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Cloud IAM Market Study For 2022 To 2030 Providing Information On Key Players, Growth Drivers And Industry Challenges

By We Market Research 1 year ago
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Cloud IAM Market valued at US 3594.95 Billion in 2022 is anticipated to reach a value of US 1829.37 Billion in 2030, growing at a CAGR of 21.3%.

A cloud-based solution known as cloud identity and access management (IAM) regulates user permissions and resource access. It consists of user provisioning, single sign-on, password and access management, directory services, audit governance, and compliance management. Businesses and organisations frequently utilise Cloud IAM to authenticate, authorise, and evaluate individuals in accordance with predefined policies and roles. It enhances security, safeguards data, lowers risk exposure, and fends against cyberattacks. It is a simple structure that increases production, encourages user satisfaction, and reduces capital expenditure. As a result, it has several uses in the information technology (IT), telecommunications, media, education, and retail sectors.

Because of its lower costs and increased economies of scale, cloud computing is revolutionising the way organisations operate. However, the advantages of cloud computing may be compromised by a lack of adequate security measures. Thus, the market for cloud identity and access management is driven by the essential requirement for security solutions, particularly security against identity-related crimes.

Market Overview:

The primary drivers of the market are the increase in cyberattack occurrences and the burden of regulatory compliance. Multifactor authentication, provisioning, and de-provisioning of user access are all features of the cost-efficient, scalable, and adaptable platform known as cloud IAM. These features help businesses avoid revenue loss and minimise data breaches. Additionally, the market is receiving a significant boost from the growing need for cloud IAM among businesses to safeguard systems from unwanted access and misuse, authenticate users, and monitor user activity. The implementation of blockchain technology in cloud IAM to create decentralised, secure means of identification credential verification and storage to thwart fraud and identity theft is also boosting industry expansion. Additionally, the combination of artificial intelligence (AI) and machine learning (ML) (AI)

Additionally, a favourable outlook for the industry is being created by the combination of machine learning (ML) and artificial intelligence (AI) to quickly assess threats and dangerous code and enhance security. Other factors are anticipated to drive the market, including the new mobility services, bring-your-own-device (BYOD), and choose-your-own-device (CYOD) trends; the proliferation of Internet of Things (IoT)-enabled devices; growing adoption by several governments as a result of strict cyber-security regulations; and extensive research and development (R&D) activities..

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Segmental analysis of the market:

Based on Services

  • User Provisioning
  • Single Sign-On
  • Access Management
  • Multi-Factor Authentication
  • Password Management
  • Directory Services
  • Governance and Compliance Management

Based on Deployment mode

  • Public
  • Hybrid
  • Private

Based on Industry Verticals

  • BFSI
  • IT and Telecommunication
  • Healthcare
  • Media & Entertainment
  • Retail
  • Education
  • Others

North America is anticipated to amplify at a considerable CAGR

The Cloud identity and access management (IAM) market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle East and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the technological advancements in the region.

Key Players:

  • IBM
  • Microsoft
  • CA, Inc.
  • Secureworks, Inc.
  • Oracle Corporation
  • Intel Corporation
  • OneLogin, Inc.
  • Hewlett Packard Enterprise Development LP
  • SailPoint Technologies Holdings, Inc.
  • Ping Identity

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Major questions answered in this report:

  • what is the growth rate of the Cloud IAM market?
  • What are the primary growth determinants of the market?
  • Which are the major regions constituting the geographical landscape of the market?
  • Which are the prominent companies operating in the market?

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