Cybersecurity implementer Technoware Solutions is expanding its operations to Europe.
The company, which is headquartered in Downers Grove, Illinois, is setting up an office in Ireland in its efforts to offer identity and access management (IAM) services to European countries.
Technoware has an existing presence in the United States, Canada and India.
Technoware Solutions is a cybersecurity implementation company specializing in IAM. Their range of services includes services for IAM, which include advisory, architecture, implementation, integration, support and operations.
There's a lot of room for growth in the IAM market, especially in Europe, according to KBV Research, which predicts the market will witness growth of 14.1% CAGR during the forecast period 2021 to 2027.
The research suggested that the increase in security breaches and cyberattacks and the emphasis on customer experience (CX) is likely to fuel the growth of the consumer IAM market. Furthermore, identity theft and fraud, as well as financial institutions' increased investment in IT infrastructure to protect consumer data, are expected to boost market development.
Due to security and regulatory compliance issues driven by General Data Protection Regulation (GDPR) in nations like Germany, Italy, Spain, and others, Europe is a hot market for these types of solutions and is expected to develop dramatically, KBV said. The need for IAM solutions to comply with rules in this region is increasing as small and medium-sized businesses grow. The rising popularity of BYOD and mobility trends has boosted demand for end-user device authentication, propelling the market forward. IAM solutions are in high demand in the European market because they help connect security policies and standards with business drivers.
Sanjay Kumar, CEO, Technoware Solutions, commented:
"The current expansion will allow more customers to utilize our services in Cybersecurity. As part of our worldwide expansion plan, we are analyzing a number of intriguing European and non-European locations that may become important to us. Identity and Access Management is a task that requires more from systems today than it did in the past. We are in a great position to serve our customers' IAM initiatives thanks to our robust worldwide Managed Service Portfolio."
Violet Kang, HR Director, Technoware Solutions, said:
"Our success is founded on a simple philosophy, Teamwork makes the Dream Work, which is also integral to our company's core principles. Today's market requires partners like us to assist organizations in reimagining and implementing their IAM solutions while considering their demands and industry advances. In a rapidly evolving, highly competitive technology industry, we bridge the cybersecurity skills gap by investing a lot in our employee's professional growth and development through advanced, continuous training and development programs."
