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Cloud Identity and Access Management Market: An Insight On the Important Factors and Trends Influencing the Market
Cloud identity and access management (IAM) is a solution that enables the management of electronic or digital identities across business processes. Cloud IAM comprises organizational policies for managing digital identity and supporting technologies required for identity and access management. Within these policies all users are authorized, authenticated, and evaluated. Additionally, these access policies are also used to allocate users and service access to the resources. Cloud identity and access management offers single access control interface for all cloud platform services. Cloud IAM is often used to record, capture, and manage user identities and access permissions.Furthermore, cloud IAM also offers centralized identity and access, single sign-on, application on-boarding processes and security services across cloud-based platforms. Cloud IAM providers offer various functionalities such as identity synchronization and provisioning, customer identity management, federation service, single sign-on (SSO) capabilities and others such as integration features and application connectors modules. Similarly, cloud IAM providers are delivering database integrated solutions in order to effectively and efficiently map users across applications, devices, and networks.
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Rising adoption of cloud-based platforms for software development across applications is primarily driving the growth of the cloud IAM market. Cloud IAM enables enterprises to access online resources securely as well as protects digital interactions of partners, customers, and employees. Moreover, a large number of small, medium and large enterprises are utilizing software as a service models across software applications which are supplementing the growth of the cloud IAM market.
Additionally, with growing deployment of cloud-based applications and with a large number of users accessing the applications, it is challenging to maintain the pool of users and passwords. Cloud IAM helps enterprises to effectively and efficiently allow provision and de-provision of users and maintain multi-factor authentication. Growing demand for distributed software applications across industries is boosting the adoption of cloud IAM solutions.
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Enterprises are emphasizing on identifying and eliminating insider threats associated with security practices and data, by implementing cloud IAM solutions. As cloud IAM is an enabler of mobile computing and helps enterprises to implement secure mobile computing programs, growing adoption of bring your own device (BYOD) in business processes is supplementing the demand for cloud IAM. However, security issues associated with cloud-based platforms and rising cyber-attacks on data and information are anticipated to restrain the cloud IAM market.
Based on end-use industry, the market can be bifurcated into education, IT enterprises, government, sports, media & entertainment, and others, which includes healthcare and tourism. The cloud IAM market in emerging economies especially in Europe and Asia Pacific is anticipated to see healthy growth during the forecast period owing to factors such as advancing penetration of cloud technologies.
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Moreover, strong demand for reduced data loss and better management of accesses across applications is expected to supplement the growth of the cloud IAM market across these regions.
Growing importance of cloud-based identity & access management and better maturity of cloud-based solutions has led multiple companies to participate in the cloud IAM market. Some of the companies in the market are Centrify Corporation, CA, Inc.; Google, Inc.; Gemalto NV, Microsoft Corporation, Auth0®, Inc.; SAP SE, Okta, Inc.; International Business Machine (IBM) Corp., IAM Technology Group Ltd., Micro Focus, SafeNet, Inc.; OneLogin, Inc.; and F5 Networks, Inc.
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