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2022
Cloud Identity And Access Management Market

Cloud Identity and Access Management Market

by Service (User Provisioning, Single Sign-On, Access Management, Multi-Factor Authentication, Password Management, Directory Services, and Governance and Compliance Management), Deployment Mode (Public, Hybrid, and Private), and Industry Vertical (BFSI, IT and Telecommunication, Healthcare, Media & Entertainment, Retail, Education and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

✷  Report Code: A00588
Pages: 117
Feb 2022 | 19747 Views
Author(s) : Pradeep R, Kanhaiya K , Vineet K
Tables: 131
Charts: 65
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Cloud Identity And Access Management Market Statistics: 2030

The global cloud identity and access management market was valued at $3,109.15 million in 2020, and is projected to reach $20,728.92 million by 2030, growing at a CAGR of 21.1% from 2021 to 2030.

The COVID-19 outbreak had a positive impact on the cloud identity and access management market, since the trend for deploying services through cloud increased during the pandemic, which resulted in increased demand for the safety and privacy of user data and user credentials over the cloud platform from data breaches and cybercrimes.

Cloud identity and access management (IAM) solution provides a clean and consistent access control interface for all cloud platform services. The same interface can be used for all cloud services. IAM technology can be used to initiate, capture, record, and manage user identities and their access permissions. Furthermore, all users are authenticated, authorized, and evaluated according to policies and roles. It helps maintain compliance of processes and procedures. However, a major drawback is that permissions are granted based on  needs and tasks of employees, and not revoked when they are no longer necessary, thus creating users with lots of unnecessary privileges.

Cloud-Identity-and-Access-Management-Market,-2021-2030

The key factors responsible for the growth of the cloud IAM market are  implementation in governmental regulations regarding identity and access management and unprecedented growth in cloud adoption. Increase in security concerns in a cloud-based environment and lack of awareness & trust in cloud IAM providers are expected to restrain the growth of the market.  The global market will grow at an exponential rate with a wide scale adoption of cloud IAM in BFSI, IT & telecom, and retail . The industrial developments occurring within developing economies are likely to boost the adoption of cloud IAM services. 

The report focuses on growth prospects, restraints, and trends of the market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, and threat of substitutes on the cloud IAM market.

Segment Review

The cloud IAM market is segmented on the basis of services, deployment mode, industry verticals, and region. Depending on services segment, it is categorized into user provisioning, single sign-on, access management, multi-factor authentication, password management, directory services, and governance and compliance management. By deployment type, it is fragmented into public, hybrid and private. As per industry verticals, it is classified into BFSI, IT and telecommunication, healthcare, media & entertainment, retail, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the cloud identity access management market such as IBM, Microsoft, CA, Inc., Secureworks, Inc., Oracle Corporation, Intel Corporation, OneLogin, Inc., Hewlett Packard Enterprise Development LP, Sailpoint Technologies Holdings, Inc., and Ping Identity. These players have adopted various strategies to increase their market penetration and strengthen their position in the cloud identity access management industry.   

Covid-19 Impact Analysis

The COVID-19 pandemic has a positive impact on the market, owing to surge in demand for cloud services during the pandemic as people started adopting cloud access control management systems for managing the authentication of employees and staff through cloud services and storing records. Furthermore, as people started working remotely, cloud access management system helped to define roles and grant permissions to users to access resources at different granularity levels. In addition, the ability to spend less on enterprise security by relying on the centralized trust model to deal with identity management across third party and own applications surged the demand for cloud IAM market during the COVID-19 pandemic.

Cloud Identity and Access Management Market
By Services

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User provisioning segment accounted for the highest market share in 2020.

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Top Impacting Factors

Increase in Cyber-attacks

Increase in number of cyber-attacks, owing to burgeoning digitalization is one of the driving factors of cloud IAM. Cyber-attacks are increasing at a rapid pace therefore, resulting in a strong need for IAM services. According to the Identity Theft Resource Center, data theft cases have exponentially increased from 2011-2014, owing to increase in digital content and lack of security to protect financial & corporate data. BFSI, followed by IT & telecom, and retail, are the most targeted industries. Therefore, burgeoning cyber-attacks and data breach cases would drive the growth of the cloud IAM market in the future.

