Market Overview:

The Physical Identity And Access Management Market is estimated to reach $789 billion by 2027, growing at a CAGR of 10.5% during the forecast period 2022-2027. Increasing investments in corporate IT security and rising security concerns related to data management are driving the demand for PIAM systems. 99% of IDSA’s respondents who have suffered an identity-related breach believe that these types of attacks are preventable by implementing PIAM solutions. This in turn increases the market size.

North America dominated the Physical Identity And Access Management Market with a 37.8% share of the overall market in 2022. The developed countries present in this region such as the U.S. and Canada are major targets of cyber-attacks and data breaches. According to the White House Council of Economic Advisers, the U.S. economy loses approximately US$57 billion to US$109 billion per year to harmful cyber activities. As a result, the demand for PIAM systems is very high in this region for IT security and data management, which drives market growth.

Physical Identity And Access Management Market Growth Drivers:

Surging demand for PIAM systems in the BFSI sector:

The demand for PIAM solutions in BFSI is increasing. This is because of the sensitive nature of the assets and data maintained for clients, where IT security is regarded as paramount. Furthermore, real-time management of identities and related areas dispersed across physical and logical security infrastructure has become critical. Therefore, creating efficiencies and automation in identity management through physical access and identity management may help in curbing such silos. Various regulations such as BASEL II and GLBA have become fixtures from a compliance standpoint and are influential in boosting the PIAM market in the BFSI sector.

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Increase in demand for cloud-based PIAM systems:

With the expansion of the cloud, the implementation and access to cloud-based PIAM services have become easier. PIAM hybrid deployments aid end-users in selecting PIAM technologies that can be implemented on-premises as well as technologies that can be accessed via the cloud. This market transformation, combined with profitable pricing alternatives such as a monthly subscription model and pay-per-usage, is providing PIAM service providers with an opportunity to develop in the market. In 2020, Okta launched Access Gateway. It enables customers to access on-premises applications easily with the help of the Okta Identity Cloud. This application ensures an 80% reduction in total cost and maintenance and 50% increased productivity.

Scope of Report:

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Market size available for years


Base year considered


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Forecast units

Value (USD)

Segments covered

Service Type, Deployment Type, Authentication Type, Organization Size, End-use Industry and Region.

Geographies covered

North America (the US, Canada and Mexico), Europe (Germany, the UK, France and the Rest of Europe), Asia-Pacific (China, Japan, India and the Rest of Asia-Pacific), South America (Brazil, Argentina and the Rest of South America) and The Middle East and Africa.

Companies covered

Key 10 players covered include AlertEnterprise, Okta, Micro Focus, Equifax INC, ALcor Tech, Experian PLC, Microsoft, AWS, IBM and Oracle.

Recent Developments:

  • In May 2022, Entra, a new product family of identity and access management solutions, was introduced by Microsoft. The family contains two new product categories, Cloud Infrastructure Entitlement Management (CIEM) and Decentralized Identity. It already had well-known solutions like Azure AD.
  • In March 2021, AlertEnterprise revealed the development of the Physical Security Industry's first policy-based access control cloud service in partnership with BioConnect. This in turn drives the PIAM market globally.

Physical Identity And Access Management Market: Competitive Landscape

The key companies profiled in the Physical Identity And Access Management Market are AlertEnterprise, Okta, Micro Focus, Equifax INC, ALcor Tech, Experian PLC, Microsoft, AWS, IBM and Oracle.

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