Cloud IAM Market

Cloud IAM Market

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Raksha Sharma

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Cloud IAM Market Outlook 2031

The global cloud IAM market size was USD 3.11 Billion in 2022 and is likely to reach USD 20.73 Billion by 2031, expanding at a CAGR of 21.3% during the forecast period, 2023–2031. The market growth is attributed to the increasing need to secure consumer identity data.

Cloud IAM (Identity and Access Management) is essential for cloud computing. This technology is used to initiate, capture, record, and manage various other user profiles and access permissions. Only when the user is evaluated and authenticated by the organization according to their norms then and then only, they are provided access according to their respective roles.

Cloud IAM Market Market Outlook

Cloud access management systems assisted in defining roles and granting rights to users to access resources at various granularity levels as more individuals began working remotely. It prevents data breaches, malware, and identity-based attacks.

A clear and consistent access control interface is offered by cloud identity and access management (IAM) solutions for all cloud platform services. All cloud services may be accessed using the same interface. User identities and associated access rights may be created, captured, recorded, and managed using IAM technology.

All users are also verified, given permission, and graded in accordance with the regulations and duties. It supports keeping processes and procedures compliant. The fact that permissions are given based on employee requirements and duties rather than being removed when they are no longer required has the significant disadvantage of giving users a lot of unused rights.

The COVID-19 pandemic offers potential opportunities in the market, due to the rise in demand for cloud services during the pandemic as individuals began using cloud access control management systems for staff authentication through cloud services and preserving data.

The vendors are stepping front to offer their services to the enterprises. For instance, IBM announced their new technologies such as IBM security MaaS360 along with Watson and IBM Cloud Identity which contributing significantly in the market growth.

Cloud IAM Market Dynamics

Cloud IAM Market Dynamics

Key Trends

Increasing adoption of bring your own device (BYOD) is a major trend. Growing digitization encouraged consumers to carry their own devices. However, the rising adoption of own devices by several government offices, owing to the strict cyber security policies, and the extensive research & development activities are projected to boost the market.

Major Drivers

Growing acceptance of cloud-based data recovery systems is a major factor driving the market during the projected period. Cloud-based technology offers access to storage, software, and enhanced security. Rising digitization and the rapid expansion of the IT industry demand for cloud-based service as it increases the flexibility of an individual or organization.

Rising use of desktops and increased penetration of IoT are expected to propel the market growth. Employees are comfortable with using their own devices rather than office devices, and thus it increases the need for cloud identity and access management software.

Increasing cyber threats activities due to burgeoning digitalization are anticipated to drive the market. According to the identity theft resource center, data theft cases have increased, due to the lack of security to protect financial & corporate data and the increase in digital content.

This in turn increases security concerns, which raised the demand for cloud identity and access management solutions. Furthermore, the rising number of mobile devices for consumer identity and access management solutions is projected to propel the market during the forecast period.

Existing Restraints

Lack of identity standards and insufficient resources in terms of budgets are expected to hamper the market in the coming years. Moreover, the Risk associated with data theft and the lack of awareness & trust regarding the benefits of cloud IAM solutions are projected to restrain market growth at a certain limit.

Emerging Opportunities

Increasing adoption of IoT and smart devices is projected to create lucrative opportunities for market players. The demand for the cloud IAM market increased due to the opportunity to spend less on corporate security by relying on the centralized trust architecture to handle identity management across third parties and own apps.

Scope of Cloud IAM Market Report

The market report includes research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Cloud IAM Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Deployment Mode (Private, Hybrid, and Public), Service (Multi-Factor Authentication, Password Management, Directory Services, Governance & Compliance Management, User Provisioning, Single Sign-on, and Access Management), and Industry Vertical (Healthcare, Media & Entertainment, Retail, Education, BFSI, IT & Telecommunication, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Cloud IAM Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Braodcom, Auth0, CyberArk, Oracle; Intel Corporation; OneLogin; Hewlett Packard Enterprise Development LP; SailPoint Technologies, Inc.; Ping Identity; Microsoft; IBM; Secureworks, Inc.; Okta; and Evidian

Cloud IAM Market Segment Insights

Deployment Mode Segment Analysis

On the basis of deployment mode, the cloud IAM market is segmented into private, hybrid, and public. The public segment is projected to expand at a considerable CAGR during the forecast period, owing to the low cost. On the other hand, the private segment is anticipated to account for a major market share during the projection period, due to the high adoption in many firms.

Several enterprises and organizations face maximum breaches of data security due to weak credentials. To counter this, enterprises shifted their interest towards the adoption of cloud IAM solutions to provide an unbreachable wall for credentials along with better business productivity.

Service Segment Analysis

Based on service, the market is divided into multi-factor authentication, password management, directory services, governance & compliance management, user provisioning, single sign-on, and access management.

The single sign-on segment is expected to hold a significant share of the market in the coming years. Users may securely log in to several different apps and websites with just one set of credentials, with single sign-on (SSO).

