IoT Security Solution for IAM Market Expected to Soar to USD 9.7 Billion by 2032 Due to Rising Demand for Advanced Security Solutions

The comprehensive assessment from Dataintelo identifies the global IoT security solutions for identity and access management (IAM) market size standing at USD 2.5 billion in 2023, with a robust projection to reach an impressive USD 9.7 billion by 2032. This growth is primarily attributable to the surging demand for advanced security solutions globally, expected to perpetuate an expansive CAGR of 16.20% during 2024-2032.

Heightened attention toward fortifying cyber defenses is expected to catapult the demand for these solutions. In the current digital ecosystem, the escalating number of data breaches and cyber threats has amplified the need for advanced security solutions. As a result, organizations across various sectors are progressively embracing AI-integrated IoT security solutions for IAM.

The utilisation of artificial intelligence enhances the security framework with robust protection against looming cyber threats, thereby bolstering their appeal in various sectors. These AI-integrated IoT security solutions for IAM offer a cutting-edge approach to cyber defense, equipping organizations with the necessary tools to efficiently protect themselves from present and future cyber threats.

These figures from the Dataintelo report underscore the global stride toward prioritizing cyber security. As businesses progressively digitalize, there is a crucial necessity for robust security solutions that stay ahead of malicious entities. As such, the upsurge in IoT security solutions for IAM signifies a promising stride in the right direction towards a more secure digital future.

In the evolving digital landscape, advanced security solutions have become an essential investment for organizations globally. With the IoT security solution for IAM market poised for significant growth in the forthcoming years, organizations are revisiting their security strategies to ensure they keep up with the rapidly evolving cyber defense requirements

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/64747

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The IoT security solution for identity and access management (IAM)market has been segmented on the basis of 𝐓𝐲𝐩𝐞

● Software Platforms

● Services

𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭

● On-premise

● Cloud

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

● Healthcare

● IT & Telecom

● BFSI

● Automotive

● Retail & E-commerce

● Manufacturing

● Energy & Utilities

● Government & Defense

● Others

𝐑𝐞𝐠𝐢𝐨𝐧

● Asia Pacific

● North America

● Latin America

● Europe

● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

● AO Kaspersky Lab

● Arm Limited

● Check Point Software Technologies Ltd.

● 𝐂𝐢𝐬𝐜𝐨 𝐒𝐲𝐬𝐭𝐞𝐦𝐬, 𝐈𝐧𝐜.

● DigiCert, Inc.

● IBM Corporation

● Infineon Technologies AG

● Intel Corporation

● Thales

● Trend Micro Incorporated

Segment Analysis:

The IoT security solution for IAM market is segmented into various categories based on type, deployment, application, and key players. Under type, the market is split into Software Platforms and Services. The Software Platforms are the ones through which the IAM solutions are implemented, these platforms provide end-to-end security solutions to authenticate and verify the identities accessing the system or network. Services include various offerings like consultation, training, and maintenance which help businesses in implementing and managing the IoT security solutions.

The deployment types for the IAM solutions are On-premise and Cloud. The on-premise solutions are generally adopted by organizations that have high-security needs and want to have complete control over their system, while cloud-based solutions are preferred by organizations that seek flexibility, scalability, and cost-effectiveness. Application segments include sectors such as Healthcare, IT & Telecom, BFSI, Automotive, Retail & E-commerce, Manufacturing, Energy & Utilities, Government & Defence, and others. Each of these sectors have different security needs and therefore adopt the IAM solutions in different ways.

Regional Analysis:

The regional analysis covers the markets of Asia Pacific, North America, Latin America, Europe, Middle East & Africa. North America dominates the market for IoT security solutions for IAM because of the presence of major companies and the high adoption rate of security technology. Europe follows as the region has been fast to adopt these security measures to deal with the increasing rate of cyber-attacks. The Asia Pacific region is expected to have significant growth due to the rapid expansion of IT & telecom and BFSI sectors which are implementing IoT and require strong IAM solutions. Latin America and Middle East & Africa regions, though currently at a nascent stage, are projected to grow during the forecast period due to digital transformation initiatives taken by the governments.

Key Players in this market include AO Kaspersky Lab, Arm Limited, Check Point Software Technologies Ltd., Cisco Systems Inc., DigiCert Inc., IBM Corporation, Infineon Technologies AG, Intel Corporation, Thales, and Trend Micro Incorporated. These players offer a variety of IoT security solutions for IAM that cater to the various requirements of different sectors and industries

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/64747

Market Drivers:

1. Surge in Incidences of Cyber Attacks: With the increase in the number of cyber-attacks, there is a growing need for IoT security solutions. This has significantly driven the demand for IAM solutions.

2. Increase in IoT Devices: The number of IoT devices is increasing rapidly, thereby escalating the amount of data that needs to be secured. This has created a need for IAM solutions and thus, drives the market growth.

3. Stringent Regulatory Compliances: Governments around the globe are enforcing strict regulations to ensure data security and privacy, which further propels the demand for IoT security solutions.

4. Adoption of Cloud-based Services: The growing preference for cloud-based services due to their scalability, flexibility, and cost-effectiveness has led to an increased need for IoT security, thereby driving the IAM market.

5. Digital Transformation of Businesses: As businesses embrace digital transformation, the need for secure and efficient identity and access management solutions escalates, acting as a significant driver for this market.

Opportunities:

1. Growing Market of Smart Cities: With the rise of smart cities, there creates a vast scope for IoT security solutions, including IAM, as these cities will be heavily reliant on IoT devices.

2. Integration of AI and Machine Learning in IAM: The integration of AI and ML in identity and access management can offer advanced analytics, intelligent automation, and improved security, which can present significant opportunities for this market.

3. Demand from Small and Medium Enterprises: SMEs are increasingly recognizing the need for IAM solutions to protect their businesses against cyber threats, creating substantial growth opportunities for the market.

4. Expansion into Emerging Markets: Emerging markets like Asia-Pacific and Latin America with their booming economies and increasing adoption of IoT devices provide a lucrative opportunity for expansion.

5. Development of Next-Gen IoT Security Solutions: Continuous technological advancements provide opportunities for developing superior IoT security solutions, including IAM, thus widening the market potential

𝐘𝐨𝐮 𝐜𝐚𝐧 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐫𝐨𝐦: https://dataintelo.com/checkout/64747

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