Cloud Identity Access Management (IAM) to Propel the Growth of the Market by 2020

Cloud Identity Access Management (IAM) Market is expected to garner $2.8 Billion By 2020, registering a CAGR of 26.2% during the forecast period 2015 - 2020. Identity access management (IAM) is a security framework which ensures secure access to end users across multiple applications. Cloud IAM service provides secure and identity-based access to various industry verticals such as BFSI, IT & telecom, healthcare, media & entertainment, retail, education, and others.

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Identity access management is a business security framework that manages digital identities, both inside and outside an enterprise. Varied technological environments, increasing cyber-attacks, strict regulatory compliances, and increasing digital identities across organizations are propelling the need of IAM services for information security. Integration of IAM with cloud is gaining popularity owing to its low cost and enhanced security.

Among the key end use verticals, IT & telecom was the largest contributor, which accounted for around 25% share in 2014. Stringent government regulations and security standards along with the increasing use of BYOD are the key factors supplementing the adoption of IAM services in IT & telecom sector. Private cloud dominated the overall cloud IAM market by deployment type, and constituted for around 50% share in 2014, owing to its enhanced data security compared to public cloud and hybrid cloud. However, hybrid cloud would witness highest CAGR of 30.4% during the forecast period owing to its ability to manage IAM services in house as well as on cloud.

North America is the highest revenue generating region in the global cloud IAM market, followed by Europe and Asia-Pacific. The Asia-Pacific would exhibit the fastest growth, registering a CAGR of 29.3% during the forecast period. The growth of Asia-Pacific is supplemented by factors such as development in enterprise IT infrastructure and wide adoption of cloud by SMEs in the region.

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Key Finding of Cloud IAM Market
• User provisioning service would dominate the overall service segment over the analysis period
• Multi factor authentication is expected to grow at the highest CAGR of 30.5% from 2015-2020 due to burgeoning need for strong authentication
• Key sectors such as BFSI, IT & telecom and retail would witness highest adoption of cloud IAM services over the forecast period (2015 - 2020)
• Private cloud dominated the overall cloud IAM market owing to the enhanced security risks compared to public cloud and hybrid cloud
• North America was the highest revenue generating region, constituting nearly 41% of the total market revenue in 2014

SailPoint Technologies, Inc., EMC Corporation, CA Technologies, Oracle Corporation, Hewlett-Packard Company, Ping Identity Corporation, Dell, Inc., and Intel Corporation are some of the prominent players in this market. The leading market players have adopted acquisition as their key strategy to strengthen their technical expertise and to increase their market foothold.

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