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What is the Growth of IoT IAM Market in next 5 years?

07-07-2022 09:43 AM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

IoT IAM Market Trends

IoT IAM Market Trends

According to a new market research report "IoT IAM Market by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets™, the global IoT IAM market size is expected to grow from USD 5.6 billion in 2022 to USD 14.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67542546

The global IoT IAM market is gaining traction due to increase in frequency of cybersecurity breaches and cyberattacks.

Browse in-depth TOC on "IoT IAM Market"
383 Tables
46 Figures
297 Pages

The BFSI vertical is expected to lead the IoT IAM market in 2022.

IoT has changed the working of the banking and financial services sector. As the banking industry deals with massive data transfer, collecting, and analysis of data, the IoT has a huge influence on it which advantages both the banking services and customers. IoT helps a bank in every facet, starting from a rise in revenue to enhancing customer services. The BFSI industry always prefers IAM products and services that could safeguard the industry's employees, customers, assets, offices, branches, and operations; this vertical therefore holds a significant percentage of the total IoT IAM market. As the BFSI industry comes up with new financial products and services to upgrade, banks need a multi-layered security approach to deliver authenticated and authorized experience to customers.

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Network security segment is expected to grow with the fastest growth rate during the forecast period.

Network security protects the network and data from infringements, interruptions, and other threats. It comprises of multiple elements such as security software, hardware, and appliances that work together to provide layers of complete network security. Enterprises opt for IAM solutions as they improve protection and user experience and facilitate better business outcomes. IAM is a structure of policies, processes, and technologies that facilitate businesses to manage digital identities and control user access to critical corporate information. The increase in the use of smartphones, laptops, and mobile devices results in network complexity within businesses, which requires securing these devices.

Asia Pacific likely to emerge as the fastest-growing segment during the forecast period.

The growth of the IoT IAM market in the Asia Pacific is highly driven by the rapid digitalization of enterprises across the region. The region comprises emerging economies such as India, Japan, China, and Australia. Factors such as continual growth in the mobile workforce, increasing complexity of businesses, unregulated nature of the internet, and growth in adopting BYOD and IoT applications create strong security requirements to secure business applications and devices.

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/iot-iam-market-67542546.html

Market Players

The major vendors covered in the IoT IAM market include AWS (US), Thales (France), IBM (US), Microsoft (US), Broadcom (US), Open Text (Canada), Cisco Systems (US), Ericsson (Sweden), Google (US), Micro Focus (UK), Ping Identity (US), Oracle (US), Entrust (US), HID Global (US), DigiCert (US), Okta (US), SailPoint (US), Dell EMC (US), Optiv Security (US), CyberArk (US), ForgeRock (US), One Identity (US), Verimatrix (France), KaaIoT (US), Identity Fusion (US), Keyfactor (US), GlobalSign (US), Blue Ridge (US), Sectigo (US), and FusionAuth (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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