Cloud Identity Access Management (IAM) Market Strong Extension In Revenue Continues | IBM Corporation, Microsoft Corporation, SailPoint Technologies, EMC Corporation

Identity and access management (IAM) is a security framework which ensures secure access to end users across multiple applications. At present, integration of IAM with cloud is gaining pace owing to its low cost and enhanced security. Cloud identity and access management (IAM) is an approach to revamp the traditional IT security environment by offering IAM solutions over the cloud. Cloud IAM helps large as well as small organizations to secure their IT infrastructure and patents & intellectual properties (IP) in a cost-effective manner.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Cloud IAM offers various services such as user provisioning, access management, multi-factor authentication, directory services, single sign-on (SSO), governance & compliance management and password management. Several organizations have adopted cloud IAM to improve customer engagement, acquisition and retention. A well-designed cloud IAM system reduces the cost incurred due to cyber-attacks by enabling better information sharing and enhanced data privacy. In addition, cloud IAM services reduce cyber-attacks and data breaches by implementing various IAM services, such as single sign-on (SSO) and user provisioning and others.

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Renowned market players have adopted acquisition as their key strategy to strengthen their technical expertise and to enhance their market foothold. For instance, in 2015, EMC Corporation acquired Virtustream, a cloud computing management software provider, to manage its cloud service business and to enhance its hybrid cloud product portfolio. In 2014, IBM acquired two IAM firms, Lighthouse Security Group and CrossIdeas, to expand and enhance its identity and access management (IAM) offerings.

The cost effectiveness of the cloud IAM service compared to the traditional IAM services is one of the major factors driving the adoption of cloud IAM. Enterprises are adopting cloud applications at a large scale owing to the fast dropping rates of bandwidth and storage. It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud IAM services.

The accruing costs on organizations due to increasing complexities of cyber-attacks and the costs involved in detection and recovery of losses have fostered the adoption of cloud IAM across various organizations. In addition, the increasing popularity of Bring Your Own Device (BYOD) and various mobility trends in organizations have augmented the end user device authentication security. Therefore, increasing number and complexity of cyber-attacks, BYOD policies adopted by various organizations, increasing adoption of cloud services, centralized security and management and government compliances, are the key factors driving the growth of cloud IAM market.

The cloud IAM market is segmented based on deployment type, services, industry verticals and geography. The services segment is categorized into user provisioning, access management, multi factor authentication, single sign-on, directory services, password management, and governance & compliance management. User provisioning was the most widely adopted cloud IAM service, which accounted for a share of around 40% in 2014.

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The cloud IAM is segmented based on different industry verticals such as BFSI, IT and telecommunication, healthcare, media & entertainment, retail, education and others. BFSI, IT & telecom and retail witnessed highest adoption of cloud IAM services over the forecast period (2015 - 2020). Based on the deployment type, the market is further categorized into private cloud, public cloud and hybrid cloud. Of the three, private cloud dominated the overall cloud IAM market owing to the enhanced security risks compared to public cloud and hybrid cloud. The market has been analyzed on the basis of regions, which include North America, Europe, Asia-Pacific and LAMEA.

POTENTIAL BENEFITS FOR STAKEHOLDERS:

Comprehensive analysis of current and future market trends in the global cloud IAM market is outlined in the report
The report provides an in-depth analysis of cloud IAM market to identify lucrative investment pockets in the market
The report identifies key drivers, opportunities and restraints that shape the market and provide an impact analysis of these factors over the forecast period
Porter's Five Forces analysis highlights the potency of buyers and suppliers participating in this market. This would offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier and buyer network.
SWOT analysis of key market players highlight the essential strengths and potential opportunities in the market

KEY PLAYERS

IBM Corporation
Microsoft Corporation
SailPoint Technologies, Inc.
EMC Corporation
CA Technologies
Intel Corporation
Dell, Inc.
Oracle Corporation
Hewlett-Packard Company

CLOUD IDENTITY AND ACCESS MANAGEMENT (IAM) MARKET SEGMENTATION

The market is segmented on the basis of deployment type, services, industry vertical, and geography.

MARKET BY SERVICES

User Provisioning
Access Management
Multi Factor Authentication
Single Sign-on
Directory Services
Password Management
Governance & Compliance Management

?MARKET BY INDUSTRY VERTICALS

BFSI
IT & Telecommunication
Healthcare
Media & Entertainment
Education
Retail
Others (Energy, Oil and Gas, Public Sector and Utilities)

?MARKET BY DEPLOYMENT TYPE

Private Cloud
Public Cloud
Hybrid Cloud

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

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