DUBLIN--(BUSINESS WIRE)--The "Cloud Identity and Access Management Market by Service, Deployment Mode, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global cloud identity and access management market was valued at $3.10 billion in 2020, and is projected to reach $20.72 billion by 2030, growing at a CAGR of 21.1% from 2021 to 2030.
Cloud identity and access management (IAM) is a security framework, which ensures secure access to end users across multiple applications. At present, integration of IAM with cloud is gaining pace owing to its low cost and enhanced security. IAM is an approach to revamp the traditional IT security environment by offering IAM solutions over the cloud. Cloud IAM helps large and small organizations to secure their IT infrastructure and patents & intellectual properties (IP) in a cost-effective manner.
Cloud IAM offers various services such as user provisioning, access management, multi-factor authentication, directory services, single sign-on (SSO), governance & compliance management, and password management. Several organizations have adopted cloud IAM to improve customer engagement, acquisition, and retention. A well-designed cloud IAM system helps to prevent data security breach, thereby reducing the possible financial loss.
The cost-effectiveness of the cloud IAM service compared to the traditional IAM services is one of the major factors that drives the adoption of cloud IAM. Enterprises are adopting cloud applications at a large scale, owing to the fast dropping rates of bandwidth and storage. It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud IAM services.
The accruing costs on organizations due to increase in complexities of cyber-attacks and the costs involved in detection & recovery of losses have fostered the adoption of cloud IAM across various organizations. In addition, increase in popularity of Bring Your Own Device (ByOD) and various mobility trends in organizations have augmented the end user device authentication security. Therefore, increase in number of cyber-attacks, rise in adoption of ByOD policies by various organizations, surge in adoption of cloud services, centralized security & management, and government compliances are the key factors that drive the growth of cloud IAM market.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the global cloud identity access management market along with the current & future trends to illustrate the imminent investment pockets
- Information about key drivers, restrains, & opportunities and their impact analysis on the global cloud identity access management market size are provided in the report
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry
- The quantitative analysis of the global cloud identity access management market from 2021 to 2030 is provided to determine the market potential
Key Market Segments
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
- US
- 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
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
For more information about this report visit https://www.researchandmarkets.com/r/u6aen7
