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Identity and Access Management spending to increase

Out of 200 businesses in Europe that were polled recently, 93 per cent said they will either maintain, or increase their spending in identity and access management (IAM) in the next three years.

The results of this poll, that asked executives in banking, insurance, manufacturing, retail, services, telecoms, transport and public sectors, were released in a whitepaper entitled "Identity and Access Management in the Digital Age”, released by market research and strategy company Pierre Audoin Consultants (PAC) in collaboration with KuppingerCole.

It was also noticed in the report that smaller companies (5,000 employees or less), are matching those bigger ones (10,000 employees or more), in terms of digital transformation efforts.

However, companies of both sizes have the same troubles – 48 per cent of them said threat or breach mitigation was very important. More important, in fact, than customer experience, cost savings or efficiencies.

Almost half (46 per cent) pointed the finger at the lack of training and the understanding of IAM policies that could cause the next IAM-related breach. Insider threats are also a big issue.

“Our study has revealed an encouraging awareness of the need for digital transformation of business by our representative sample of senior information and security executives across Europe. They are aware of the business benefits that digital transformation presents,” said Paul Fisher, Research Director at PAC.

“They are also acutely aware that IAM solutions will need to step up to the plate if new identities from consumers, and even those of things and sensors, are to be securely managed.

Image Credit: Kirill Wright / Shutterstock

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.