Cloud Identity and Access Management Market
By Deployment Type

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Public segment accounted for the highest market share in 2020.

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Lack of Awareness 

Lack of awareness regarding the importance of authorized access by right individual would negatively affect the growth of cloud IAM market, which is likely to have a serious bearing on the revenue generation and reputation of the company. However, over a period of time, one may expect the customers to realize the significance of IAM services.

Increase In Trend Of Byod And Other Mobility Trends

Increase in trend of bring your own device(BYOD) is one of the major factors affecting the adoption of cloud IAM. With the concept of BYOD gaining momentum across various organizations, implementation of BYOD security solutions has become highly important. Increase in efforts to secure enterprise data and reduce data theft cases, owing to rising implementation of BYOD concept, drive the market.

Cloud Identity and Access Management Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 24.6% during 2021-2030

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Key Benefits For Stakeholders 

  • The study provides in-depth analysis of the global cloud IAM market share along with current & future trends to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, & opportunities and their impact analysis on the global cloud IAM market size are provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the market.
  • An extensive analysis of the key segments of the industry helps to understand the global cloud IAM market trends.
  • The quantitative analysis of the global cloud IAM market size from 2021 to 2030 is provided to determine the market potential.

Cloud Identity and Access Management Market Report Highlights

Aspects Details
By Services
  • User Provisioning
  • Single Sign-On
  • Access Management
  • Multi-Factor Authentication
  • Password Management
  • Directory Services
  • Governance and Compliance Management
By Deployment Mode
  • Public
  • Hybrid
  • Private
By Industry Verticals
  • BFSI
  • IT and Telecommunication
  • Healthcare
  • Media & Entertainment
  • Retail
  • Education
  • Others
By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific   (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
By Key Market Players
  • IBM
  • Microsoft
  • CA, Inc.
  • Secureworks, Inc.
  • Oracle Corporation
  • Intel Corporation
  • OneLogin, Inc.
  • Hewlett Packard Enterprise Development LP
  • Sailpoint Technologies Holdings, Inc.
  • Ping Identity
 

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Cloud identity and access management (IAM) is a service/solution, which ensures secure access to end users across multiple applications. Cloud IAM service provides secure and identity-based access to various industrial verticals such as BFSI, IT & telecom, healthcare, media & entertainment, retail, and education. Cloud IAM services help various industrial verticals to manage security by permitting employee access with a user provision, multi-factor authentication, access management, and directory management, thereby preventing the misuse of financial and corporate data. Hence, cloud IAM services are being widely adopted by large organizations, small & medium-sized businesses (SMBs), and government agencies. Other features of cloud IAM such as single sign-on and access management are less effective without user provisioning. However, multi-factor authentication will significantly rise, owing to increase in demand for strong authentication.

The key factors responsible for the growth of the cloud IAM market are increase in governmental regulations regarding IAM and unprecedented growth in cloud adoption. Security in a cloud-based environment and lack of awareness & trust in cloud IAM providers are expected to restrain the growth of the market. The global cloud IAM market should grow at an exponential rate with a wide scale adoption of cloud IAM in BFSI, IT & telecom, and retail .

The industrial developments occurring within developing economies are likely to boost the adoption of cloud IAM services. The booming cloud industry in North America and Europe is likely to have a strong impact on the cloud IAM market. Asia-Pacific is the fastest growing cloud IAM market, owing to technological developments in cloud security in India and China. 

Public segment holds a major share in cloud deployment type, owing to its improved security compared to private & hybrid clouds. In addition, with growing technological advancements, it has been anticipated that public clouds would offer secure services and eventually incorporate many of the capabilities such as availability and security.

Some of the key players profiled in the report include IBM, Microsoft, CA, Inc., Secureworks, Inc., Oracle Corporation, Intel Corporation, OneLogin, Inc., Hewlett Packard Enterprise Development LP, Sailpoint Technologies Holdings, Inc., and Ping Identity. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
 

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