PUBLISHER: Allied Market Research | PRODUCT CODE: 1344554
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344554
According to a new report published by Allied Market Research, titled, "Role-based Access Control Market," The role-based access control market was valued at $8.3 billion in 2022, and is estimated to reach $24.3 billion by 2032, growing at a CAGR of 11.8% from 2023 to 2032.
In addition, the RBAC data model, roles are based on several factors, including authorizations, responsibilities, and job competency. This model allows businesses to specify whether individuals are end-users, administrators, or expert users. Additionally, a user's access to computing resources may be restricted to certain operations, such as viewing, creating, or modifying files. However, network access restrictions are especially important for organizations with large numbers of employees and for organizations that allow access to third parties such as customers and suppliers, which can be difficult to monitor. Further, enterprises that rely on RBAC can better protect their sensitive data and applications.
Factors such as increase in adoption of remote work policy and leveraging integrations for smart automation are driving the growth of the market. In addition, the surge in adoption of role-based access control for better security compliance is fuelling the growth of the market. However, role-based access control has security issues such as lack of awareness regarding digital threat that may limits the market growth. Conversely, surge in adoption of cloud-based services is anticipated to provide numerous opportunities for the expansion of 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 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.
The market players operating in the role-based access control market are Ping Identity, ForgeRock, Microsoft Corporation, Oracle Corporation, SolarWinds Worldwide, LLC, Okta, JumpCloud Inc, IBM Corporation, BeyondTrust Corporation and Amazon Web Services Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the role-based access control market globally.