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Role-Based Access Control Market Trends and Forecasts Shaping the Future

Role-based Access Control Market

Surge in the adoption of cloud-based services is expected to provide lucrative growth opportunities for the market during the forecast period.

PORTLAND, PORTLAND, OR, UNITED STATES, April 22, 2024 /EINPresswire.com/ — 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.

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.

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Thus, because of this, role-based access control is increasingly popular amongst smaller organizations. This factor is expected to provide lucrative opportunities for market growth during the forecast period. Furthermore, an increase in investments in advanced technologies such as AI, ML, cloud-based services and IoT is expected to provide lucrative growth opportunities for the market during the forecast period.

The Role-Based Access Control (RBAC) market has steadily grown due to increasing concerns about data security and compliance requirements across various industries. RBAC solutions systematically restrict system access to authorized users based on their roles within an organization. This approach enhances security by ensuring that users only have access to the resources necessary for their roles, reducing the risk of unauthorized access and data breaches.

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. However, lack of awareness regarding digital threat 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.

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Based on 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 the 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 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 issues such as securities, regulations, financial factors, and standards that are in the path of the digital transformation process.

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.

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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.

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.

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. These players have adopted various strategies to increase their market penetration and strengthen their position in the role-based access control industry.

1. Rising Security Concerns: With the proliferation of cyber threats and data breaches, organizations are prioritizing security measures to safeguard their sensitive information. RBAC offers a robust security framework by enforcing access controls based on predefined roles and permissions.

2. Compliance Requirements: Regulatory mandates such as GDPR, HIPAA, and PCI-DSS necessitate stringent access control measures to protect confidential data. RBAC solutions help organizations achieve compliance by implementing access policies that align with regulatory standards.

3. Adoption of Cloud Services: The increasing adoption of cloud-based applications and services has expanded the attack surface for cyber threats. RBAC solutions are crucial for managing access to cloud resources and ensuring secure authentication and authorization mechanisms.

4. Enterprise Mobility: The growing trend of remote work and mobile device usage has heightened the need for secure access management. RBAC systems enable organizations to enforce access controls across diverse endpoints, including mobile devices, to prevent unauthorized access to corporate networks and data.

5. Integration with Identity and Access Management (IAM) Solutions: RBAC solutions are often integrated with IAM platforms to provide comprehensive access management capabilities. This integration streamlines identity lifecycle management, authentication, and access governance processes within organizations.

6. Emergence of AI and Automation: Advanced RBAC solutions leverage artificial intelligence and machine learning algorithms to analyze user behavior and detect anomalies indicative of potential security threats. Automation capabilities streamline access provisioning and deprovisioning workflows, enhancing operational efficiency and security posture.

7. Focus on Zero Trust Security: The Zero Trust security model, which assumes that no user or device should be trusted by default, emphasizes the importance of granular access controls. RBAC plays a vital role in implementing Zero Trust principles by enforcing least privilege access and continuously evaluating user permissions based on dynamic risk assessments.

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Originally published at https://www.einpresswire.com/article/705494337/role-based-access-control-market-trends-and-forecasts-shaping-the-future-2023-2032

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