud with the outbreak of COVID-19. The U.S. Federal Trade Commission (FTC) received more than 5.88 million fraud reports in 2021, a 19% increase from the last year. The changing nature of work and workforces, the adoption of cloud-based applications, and the need to meet compliance requirements are boosting the adoption of role-based access management solutions in the region.
The major players operating in the Role-based Access Control Market are Microsoft (US), AWS (US), SolarWinds (US), IBM (US), ManageEngine (US), Oracle (US), JumpCloud (US), Okta (US), ForgeRock (US) and Ping Identity (US), BeyondTrust (US), SailPoint(US), CyberArk (US), Broadcom (US), SecureAuth(US), Varonis (US), Edgile (US), Imprivata (US), and Bravura Security (Canada).
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