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At 21.50% CAGR Cloud IAM Market to Reach US$ 13.42 Billion During 2022-2027 | Industry Forecast, Growth rate, Share, Trends
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What is Cloud identity and access management (IAM) ?
Cloud identity and access management (IAM) represent a cloud-based service that controls the permission and access of users and cloud resources. It entails password and access management, single sign-on, user provisioning, directory services, audit governance, compliance management, etc. Cloud IAM is widely utilized by businesses and organizations to authenticate, authorize, and evaluate users according to set policies and roles. It enhances security, protects data, reduces risk exposure, prevents cyber-attacks, etc.
Cloud IAM is an easy-to-use framework that promotes user satisfaction, improves productivity, and minimizes capital expenditure. It finds widespread applications across numerous sectors, including retail, education, healthcare, telecommunication, media, information technology (IT), etc.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Cloud IAM Market Trends and Drivers:
The rising demand for these services across enterprises to protect systems from unauthorized access and misuse, authenticate users, and track user activities is among the key factors stimulating the cloud IAM market.
Apart from this, the extensive adoption of blockchain technology in cloud IAM to acquire a decentralized and secured process of verification and storage of identity credentials to prevent fraud and identity theft is also propelling the global market. Furthermore, the emerging trends of bring-your-own-device (BYOD) and choose-your-own-device (CYOD) are acting as significant growth-inducing factors.
In addition to this, the elevating adoption of Internet of Things (IoT)-enabled devices and the implementation of stringent cyber-security regulations by government bodies are expected to positively influence the cloud IAM market over the forecasted years.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Service:
• User Provisioning
• Single Sign-On
• Access Management
• Multi-Factor Authentication
• Password Management
• Directory Services
• Governance and Compliance Management
Breakup by Deployment Mode:
• Public
• Hybrid
• Private
Breakup by Enterprise Size:
• Small and Medium-sized Enterprises
• Large Enterprises
Breakup by Industry Vertical:
• BFSI
• IT and Telecommunication
• Healthcare
• Media and Entertainment
• Retail
• Education
• Others
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are
• Dell Technologies Inc.
• Google LLC
• International Business Machines Corporation
• Microsoft Corporation
• Okta Inc.
• OneLogin Inc.
• Oracle Corporation
• Ping Identity Corporation
• Sailpoint Technologies Holdings Inc.
• Ubisecure Inc
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