Identity and Access Management (IAM) Market Growth in the Italy
A surge in demand for IAM in Italy to secure the remote work culture in the country
A robust manufacturing base, a strong track record of innovation, and a growing digital economy characterize Italy’s business landscape. Italy has made significant investments in digital technologies in recent years, and the country’s digital economy is now one of the fastest-growing in Europe. The Italian government also supports entrepreneurship and innovation; several government programs are available to help businesses start and grow. While Italy’s business environment can be challenging due to complex bureaucracy and high labor costs, the country offers several attractive opportunities for businesses of all sizes. Italy is a gateway to the European market, and its consumers are known for their discerning tastes and high spending power.
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A combination of key factors fuels the growth of Identity and Access Management (IAM) in Italy. Firstly, the increased adoption of cloud computing is revolutionizing the way businesses operate by granting remote access to applications and data. This shift intensifies the demand for robust IAM solutions to secure and manage access to these cloud-based resources effectively. Moreover, cybersecurity is increasingly emphasized as cyberattacks grow in complexity and cost. In response to this evolving threat landscape, businesses invest in IAM to fortify their defenses and safeguard critical digital assets.
Additionally, strict data protection and security regulations, which many industries in Italy must adhere to, are compelling organizations to seek IAM solutions that facilitate compliance with these stringent requirements. These factors collectively drive the expansion of IAM in Italy as organizations prioritize security, compliance, and efficient access management. AI and ML in IAM can improve user behavior analytics, risk-based authentication, and identity fraud detection to protect Italian citizens’ and organizations’ identities and data.
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In 2022, the Ragnar Locker ransomware group targeted the Azienda Ospedaliera di Alessandria (AOAL) healthcare group in Italy. The group claimed to have stolen 1TB of data, including patients’ personal information, medical cards, and financial reports. The group threatened to release the data if AOAL did not pay a ransom. The attack reminded healthcare organizations of the ongoing threat ransomware poses to healthcare organizations. This kind of instance indicates an immediate need for stringent identity and access management solutions and services in Italy to prevent further financial losses to organizations and citizens falling prey to extortions.
KEY MARKET PLAYERS
The IAM market is led by some of the globally established players, such as Microsoft (US), Okta (US), IBM (US), Oracle (US), Salesforce (US), Ping Identity (US), HID Global (US), ForgeRock (US), CyberArk (US), Micro Focus (UK), and Thales (France). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.
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