IoT- Identity Access Management Market Drives with Increasing Advances in Cyber Security Technologies | Industry analysis by Major Companies: Microsoft, IBM
Research Reports
Jan 18, 2021
The IoT- identity access management market is growing rapidly. Market growth attributes to the spurting rise in demand for the latest security & authentication technologies in various information sensitive industries. Besides, the rising uptake of IoT IAM technologies in IT & telecom and banking & finance sectors creates substantial market demand.
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 is poised to create a valuation of approximately USD 20 BN by 2022, growing at 16% CAGR during the review period (2018-2023).
Organizations are capitalizing upon existing surveillance infrastructures and access control to create new service lines and ensure the appropriate access to business services. Additionally, the growing adoption of cloud services and channelizing identity access management functions, boost market sales. Also, the rising trend of ‘bring your own device’ (BYOD) policy in organizations positively impact market growth.
IoT- Identity Access Management Market – Competitive Analysis
Highly competitive, the IoT IAM market appears fragmented due to the presence of numerous well-established players. To gain a larger competitive share, innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players. The market is likely to witness intensified competition with an increase in R&D innovations and M&A.
Major Players:
Players leading the global IoT IAM market include Microsoft Corporation (US), IBM Corporation (US), Hitachi, Ltd. (Japan), Intel Security Group (US), EMC Corporation (US), Siemens AG (Germany), ARCON Tech Solutions (India), Oracle Corporation (US), Cloud Security Alliance (US) and CA Technologies (US), among others.
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IoT- Identity Access Management (IoT IAM) Market – Segments
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 IAM Market – Regional Analysis
North America dominates the global IoT- identity access management market. The largest market share attributes to technological advancements, several opportunities in various sectors, and increasing usage by law enforcement agencies. Besides, the rapid adoption of cloud applications and mobile applications in banking, IT & telecom, government, energy & utility services drive the regional market.
Europe stands second in the global IoT- identity access management market. The market is driven by the increasing uptake of IoT IAM solutions in government establishment like cyber authorities & policies to protect confidential data. Additionally, the growing adoption of cloud-based services by small and large organizations in developing countries like China and India fosters regional market growth.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- IoT- Identity Access Management Market, By Segments
- Competitive Analysis
Continued…
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