IoT- Identity Access Management Market Growth, Market status and Business Opportunities
- ehteshampeerzade
- Nov 25, 2020
- 2 min read
Market Highlights
IoT-identify access management is gaining popularity owing to changing requirements of the business world. Platforms that provide seamless connection among things, people and information have become the need of the hour. This is turn is creating significant opportunities for service providers. Market Research Future (MRFR) projects that the global IoT-identity access management market will witness an impressive growth over the next couple of years.
Moreover, the growing integration of IoT IAM solutions to enhance services such as multi-factor authentication, access management & SSO escalate the market growth. According to Market Research Future (MRFR), the global IoT- identity access management market size is poised to create a valuation of approximately USD 20 BN by 2022, growing at 16% CAGR during the review period (2018-2023).
The global IoT-identity access management market is benefiting from the rapid expansion of the IoT. Others factors that are supporting the market growth include merchandising of functions of identity access management, arrival of consumer-centric identity access management services, increased popularity of cloud service, rising trend of bring-your-own-device (BYOD), and rise of social media.
Service providers are implement aggressive strategies to capture market share. During the forecast period (2019-2022), mergers and acquisitions are expected to remains a key industry trend. Many market players are also entering partnership and collaborations to drive product innovation. Such strategies are expected to have positive impact on the market in the long run.
Segmentation:
The report is segmented into six dynamics;
By Services : Multi-factor Authentication, User Provisioning, Password Management, Directory Services, Access Management & Single-Sign-On (SSO), and others.
By Deployment : On-Cloud, On-Premise, and Hybrid.
By Components : Network Hardware, Cooling Units, and others.
By Enterprises : Small-to-Medium-Enterprises (SMEs) and Large Enterprises.
By End-Users : IT & Telecom, Government, Energy & Utility Services, Education, Retail & E-Commerce, Banking & Financial Services, Media & Entertainment, Manufacturing, and others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global IoT-Identity Access Management Market: Regional Analysis
Key regions covered in the report include North America, Asia Pacific (APAC) and Europe. On these, North America has emerged as the largest market for IoT-identity access management market. The market growth in North America is driven by the rapid adoption of cloud technology coupled with the growing use of mobile applications. The practice of using personal identification card for entering in IT infrastructure is viewed as a major market driver. Europe has also emerged as an important market for IoT-identity access management in recent years. Introduction of stricter policies by European Commission to improve data security and prevent cyber malignancy is a major factor supporting the market growth in the region. In APAC, policy reforms to improve economic growth along with the tremendous industrialization in creating lucrative market opportunities. During the review period, countries such as China and India are expected to make significant contribution to the APAC market in terms of revenue.
Global IoT-Identity Access Management Market: Competition Analysis
Some of the notable companies operating in the market include Hitachi, Ltd. (Japan), Intel Security Group (U.S.), IBM Corporation (U.S.), ARCON Tech Solutions (India), CA Technologies (U.S.), Microsoft Corporation (U.S.), Siemens AG (Germany), Cloud Security Alliance (U.S.), EMC Corporation (U.S.) and Oracle Corporation (U.S.)
Comments