Identity and access management (IAM) is the business framework encapsulating organizational policies and technologies for managing electronic or digital identities. The products are mainly based on role-based access control and allow individual users to perform specific tasks according to the role defined in the enterprise. The IAM framework is gaining increased significance as automated means for initiating, capturing, recording, and managing user identities. IAM technologies play a vital role in reducing internal and external breaches. The integration of IAM infrastructure onto cloud architecture is gathering steam in industry search for scalable and flexible IAM platforms. Cloud IAM can be deployed on different platforms—public, private, or a combination of the two. IAM hosted on cloud have been increasingly popularized by the adoption of SaaS applications in recent years.
Cloud IAM are gaining increased traction in end-use industries, offering several benefits such as identity synchronization and provisioning, federation service, customer identity management, and single sign-on (SSO) features. Their adoption has helped enterprises reduce the cost and complexity in managing access controls and compliance for users. Equipped with robust application interfaces, cloud IAM enable custom integrations capabilities for businesses of different types.
The report offers a holistic insight into the key growth drivers, notable adoption trends, strategic landscape, and major technological innovations. The findings sheds light on emerging opportunities and lucrative avenues in various regions, proving indispensable for impactful strategy formulation.
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Global Cloud Identity Access Management (IAM) Market: Trends and Opportunities
The global market for cloud identity access management is reaping substantial benefits of the proliferation of cloud computing applications in enterprises. The rising demand for scalable, cost-effective, and flexible IAM has stoked the popularity of IAM hosted on various types of cloud platforms. The market is especially benefitting from the extensively growing adoption of SaaS models across small and medium- scale enterprises. The growing demand for multifactor authorization as well as the substantial need for provisioning and de-provisioning of users’ access are crucial factors adding to the strength of the market.
In the coming years, IAM is expected to witness burgeoning demand for distributed software applications across industries. This is a noteworthy trend likely to open lucrative avenues in the market. The key role played by cloud IAM in mobile computing programs is a key factor contributing to the expansion of the cloud IAM market. The rising popularity of bring your own device (BYOD) in enterprises in developing and developed countries is a notable trend catalyzing the demand for IAM.
However, security concerns in the sophisticated cloud IAM may act as crippling bottlenecks for market players, if not adequately and timely addressed. The rising complexity of cyberattacks on cloud-based platforms is another restraining factor. However, the ever-increasing adoption of cloud computing technologies will persuade companies develop more secure solutions. The advent of database integrated solutions by cloud IAM providers is an exciting development in the market.
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Global Cloud Identity Access Management (IAM) Market: Regional Outlook
On a geographic front, numerous emerging economies in the various developing and developed regions are potentially lucrative markets for cloud IAM. Several developing countries in Europe and Asia Pacific are expected to witness widespread demand for of cloud IAM. In these regions, the wide uptake of cloud-hosted technologies among enterprises in industries, such as government, sports, media and entertainment, is a notable trend contributing to the overall global revenues. North America is also a prominent market for cloud IAM, fueled by the substantial appetite for next-generation IAM solution in organizations.
Companies mentioned in the report
The report provides a comprehensive insight into the profile of market players, their key offerings, innovative launches, and the strategies adopted by them to get a firm foothold in the cloud identity and access management market. Prominent players include IAM Technology Group Ltd., International Business Machine (IBM) Corp., Okta, Inc., SAP SE, Auth0, Inc., Microsoft Corporation, Gemalto NV, Centrify Corporation, Google LLC, and Micro Focus.