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Cloud Identity Access Management Market

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  • 107 Pages
  • January 2021
  • Region: Global
  • IndustryARC
  • ID: 3786582

Cloud Identity Access Management Market Overview

The global Cloud Identity Access Management Market is estimated to surpass $10.7 billion mark by 2026 growing at an estimated CAGR of more than 23.9% during the forecast period 2022 to 2027. The market will be driven by BYOD (Bring Your Own Device) which is adopted by different organisations and growing adoption of cloud services. The growth is mainly attributed to the increasing adoption of cloud IAM solutions in various industries such as BFSI, Healthcare, Travel and hospitality and other industries push the market growth.

Cloud Identity Access Management solutions enable enterprises to securely manage and capture consumer profile and identity data through password management, smart access control and identity authentication solutions. It also helps in controlling the consumer login experience, registration and this set to propel the market growth during forecast period.

Cloud Identity Access Management Report Coverage

The report: “Cloud Identity Access Management Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Cloud IAM Market.

By Component: Solution (Directory Services, Identity Proofing/Verification, Identity Authentication, Identity Analytics, Behavioral Analytics, Single-Sign On, Access Management, Data Governance, CASB, SIEM); Service (Training and Education Services, Advisory and Implementation Services, Support Services)

By Organization Size: Small and Medium Enterprises, Large Enterprises

By Deployment Model: PaaS, IaaS, SaaS

By Cloud Type: Public Cloud, Private Cloud and Hybrid Cloud

By Authentication Type: Passwords, Knowledge-Based Answers, Tokens, Biometrics, Pin, Security Certificates.

By End Use Industry: Public Sector, Retail & Consumer Goods, Telecommunications, Media & Entertainment, Travel & Hospitality, Healthcare, Education, Others

By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

Key Takeaways

  • Increasing number of cyber-attacks and centralized security and management will enhance the cloud identity management.
  • Growing popularity of BYOD (bring your own devices) in developing countries will catalyse the demand for IAM cloud.
  • Government regulations will propel the growth of cloud management in the forecast period.
  • Increasing demand for distributed software applications across industries will accelerate the growth of cloud IAM.

Public Cloud Deployment mode held the major market share in 2020 with a share of 44.6%. The major market share of public cloud deployment is due to the low cost. Private Cloud provider solutions are set to grow at highest rate during the forecast period 2020-2025 owing to the high adoption in many firms. Rendering the private cloud provides virtually infinite computing power and enables the user to create realistic and high resolution images.

Private Cloud deployment provides greater flexibility, scalability, and improved performance over the traditional deployment model. Many major players such as IBM, Google, and others provide IAM solutions through public cloud based models owing to the reduced security risk through improved controls. This drives the cloud based deployment of consumer IAM solutions.

BFSI, IT & Telecom, and retail will have the largest share in the Cloud IAM market in the forecast period with BFSI sector growing at the highest rate of 26.1%. Banking, financial services, and insurance sector organisations are using cyber security solutions for detecting, monitoring, and countering cyber threats. In Healthcare sector, the adoption of cloud IAM solutions has been increasing and they are mainly used for securing sensitive data of patients and providing easy access to the services of medical institutes.

This is done utilizing Behavioural analytics, Identity authentication, Multi factor authentication, Access management and Smart access control solutions, Personal identifying information In healthcare industry, IAM solutions helps in reducing human error and improve the security by protecting patient information. Additionally, evolution of global pandemic disease is poised to provide opportunities for cloud IAM solutions in this industry.

North America will dominate the Cloud IAM Market during the forecast period and held a share of 33.7% in 2020. This is followed by Europe and Asia Pacific. Asia Pacific is expected to show the highest growth due to the factors such as adoption of cloud by SMEs in the region and development in enterprise IT infrastructure. In addition to these, early adoption of advanced technologies in Bring Your Own Devices in this region boosts the market growth.

In the U.S., identity threats highly target businesses. Hence, the necessity to meet compliance requirements for securing consumer identity protection drives the market growth. As stated by Forgerock, 2.8 billion consumer data records were exposed in US at an estimated cost of more than $654 billion in 2019. Adding to this, the growing investments in the IT security is further contributing to the market growth rate. A huge sum of $114B is invested by enterprises in information security products and services in 2019.

Cloud Identity Access Management Market Drivers

Rising Frequency of Data Thefts

Increasing data security has become concern in the small, medium and large scale enterprises. Taking measures for the prevention of data breach has become a priority in IT security teams. Cloud Identity and Access management solutions offer end to end data security features, specifically for consumer identities, owing to which they serve as good prospects for decreasing the risks of data thefts. Therefore, the demand of cloud identity and access management solutions is increasing and this drives the market growth.

