Cloud IAM Market valued at US 3594.95 Billion in 2022 is anticipated to reach a value of US 1829.37 Billion in 2030, growing at a CAGR of 21.3%.
Cloud identity and access management (IAM) solution is defined as the solution that provides a clean and consistent access control interface for all cloud platform services.
The same interface has been used for all cloud services. The IAM technology is used to initiate, capture, record, and also manage user identities, as well as used to access their permissions
Key market trends: Growth determinants and Challenges
Every market has its growth determinant and challenges. One of the major factors that had fuelled the market growth is the implementations in governmental regulations with regards to identity and access management and unprecedented growth in cloud adoption over the forecast period.
On the flip side, the increase in security concerns in a cloud-based environment and lack of awareness and trust in cloud IAM providers had hampered the market growth over the forecast period.
Also, the global market is expected to grow at an exponential rate with a wide scale adoption of cloud IAM in BFSI, IT and telecom, and retail. The industrial developments that occur within developing economies will boost the adoption of cloud IAM services over the forecast period.
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Segmental analysis of the market:
Based on Services
- User Provisioning
- Single Sign-On
- Access Management
- Multi-Factor Authentication
- Password Management
- Directory Services
- Governance and Compliance Management
Based on Deployment mode
- Public
- Hybrid
- Private
Based on Industry Verticals
- BFSI
- IT and Telecommunication
- Healthcare
- Media Entertainment
- Retail
- Education
- Others
North America is anticipated to amplify at a considerable CAGR
The Cloud identity and access management (IAM) market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle East and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the technological advancements in the region.
Key Players:
- IBM
- Microsoft
- CA, Inc.
- Secureworks, Inc.
- Oracle Corporation
- Intel Corporation
- OneLogin, Inc.
- Hewlett Packard Enterprise Development LP
- SailPoint Technologies Holdings, Inc.
- Ping Identity
Major questions answered in this report:
- what is the growth rate of the Cloud IAM market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
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