Global Cloud Identity and Access Management Market Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2030

According to a new market research report published by Inkwood Research, the Global Cloud Identity and Access Management Market is projected to grow at a CAGR of 17.97% during the forecasting years of 2020-2028.
''Browse 53 Market Data Tables and 51 Figures spread over 187 Pages, along with an in-depth TOC on the Global Cloud Identity and Access Management Market Forecast 2020-2028.''

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Cloud computing is a technology that delivers different services through the internet or intranet. These resources include tools and applications like data storage, databases, servers, networking, and software. It is a network that enables the sharing of a program or an application running on a server across various devices such as smartphones, laptops, and personal computers. Cloud computing is a trending option for people and businesses for various reasons, such as cost savings, speed, increased productivity, and efficiency, performance, and security. Large organizations use private clouds to ensure reliability and security, and smaller organizations require public cloud services to save costs. Identity and access management (IAM) systems administer individual network user access across an enterprise and ensure compliance with government regulations and corporate policies. IAM services are provided by cloud providers while accessing their cloud services.

Popular Trend of BYOD in Companies
The employees are able to connect to the enterprise network through their mobiles, laptops, or tablet PCs due to the proliferation of mobiles and tablets. The employees like to use their own devices instead of using old desktops in the office. Bring Your Own Device (BYOD) strategy can hugely benefit a business as an effective tool to increase overall workplace productivity, and also track individual productivity. Since thousands of users try to access many applications for a BYOD-enabled network, deploying the smart IAM system becomes a necessity to track the activities of the users. As per a survey conducted by IBM India, 57% of enterprises are aiming to invest in BYOD and mobile technology.
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IT & Telecommunication Hold the Largest Market Share in the End-User Segment
The diverse ecosystem of IT and telecommunication is more prone to data breaches, and data thefts as they are highly dependent on their infrastructure, network, and databases to carry out any operation. In the IT industry, the growing number of employees has led to the database of personal details being maintained over the cloud-based storage. The complex algorithm of digital identities and access governance within the telecom industry is driving the demand for IAM solutions. Additionally, an increase in security expenditure in IT organizations is expected to augment cloud-based IAM adoption. Major telecom organizations are becoming technology providers by creating mobile applications for storing data of cloud platforms and the use of VoIP calls.

Asia Pacific Speculated to Record the Highest CAGR
The highest growth rate of the Asia Pacific region during the projected period is due to the rising demand for cloud identity and access management in various sectors. The growth is driven by increasing government expenditure, rapid industrialization, and rising demand from different applications. The growing use of mobile payment transactions, along with weak passwords, has increased the need for sophisticated access management systems. In addition, the Indian government's recent step towards demonetization has led to a revolutionary change in the banking sector.
The market comprises of several global and regional players. The characteristics of the market are growing levels of product proliferation, moderate-high product differentiation, and intense competition. Some of the leading players holding global market share are Amazon, Hewett Packet, CA Technologies, Yahoo, and Dell, among others.

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