Security of data & other applications systems are involved primarily in any organization that it make sure the right entity gets the access to the authorized data in an accredited format. IAM gives the authorization to the administrates who can take decision or action specifying full control & visibility to manage the cloud resources and the users get access only to what they need to get the job done.

Increasing usage of IoT and Smart Devices

Increasing adoption of IoT and smart devices in industries have created demand for consumer identity and access management solutions. Increase in number of mobile devices among enterprises has posed issues for data management in various systems which increased the threat of cybercrimes. Thus, organizations have been adopting advanced authentication security solutions in order to protect sensitive information of consumers.

Cloud Identity Access Management Market Challenges

Poor Identity Standards across Organizations

The increasing number of cyber threats owing to the poor regulatory is impacting the market growth rate. Advanced versions of IAM solutions handle more complex services. This creates a cost hurdle to the organizations. The lack of identity standards and insufficient resources in terms of budget, coupled with the high installation costs of these solutions, are significantly hindering the growth of the Cloud IAM solutions market.

Cloud Identity Access Management Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Cloud IAM Market. IBM, Microsoft, Salesforce, SAP, Okta, CA Technologies, Acuant Inc, Janrain, LoginRadius, Ping Identity, Imprivata and Akamai are considered to be the key players of the Cloud IAM Market.

Acquisitions/Technology Launches/Partnerships

  • In April 2019, Imprivata had launched IAM cloud platform for healthcare in collaboration with Microsoft. Introduction new platforms for healthcare industry increase the Company’s consumer IAM market share.
  • In January 2019, Akamai Technologies had acquired Janrain. This acquisition has enabled Akamai Company in strengthening its Company position. This drives the market growth.

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Table of Contents

1. Cloud Identity Access Management Market Overview
1.1 Definitions and Scope
2. Cloud Identity Access Management Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By End Use Industry
2.3 Key trends segmented by Geography
3. Cloud Identity Access Management Market - Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Cloud Identity Access Management Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Porters five force model
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining powers of customers
4.3.3 Threat of new entrants
4.3.4 Rivalry among existing players
4.3.5 Threat of substitutes
5. Cloud Identity Access Management Market - By Strategic Analysis (Market Size -$Million/Billion)
5.1 Value Chain Analysis
5.2 Opportunities Analysis
5.3 Product Life Cycle/Market Life Cycle Analysis
6. Cloud Identity Access Management Market - By Component (Market Size -$Million/Billion)
6.1 Solution
6.1.1 Directory Services
6.1.2 Identity Proofing/Verification
6.1.3 Identity Authentication
6.1.4 Identity Analytics
6.1.5 Behavioral Analytics
6.1.6 Single-Sign On
6.1.7 Access Management
6.1.8 Data Governance
6.1.9 CASB
6.1.10 SIEM
6.2 Services
6.2.1 Training and Education
6.2.2 Advisory and Implementation
6.2.3 Support
7. Cloud Identity Access Management Market - By Authentication Type (Market Size -$Million/Billion)
7.1 Password
7.2 Knowledge Based Answers
7.3 Tokens
7.4 Biometrics
7.5 Pin
7.6 Security Certificates
8. Cloud Identity Access Management Market - By End Use Industry (Market Size -$Million/Billion)
8.1 Public Sector
8.2 Retail and Consumer Goods
8.3 Telecom
8.4 Media and Entertainment
8.5 Travel and Hospitality
8.6 Healthcare
8.7 Education
8.8 Others
9. Cloud Identity Access Management Market - By Deployment (Market Size -$Million/Billion)
9.1 PaaS
9.2 IaaS
9.3 SaaS
10. Cloud Identity Access Management Market - By Cloud Type (Market Size -$Million/Billion)
10.1 Public Cloud
10.2 Private Cloud
10.3 Hybrid Cloud
11. Cloud Identity Access Management Market - By Organization Size (Market Size -$Million/Billion)
11.1 SMEs
11.2 Large Enterprises
12. Cloud Identity Access Management Market - By Geography (Market Size -$Million/Billion)
12.1 North America
12.1.1 U.S
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 Germany
12.2.2 France
12.2.3 UK
12.2.4 Italy
12.2.5 Spain
12.2.6 Russia
12.2.7 Netherlands
12.2.8 Others
12.3 APAC
12.3.1 China
12.3.2 Japan
12.3.3 South Korea
12.3.4 India
12.3.5 Australia
12.3.6 Indonesia
12.3.7 Malaysia
12.3.8 Others
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Chile
12.4.4 Colombia
12.4.5 Others
12.5 RoW
12.5.1 Middle East
12.5.2 Africa
13. Cloud Identity Access Management Market - Market Entropy
13.1 New product launches
13.2 M&A's, collaborations, JVs and partnerships
14. Cloud Identity Access Management Market - Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10