The rising trend of bringing your own device (BYOD) is expected to drive the global identity access management market. Fortune Business Insights shared this information in a report, titled "Identity Access Management Market Size, Share and Global Trends By Component (Service & Deployment), By Industry Vertical (Transportation & Logistics, Retail, Media & Entertainment, and others) and Geography Forecast till 2025." Identity access management or an IAM system offers a framework for businesses to effectively manage and access user identities via an automated system. Furthermore, IAM involves functions such as character creation for different systems, robust authentication service, and securely exchange data and information. Installing an IAM system allows companies to manage users with respect to their identities and access permission.