Role-based Access Control Market Expected to Reach $24.3 Billion by 2032—Allied Market Research

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. 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. 

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

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 outbreak of COVID-19 provided a range of new avenues for the market to grow over the forthcoming period. These novel opportunities include a surge in integration for cloud-based solutions and the growing adoption of advanced technologies in the role-based access control across different end-use industries. Role-based access control (RBAC) simplifies access management and makes a company’s distributed resources more secure. Identity-based policies are challenging to manage and make the theft of over-permissioned credentials more damaging. By comparison, assigning users and permissions to well-defined roles makes access policies more flexible and easier to manage. Furthermore, businesses and governments adopted role-based access control because of the Covid-19 pandemic for security reasons. 

In addition, several companies adapted strategies such as partnership, acquisition, product launch and product development to create diversity and attract a wide customer pool. For instance, in June 2021, JumpCloud inc., launched role-based access controls for multi-tenant management. JumpCloud’s directory platform already implements role-based access controls (RBAC), and with the latest release managed service providers (MSPs) can take advantage of the same granular access control from within the JumpCloud Multi-Tenant Portal (MTP), giving them an edge to maintain the safety, security, and compliance status of their customers without impacting operational efficiency. These factors create numerous opportunities for role-based access control industry.

Key Findings of the Study

• By component, the solution segment accounted for the largest role-based access control market share in 2022.
• By model type, the core RBAC segment accounted for the largest role-based access control market share in 2022.
• On the basis of enterprise size, the large enterprise segment accounted for the largest role-based access control market share in 2022.
• Depending on industry vertical, the BFSI sector accounted for the largest role-based access control market share in 2022.
• Region wise, North America generated the highest revenue in 2022.

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.