An expert´s take on what factors are leading to the rise of Identity and Access Management (IAM) in IT organizations and its future in the Indian market.
As work environments become more and more complicated, the need to keep employee access neat and tidy has increased manifold. Enter IAM, a system that defines and manages the roles and access privileges of individual network users and the circumstances that grant or deny users those privileges.
Especially, since the pandemic, the requirement for IAM technology has amped up exponentially, because working from home (WFH) has increased the need for employees to access enterprise applications and vital resources of their company remotely.
Read more: Ilantus Technologies
To find out what makes the IAM industry tick in the Indian IT market, The Tech Panda spoke to Binod Singh, Chairman and President of Ilantus Technologies. With over 30 years of experience in the Information Security industry, Singh is one of the pioneers of the IAM domain. He has worked with various organizations across the globe, shaping cyber-security strategies and building breakthrough technologies.
Increased visibility, continuous access control, and a proactive approach to security over the traditional reactive approach is the need of the hour
With this paradigm shift to WFH, says Singh, the threat landscape has extended, as a result of which, cybersecurity needs to extend beyond traditional firewalls, leading to a heightened demand for IAM solutions.
“Increased visibility, continuous access control, and a proactive approach to security over the traditional reactive approach is the need of the hour. Most importantly, organizations need solutions that simplify their cybersecurity woes. They need Converged IAM solutions enabled with access management, identity governance and administration, privileged access management, and intelligent risk engines,” he says.
He informs that the current Indian IAM market size is in the range of US$50-70 million, and over the next three-four years, the CAGR (Compounded Annual Growth Rate) for IAM is likely to be in the range of 300-800%. He expects that the numbers are going to continue to grow and expand.
“The technologies of today are evolving, and practices are changing due to the digital shift. Compliance to federal regulations is another aspect that is driving the growth of the IAM market. As a result, the numbers are only going to increase to meet these demands. Smarter security that comes with IAM is the future,” he predicts.
Ilantus Technologies is a leader in the IAM domain, backed by over two decades of extensive experience and deep insight gained from thousands of IAM implementations for some of the biggest brands in the world including Fortune 500 companies. Recognized by leading industry analysts Gartner and KuppingerCole, Ilantus’ solutions are known for innovation and simplicity.
Factors Giving Rise to Need for IAM
World over, Ilantus Technologies rising awareness about compliance management across industries, proliferation of Bring Your Own Devices (BYOD), a rise in security concerns among organizations, and the demand for mobility solutions, has given rise to the need for IAM.
“Identity has become the new perimeter. With users from different geographies logging in from different devices and accessing cloud, hybrid, and on-premise applications at the same time, the need for an identity and access infrastructure layer is being hugely felt,” says Singh.
With users from different geographies logging in from different devices and accessing cloud, hybrid, and on-premise applications at the same time, the need for an identity and access infrastructure layer is being hugely felt
He adds that this can be put in place only through an appropriate IAM technology.
“Preferably a Converged IAM solution that can ensure that all accesses of information within an organization are safe and secure, adhering to the stringent guidelines of zero trust.
IAM Adoption in India
Traditionally, IAM has always been a good-to-have solution for organizations rather than being categorized as a must-have solution. Today, says Singh, India has suddenly woken up to the need for higher levels of security.
“IAM being the centre of cybersecurity, there is an exponential surge in its requirement. The Indian BFSI sector in particular is already witnessing an enormous rise in IAM adoption – largely due to RBI guidelines that require IAM solutions to be implemented by all BFSI institutions with mandatory compliance,” he explains.
IAM being the centre of cybersecurity, there is an exponential surge in its requirement
Over the next 3-4 years, the CAGR for IAM is likely to be in the range of 300-800%.
“This percentage may seem quite high, but given the low base in 2019, these numbers are right, as argued by leading industry analysts,” he adds.
He also informs that the biggest change leading to accelerated adoption of IAM in India is due to organizations moving to cloud.
“This extends the threat landscape and exposure to risks and having an identity centric approach and strategy becomes essential. The essence of zero trust implementation, a must for organizations moving into cloud, is possible only if an identity and access infrastructure layer is provided,” he says.
Read more: Ilantus Technologies
Covid-19 has added to the challenges as working remotely further enhances security concerns.
“Since WFH culture is likely to continue beyond Covid, these requirements would continue to be there in the future,” he concludes.
With IAM solutions becoming a need in today´s work environments, the future looks like a neatly accessible infrastructure to employees and customers, making life easier for organizations.