DUBLIN--(BUSINESS WIRE)--The "Global Cloud Identity and Access Management Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global cloud identity and access management market, which accounted for $2402.92 million in 2018, would witness a CAGR of 11.23% over the forecast period from 2019-2027, to reach $7425.73 million by 2028.
Owing to the increasing identity thefts, there is a growing need for identity & access management techniques. This is one of the primary driving factors of the market for cloud IAM. Moreover, the increasing trend of BYOD in companies and the rising importance of authentication, along with cost benefit, are also driving market growth.
Additionally, the evolving hybrid cloud mode of deployment, along with the growing demand for content streaming, presents a favorable opportunity for market growth. However, certain cyber risks act has impeding factors to the growth of the cloud identity and access management. Also, latency & interruptions as well as the high cost of cloud IAM are challenging the market growth.
The global market spans across the regions of the Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. The Asia-Pacific is expected to depict the highest CAGR throughout the forecast period. This is attributable to the increase in demand for cloud identity and access management across multiple sectors.
The region consists of the growing economies of China and India, along with the emerging Southeast Asian countries like Indonesia and Thailand. The growth in the APAC market is led by the rapid rate of industrialization, growth in demand from various applications, and the increased government spending. Moreover, the increased usage of mobile transactions, coupled with the usage of weak passwords, has increased the need for sophisticated systems for access management.
- Growing Need for Identity and Access Management Due to Identity Thefts
- Increasing Trend of Byod in Companies
- Rising Importance of Authentication
- Cost Benefit
- Risks Due to Cyber-Attacks
- Latency & Interruptions
- Evolving Hybrid Cloud Deployment Model
- Growth in Demand for Content Streaming
- High Cost of Cloud Iam
Impact of Coronavirus on the Industry
- International Business Machines Corporation
- Okta Inc
- Centrify Corporation
- Sailpoint Technologies Holdings Inc
- Auth0 Inc
- Dell Inc
- Cyberark Software Ltd
For more information about this report visit https://www.researchandmarkets.com/r/jolroj