Role-based Access Control Market Expected to Reach USD 24.3 Billion by 2032 | Top Players Such as- Okta, AWS & ForgeRock

Growing requirement for information control as businesses expand functionality & data made available on internal & external networks driving the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, August 10, 2023/EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Role-based Access Control Market Expected to Reach USD 24.3 Billion by 2032 | Top Players Such as- Okta, AWS & ForgeRock." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global role-based access control market was valued at USD 8.3 billion in 2022, and is projected to reach USD 24.3 billion by 2032, growing at a CAGR of 11.8% from 2023 to 2032.

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The growth of the global role-based access control market is driven by factors such as the increase in adoption of remote work policy, leveraging integrations for smart automation, and the surge in adoption of RBAC for better security compliance. Surge in adoption of cloud-based services is expected to provide lucrative growth opportunities for the market during the forecast period.

The role-based access control market is segmented into component, model type, enterprise size, industry vertical, and region. By component, it is bifurcated into solution and services. By model type, it is divided into core RBAC, hierarchical RBAC and constrained RBAC. By enterprise size, the market is segregated into small & medium-sized enterprises (SMEs) and large enterprises. By industry vertical, the market is classified into BFSI, IT & telecom, government & defense, retail & consumer goods, education, healthcare, energy and utilities and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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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 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.

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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.

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.

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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.

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