An increase in adoption of role-based access control models across businesses to enhance productivity is expected to fuel the market growth in the future.
PORTLAND, PORTLAND, OR, UNITED STATES, October 23, 2023 /EINPresswire.com/ — 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.
Security is a major concern in today’s digital world. Role-based access control provides a mechanism for protecting digital information in an organization by assigning roles to the individual user and giving permissions to the assigned roles for accessing any resources. Most large organizations use role-based access control to provide their employees with varying levels of access based on their roles and responsibilities. This protects sensitive data and ensures employees can only access information and perform actions they need to do their jobs. Thus, because of this, role-based access control is increasingly popular amongst smaller organizations.
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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.
• 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 networks safe.
• Post-COVID-19 situation, companies also focused on emerging technology such as cloud computing technology, the internet of things, and machine learning-based solutions, among others, to provide role-based security that assigns permissions to end-users based on their role within the 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.
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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.
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.
On the basis of industry vertical, BFSI sector dominated the role-based access control market size in the 2022. Managing staff, assigning duties and keeping bank’s confidential records effectively is a big hurdle these days. In this case, role-based access control is the best way for controlling security of staffs’ duties in this industry. RBAC is the standard innovation and most important access control model and provides a great way to fulfil the access control needs. The main goal of this system is to apply role-based access control on banks to transit transaction processes safely and securely. Such a factor is expected to provide lucrative growth opportunities for the market in the coming years. However, the healthcare sector is expected to experience the fastest growth in the coming years. The increase in use of digital technologies by healthcare & life sciences organizations is driving role-based access control in the industry. The adoption of role-based access control helps healthcare companies to address the issues such as securities, regulations, financial factors, and standards that are in the path of the digital transformation process.
Region-wise, North America dominated the market share in 2022 for the role-based access control market. Adoption of role-based access control solution growing steadily to meet increasing demands from today’s businesses to enhance their business process and improve the customer experience is expected to fuel the role-based access control market forecast in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. Surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the role-based access control market in Asia-Pacific region.
Leading Market Players:
• Ping Identity
• Microsoft Corporation
• Oracle Corporation
• SolarWinds Worldwide, LLC
• JumpCloud Inc
• IBM Corporation
• BeyondTrust Corporation
• Amazon Web Services Inc.
The report analyzes these key players in the global role-based access control market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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