Cybersecurity Demands Propel Role-Based Access Control Market to Soar Beyond USD 15 Billion by 2027
DUBLIN, Sept. 29, 2023 /PRNewswire/ -- The "Role-based Access Control Market by Component (Solutions and Services, Model Type, Organization Size, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The role-based access control market is expected to grow significantly in the coming years. With stringent regulations like HIPAA and PCI DSS becoming ever more important, the need for role-based access control systems to enforce these regulations is more crucial than ever. Implementation and integration services will be critical in ensuring organizations optimize their network performance and reliability in this dynamic market. Having robust role-based access control systems in place is not just about compliance, it's about safeguarding operational efficiency, maintaining trust with customers, and protecting your business.
Cybersecurity remains a critical concern for government and defense entities, especially as they are often targets for cyberattacks. Ensuring secure and controlled access to sensitive information is imperative. Role-based access control systems provide an additional layer of protection, mitigating the risk of data breaches and safeguarding the integrity of an organization's infrastructure. Meanwhile, in the Middle East and Africa, the ever-evolving IT and information security landscape is urging organizations to enhance their cybersecurity measures. The adoption of role-based access controls in this region is growing rapidly, making this market an excellent opportunity for growth in the coming years.
The global role-based access control market is on a trajectory for substantial growth, from USD 8.7 billion in 2022 to a predicted USD 15.5 billion by 2027, representing a CAGR of 12.2%.
Two key regulatory frameworks, HIPAA and PCI DSS, are instrumental in driving demand. Their stringent measures make the integration of role-based access control systems indispensable for organizations seeking compliance. But it isn't just about adherence to regulations. Organizations recognize the intrinsic value in these systems as they enhance operational efficiency, foster customer trust, and fortify businesses against potential cyber threats.
Government and defense sectors, due to their attractive cache of sensitive information, hav become prime targets for cyber criminals. As such, these sectors are emphasizing the need for secure and controlled access to data, making role-based access control systems a priority. In the wake of this, the government and defense vertical is anticipated to hold the second-largest market share in 2022.
The Middle East and Africa are spotlight regions to watch. As technology adoption surges, with AI, intelligent cloud, and blockchain taking the lead, there's a parallel rise in the urgency to fortify cybersecurity measures. The evolving IT landscape, marked by significant cyber threats and security breaches, only underscores the importance of digital identity and access management. It's expected that the Middle East & Africa region will experience the second-highest CAGR during the forecast period.
Key Topics Covered:
Market Overview and Industry Trends
Case Study Analysis
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