The multi-factor authentication segment is anticipated to expand at a rapid pace. In order to access a resource including an online account, an application, or a VPN, the user must submit two or more verification factors. This authentication technique is known as multi-factor authentication (MFA).

Cloud IAM Market Service

Industry Vertical Segment Analysis

On the basis of industry vertical, the cloud IAM market is segregated into healthcare, media & entertainment, retail, education, BFSI, IT & telecommunication, and others. The BFSI segment is anticipated to expand at a substantial CAGR during the forecast period.

The banking sector uses cyber solutions for monitoring, detecting, and countering cyber threats. The demand for cloud IAM is expected to increase in the BFSI industry as it enhances cloud security.

The healthcare segment is expected to hold a significant share of the market. Cloud IAM solutions are increasingly being utilized in the healthcare industry, where they are primarily employed to secure patients' sensitive data and facilitate simple access to the services of medical institutions.

Furthermore, the growing penetration of the
internet of thing (IoT) in healthcare is expected to boost the demand for cloud IAM during the projection period.

Cloud IAM Market Industry Vertical

Regional Analysis

In terms of region, the global cloud IAM market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period, due to the higher adoption of sophisticated technologies such as IoT and IP-based devices in well-developed economies.

The regional market growth is further attributed to the wide presence of software companies and increasing digital crime. 
The market in Asia Pacific is expected to grow at a significant growth rate during the projection period, owing to factors such as the adoption of cloud by SMEs in the region and the development of enterprise IT infrastructure.

This growth is attributed to the increasing penetration of IoT, extensive use of desktops and laptops, and employees’ preference for using their own devices rather than office devices.

Cloud IAM Market Region

Segments

The cloud IAM market has been segmented on the basis of

Deployment Mode

  • Private
  • Hybrid
  • Public

Service

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

Industry Vertical

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

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Braodcom
  • Auth0
  • CyberArk
  • OneLogin
  • Oracle
  • Intel Corporation
  • Hewlett Packard Enterprise Development LP
  • SailPoint Technologies, Inc.
  • Ping Identity
  • Microsoft
  • IBM
  • Secureworks, Inc.
  • Okta
  • Evidian

Competitive Landscape

Key players competing in the global cloud IAM market are Braodcom, Auth0, CyberArk, Oracle; Intel Corporation; OneLogin; Hewlett Packard Enterprise Development LP; SailPoint Technologies, Inc.; Ping Identity; Microsoft; IBM; Secureworks, Inc.; Okta; and Evidian.

These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide.

  • In August 2020, IBM released the security IAM suite V1.0. This latest version includes security tools such as access manager, security identity governance and intelligence, security directory suite, and security identity manager.
  • In May 2020, LoginRadius, the global leader in cloud based IAM solutions, announced the implementation of its services for the US-based video broadcasting company BroadcastMed, created a frictionless character and increased the streaming efficiency for its customers. BroadcastMed to offers a centralized login system through single sign-on (SSO) while also leveraging the much-needed National Provider Identifier (NPI) database to verify the identity of registered healthcare professionals.
  • In December 2019, IBM announced the expansion of its artificial intelligence (AI) technology. It is originally developed to protect the users in the financial services industry, to all clients in all industries via the company’s identity-as-a-service (IDaaS). IBM Cloud Identity features AI-based adaptive access capabilities that help continually assess employee or consumer user risk levels when accessing applications and services.
Cloud IAM Market Key Players
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cloud IAM Market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cloud IAM Market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cloud IAM Market Market - Supply Chain
  4.5. Global Cloud IAM Market Market Forecast
     4.5.1. Cloud IAM Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cloud IAM Market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Cloud IAM Market Market Absolute $ Opportunity
5. Global Cloud IAM Market Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Cloud IAM Market Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Cloud IAM Market Demand Share Forecast, 2019-2026
6. North America Cloud IAM Market Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Cloud IAM Market Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Cloud IAM Market Demand Share Forecast, 2019-2026
7. Latin America Cloud IAM Market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Cloud IAM Market Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Cloud IAM Market Demand Share Forecast, 2019-2026
8. Europe Cloud IAM Market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Cloud IAM Market Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Cloud IAM Market Demand Share Forecast, 2019-2026
9. Asia Pacific Cloud IAM Market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Cloud IAM Market Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Cloud IAM Market Demand Share Forecast, 2019-2026
10. Middle East & Africa Cloud IAM Market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Cloud IAM Market Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Cloud IAM Market Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Cloud IAM Market Market: Market Share Analysis
  11.2. Cloud IAM Market Distributors and Customers
  11.3. Cloud IAM Market Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Braodcom
     11.4.2. Auth0
     11.4.3. CyberArk
     11.4.4. Oracle
     11.4.5. Intel Corporation
     11.4.6. OneLogin
     11.4.7. Hewlett Packard Enterprise Development LP
     11.4.8. SailPoint Technologies, Inc.
     11.4.9. Ping Identity
     11.4.10. Microsoft
     11.4.11. IBM
     11.4.12. Secureworks, Inc.
     11.4.13. Okta
     11.4.14. Evidian

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