IoT- Identity Access Management Market Research Report- Forecast till 2022
Market Highlights
The latest research report by Market Research Future (MRFR) asserts that the global IoT- identity access management market is poised to acquire a substantial market valuation from USD 8 billion up to USD 20 billion at a moderate 16% CAGR over the review period.
Drivers and Restraints
The global market for IoT- identity access management has observed remarkable growth over the past few years, worldwide, owing to the rising demand for securing relevant, sensitive data and applications. IoT-Identity Access Management Market have a primary need in organization due to the organization’s innovation taking places technology industry and increasing industry competition in the market. The number of working employees is rising each day in the organization and at the same time numbers of people accessing the database. Servers keep growing. Identity Access Management Market provides security for a modern device like a tablet, smartphones, and laptops specifically when personnel are working from home or outside the organization. Keeping track of all logs and activity performed by the user; take the required action whenever required. Additionally, support for online business over the cloud with appropriate security. These are the benefits of IAM software that are primarily driving the IoT- Identity Access Management Market.
The growth of this market can be inhibited by factors such as continuous up-gradation of valuable features and differentiation techniques followed by competitor market players. The other factors limiting the growth of this market are issues related to employment guidelines and the proper assignment of security policies to particular users.
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Segmentation:
The global IoT-identity access management market has been segmented on the basis of services, customer type, deployment, and industry. Services comprise of multi-factor authentication, directory services, user provisioning, password management, access management, and single-sign-on (SSO), among others. the Deployment segment of the IoT-identity access management market comprises of on-cloud, on-premise, and hybrid. The industry segment of the market includes small and medium enterprises (SME’s) and large enterprises and others. End-user can be segmented on the basis of IT & telecom, media & entertainment, government, education, energy & utility services, banking & financial services, retail & e-commerce, and manufacturing among others.
Regional Analysis
The geographic analysis of the global IoT- identity access management market has been conducted in four major regions, namely North America, the Asia Pacific, Europe, and the rest of the world (covering Latin America, and the Middle East and Africa).
North America is likely to dominate the IoT- identity access management market owing to the rapid adoption of cloud and mobile applications in the region. In the North American region, several federal government organizations are emphasizing the use of personal identification cards for accessing government IT infrastructure which is also driving the IoT-identity access management market in the region over the review period. Europe is anticipated to grow owing to the formation of policies by government cyber authorities to protect confidential data. The Asia Pacific region is projected to grow due to the increasing adoption of cloud-based services by small and large organizations in developing countries like China and India.
Competitive Landscape
The leading market players identified by MRFR in the global IoT- identity access management market are IBM Corporation (U.S.), Microsoft Corporation (U.S.), Hitachi, Ltd. (Japan), EMC Corporation (U.S.), Intel Security Group (U.S.), Siemens AG (Germany), Oracle Corporation (U.S.), ARCON Tech Solutions (India), Cloud Security Alliance (U.S.) and CA Technologies (U.S.) among others.
Characterized by the presence of several major well-established players, the IoT- Identity Access Management Market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage in this market and to uphold their market position. Strategic alliances between significant players is likely to support the growth and expansion plans of the organizations, over the forecast period.
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Global IOT- Identity Access Management Market, by Services (Multi-factor Authentication, Password Management, Directory Services), by Components (Network Hardware, Cooling Units), by End-Users (Banking, IT, Healthcare, Government) – Forecast 2022
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