Rising cybersecurity breaches, identity fraud, & the growing use of cloud and connected tech are driving the global cloud identity and access management market.

WILMINGTON, DE, UNITED STATES, November 14, 2024 /EINPresswire.com/ -- According to the report, the global cloud identity and access management market size generated $6.2 billion in 2022, and is anticipated to generate $34.1 billion by 2032, witnessing a CAGR of 18.8% from 2023 to 2032.

Cloud Identity and Access Management (IAM) ensures that appropriate individuals and job roles within an organization have access to necessary tools. IAM systems allow organizations to manage employee applications efficiently without requiring logins to each app individually. They handle various identities, including people, software, and IoT or robotic devices, granting only the required level of access. Rather than broad permissions, cloud IAM allows for specific access levels—such as editor, viewer, or commenter in a content management system—enhancing control and security.

Download Sample Report (Get Full Insights in PDF - 280 Pages) at: https://www.alliedmarketresearch.com/request-sample/721

The notable factors positively affecting the cloud identity and access management market include a growing number of cybersecurity breaches and identity-related fraud and increasing adoption of cloud computing and other connected technologies. However, lack of awareness regarding IAM solutions and complexity of advanced threats and the fluctuating regulatory landscape can hinder market growth. However, the growing popularity of cloud-based IAM solutions and services and rising adoption of emerging technologies such as AI, biometrics, and others offer lucrative market opportunities for market players.

The North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the cloud identity and access management market revenue. The increase in the usage of cloud identity and access management solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 20.1% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, further expected to contribute to the growth of the market in this region.

For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/721

Recent Product Launches in the Cloud Identity and Access Management Market

1. In April 2023, Google Cloud launched a series of new security alliances to bring more choice, capability, and simplicity to enterprise and public sector IT teams tasked with managing hybrid work at scale.

2. In March 2023, Ping Identity launched PingOne Neo, a multi-standards decentralized identity management solution. Neo improves data security, privacy, and control for individuals while reducing resource and compliance burdens for enterprises.

3. In June 2022, Microsoft Corporation launched a new product family, Microsoft Entra, which encompasses all of Microsoft's identity and access capabilities. Microsoft Entra includes Azure Active Directory (Azure AD) as well as two new product categories

Recent Partnerships in the Cloud Identity and Access Management Market

1. In September 2023, Semperis partnered with NTT DATA to offer security-centric managed services that combine NTT DATA's business and technology services with Semperis' comprehensive identity threat detection and response (ITDR) solutions.

The market players operating in the cloud identity and access management market are Accenture plc, Amazon Web Services Inc., Cognizant Technology Solutions Corporation, Google Inc., IBM Corporation, Microsoft Corporation, NTT Data Corporation, Okta Inc., Oracle Corporation, and Ping Identity. The report provides a detailed analysis of these key players in the cloud identity and access management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Buy Now & Get Up to 50% off on This Report: https://www.alliedmarketresearch.com/cloud-identity-access-management-market/purchase-options

Based on offering, the single sign-on segment accounted for the largest share in 2022, contributing for more than one-fourths of the cloud identity and access management market revenue, owing to the growing demand for cloud identity and access management solutions in large enterprises which is fueling the market growth for global market in these enterprises. However, the multi-factor authentication segment is expected to portray the largest CAGR of 22.8% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to the several organizations.

Based on deployment mode, the public segment accounted for the largest share in 2022, contributing for more than two-fifths of the cloud identity and access management market revenue. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based cloud identity and access management solutions. However, the hybrid segment is expected to portray the largest CAGR of 21.0% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.

Based on component, the solution segment held the highest market share in 2022, accounting for less than two-thirds of the cloud identity and access management market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization as one of the primary reasons enterprises are increasing their investment in the cloud identity and access management market.

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/721

Other Trending Reports:

1. Cloud Access Security Broker Market Size Overview

2. Cloud OSS BSS Market Size Overview

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.