Press release
IoT IAM Market Trends, Size, Share, Outlook Report 2033
The Business Research Company presents an extensive market research report on the IoT IAM Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The iot iam market size has grown exponentially in recent years. It will grow from $7.47 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 29.9%. The growth in the historic period can be attributed to user authentication needs, data privacy regulations, rise of smart homes, consumer demand for convenience, identity theft concerns..
The iot iam market size is expected to see exponential growth in the next few years. It will grow to $27.46 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to biometric authentication adoption, user-centric identity models, personalized user experiences, regulatory compliance focus, enhancing device management, dynamic access controls.. Major trends in the forecast period include adoption of zero trust security models, integration with ai and machine learning, emergence of 5g networks, device lifecycle management, enhanced user authentication methods, edge computing and distributed iam.
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Key Market Players:
Major companies operating in the iot iam market report are International Business Machines Corporation, Amazon.com Inc., GMO GlobalSign Inc., Ping Identity Corporation, ForgeRock Inc., Broadcom Inc., Microsoft Corporation, Oracle Corporation, Micro Focus International plc, Cloud Security Alliance Inc., ARCON TechSolutions Pvt. Ltd., Telefonaktiebolaget LM Ericsson, Hitachi ID Systems Inc., KaaIoT Technologies LLC, Okta Inc., HID Global Corporation, CyberArk Software Ltd., OpenText Corporation, Cisco Systems Inc., Google LLC, Entrust Datacard Corporation, SailPoint Technologies Inc., Dell Technologies Inc., Optiv Security Inc., Quest Software Inc., Identity Fusion Inc., Thales Group, DigiCert Inc., Keyfactor Inc., RSA Security LLC, Centrify Corporation, SecureAuth Corporation, Auth0 Inc., Idaptive LLC, Akamai Technologies Inc., Thycotic Software LLC, BeyondTrust Corporation, Cyberinc Corp., Avatier Corporation, NetIQ Corporation
Market Drivers:
An increase in number of cyberattacks and data breach issues is expected to propel the IoT IAM market going forward. A cyberattack refers to an assault performed by cybercriminals to steal data and sensitive information by sending and hacking a computer system using malicious information. Data breaches refer to security violations in which sensitive information can be stolen from a computer system without prior permission of the owner of the system. Identity and access management are used at the current time to prevent any unauthorized access of information from the system of the company's employees' database. For instance, in September 2021, according to Digit, a Scotland-based technology media, and events company, the total number of IoT device cyberattacks was 1.5 million in 2021. Furthermore, in October 2021, according to Fortune, a US-based publishing company specializing in the publication of books, articles, and magazines, the total number of global data breach cases was 1,291 in 2021. Therefore, a rising number of cyberattacks and data breach cases are anticipated to fuel the growth of the IoT IAM market in the upcoming years.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/iot-iam-global-market-report
The iot iam market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types
3) By Deployment mode: Cloud, On-Premises
4) By Organization Size: Small and Mid-Sized Enterprises (SMEs), Large Enterprises
5) By Verticals: Banking, Finance services, and Insurance (BFSI), Automotive, Telecom, Healthcare, Retail and Consumer Goods, Energy and Utilities, Other Verticals
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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