Cloud Identity and Access Management Software Market 2021 Analysis by Top Leading Players- IBM Corporation, Microsoft Corporation, Oracle Corporation, Okta Inc., Centrify Corporation

The Cloud Identity and Access Management Software Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The cloud identity and access management software market was valued at USD 2925.55 million in 2019, and it is expected to reach a value of USD 8127.70 million by 2025, at a CAGR of 18.77% over the forecast period (2020-2025).

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Competitive Landscape:

Top Companies: Cyberark Software Ltd, Broadcom Inc. (CA Technologies), IBM Corporation, Microsoft Corporation, Oracle Corporation, Okta Inc., Centrify Corporation, Sailpoint Technologies Holdings Inc., Auth0 Inc., Dell Technologies Inc.

Market Overview:

- Cloud identity and access management (IAM) technology is used to initiate, capture, record, and manage multiple user identities and their access permissions. All users are authenticated, authorized, and evaluated, according to the company policies and their respective roles.
- Cloud technology is changing the way businesses work, driven by the cost efficiencies and economies of scale. However, lack of proper security measures can undermine the benefits of cloud computing. This calls for a fundamental need for security solutions, including security for identity-related crimes, and hence, drives the market for cloud identity and access management.
- Among the types of cloud deployment being used in the market, public cloud accounted for the largest market share, owing to their increased adoption across different verticals. However, hybrid cloud deployment is expected to witness the highest CAGR over the forecast period, because of growing adoption among small- and medium-sized enterprises.

Scope of the Report

The cloud identity and access management market includes cloud-based identity and access management solutions, which include the software that are deployed on cloud and used for preventing identity threats in an enterprise. The end-user verticals include IT and telecommunication, healthcare, BFSI, media and entertainment, retail, and education.

Industry News and Updates:

- April 2018 - Cyberark announced that it has enhanced its cloud automation capabilities by incorporating CyberARK AMIs and AWS Cloud formation templates to provide advanced protection, especially in dynamic cloud environments.
- March 2018 - IBM teamed up with Cloudflare, a billion-dollar tech startup headquartered in San Francisco, to provide a new set of cyber security offerings to its cloud computing customers. The combination of these two giants may simplify things for end users.

Key Market Trends:

North America Occupies the Largest Market Share
- Most of the cloud advanced organizations in the world are from the North American region, along with the high number of startups (whose most preferred mode of deployment of a solution is cloud).
- Along with the highest adoption of cloud-based software services, it is also reported by the ITU (International Telecommunication Union) that North American region is very pro-active and committed toward cybersecurity.
- Moreover, benefits, like reduced CAPEX and faster rollouts of updates, are some of the major reason for the adoption of cloud-based identity management solutions in the North American region.
- Major adoption of cloud-based IAM in the region is seen in the BFSI sector, and it may continue to rise, as the credit card frauds and breaches accounted for a major share in total number of identity thefts, as reported by the US consumer sentinel network.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Cloud Identity and Access Management Software Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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