Cloud identity and access management (IAM) is a security and business discipline that includes multiple technologies and business processes to help the right people or machines access the right assets at the right time for the right reasons while keeping unauthorized access and fraud at bay. Cloud identity and access management is a vital initiative for any enterprise because it supports the crucial need to enable appropriate access to tools and resources in increasingly diverse technological ecosystems and to comply with ever-changing privacy and security regulations. IAM affects many aspects of the enterprise, not just IT, and requires strategic business planning in addition to specialized technical capabilities.
Growing emphasis on remote work environments across regions is one of the major driving factors for the cloud identity and access management market. With a substantial portion of the global workforce operating in non-traditional office environments, organizations are faced with heightened cybersecurity risks. The presence of remote employees who gain access to corporate networks and sensitive information from different locations and devices leads to vulnerabilities that malicious individuals exploit. Thus, there is a growing demand for real-time identification, monitoring, and response capabilities provided by cloud identity and access management solutions. These solutions enable organizations to safeguard remote access points, detect and mitigate threats aimed at remote workers, and ensure secure connectivity, making them essential in the current landscape of remote work.
Furthermore, the market is profoundly influenced by considerable expenses related to cloud identity and access management solutions and services. Primarily, these expenses can serve as a deterrent for smaller and medium-sized enterprises (SMEs) with constrained budgets. SMEs may perceive cloud identity and access management as a financial burden, leading to insufficient investment in cybersecurity measures and rendering them vulnerable to cyber threats. In addition, even larger organizations may exhibit hesitation in allocating substantial resources to cloud identity and access management, particularly when faced with competing budgetary demands.
The notable factors positively affecting the cloud identity and access management market include growing number of cybersecurity breaches and identity-related fraud and increasing adoption of cloud computing and other connected technologies. However, lack of awareness regarding IAM solutions and complexity of advanced threats and fluctuating regulatory landscape can hinder market growth. However, the growing popularity of cloud based IAM solutions and services and rising adoption of emerging technologies such as AI, biometrics, and others offer lucrative market opportunities for market players.
The cloud identity and access management market are segmented on the basis of component, offering, deployment mode, industry vertical, and region. On the basis of component, the market is segmented into solution and service. As per offering, the market is segmented into user provisioning, single sign-on, access management, multi-factor authentication, password management and others. According to deployment mode, the market is segmented into public, hybrid and private. Depending on industry vertical, the market is segmented into BFSI, healthcare, IT and telecom, retail and e-commerce, government and defense, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global cloud identity and access management market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Accenture plc, Amazon Web Services Inc., Cognizant Technology Solutions Corporation, Google Inc., IBM Corporation, Microsoft Corporation, NTT Data Corporation, Okta Inc., Oracle Corporation, and Ping Identity.
Growing emphasis on remote work environments across regions is one of the major driving factors for the cloud identity and access management market. With a substantial portion of the global workforce operating in non-traditional office environments, organizations are faced with heightened cybersecurity risks. The presence of remote employees who gain access to corporate networks and sensitive information from different locations and devices leads to vulnerabilities that malicious individuals exploit. Thus, there is a growing demand for real-time identification, monitoring, and response capabilities provided by cloud identity and access management solutions. These solutions enable organizations to safeguard remote access points, detect and mitigate threats aimed at remote workers, and ensure secure connectivity, making them essential in the current landscape of remote work.
Furthermore, the market is profoundly influenced by considerable expenses related to cloud identity and access management solutions and services. Primarily, these expenses can serve as a deterrent for smaller and medium-sized enterprises (SMEs) with constrained budgets. SMEs may perceive cloud identity and access management as a financial burden, leading to insufficient investment in cybersecurity measures and rendering them vulnerable to cyber threats. In addition, even larger organizations may exhibit hesitation in allocating substantial resources to cloud identity and access management, particularly when faced with competing budgetary demands.
The notable factors positively affecting the cloud identity and access management market include growing number of cybersecurity breaches and identity-related fraud and increasing adoption of cloud computing and other connected technologies. However, lack of awareness regarding IAM solutions and complexity of advanced threats and fluctuating regulatory landscape can hinder market growth. However, the growing popularity of cloud based IAM solutions and services and rising adoption of emerging technologies such as AI, biometrics, and others offer lucrative market opportunities for market players.
The cloud identity and access management market are segmented on the basis of component, offering, deployment mode, industry vertical, and region. On the basis of component, the market is segmented into solution and service. As per offering, the market is segmented into user provisioning, single sign-on, access management, multi-factor authentication, password management and others. According to deployment mode, the market is segmented into public, hybrid and private. Depending on industry vertical, the market is segmented into BFSI, healthcare, IT and telecom, retail and e-commerce, government and defense, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global cloud identity and access management market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Accenture plc, Amazon Web Services Inc., Cognizant Technology Solutions Corporation, Google Inc., IBM Corporation, Microsoft Corporation, NTT Data Corporation, Okta Inc., Oracle Corporation, and Ping Identity.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the cloud identity and access management market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on cloud identity and access management market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the cloud identity and access management market from 2022 to 2032 is provided to determine the market potential.
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Key Market Segments
By Component
- Solution
- Service
By Offering
- User Provisioning
- Single Sign-on
- Access Management
- Multi-Factor Authentication
- Password Management
- Others
By Deployment Mode
- Public
- Hybrid
- Private
By Industry Vertical
- BFSI
- Healthcare
- IT and telecom
- Retail and e-commerce
- Government and defense
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Google Inc.
- Microsoft Corporation
- Oracle Corporation
- Ping Identity Corporation
- Accenture plc
- Okta Inc.
- Amazon Web Services Inc.
- IBM Corporation
- NTT DATA CORPORATION
- Cognizant Technology Solutions Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET, BY OFFERING
CHAPTER 6: CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET, BY DEPLOYMENT MODE
CHAPTER 7: CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: CLOUD IDENTITY AND ACCESS MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a recent report titled, “Cloud Identity and Access Management Market by Services, Deployment Mode, and Industry Verticals: Global Opportunity Analysis and Industry Forecast, 2021-2030”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 (IAM) management is a business security framework that manages digital identities, both inside and outside the enterprise. Factors such as increase in cyber-attacks, multi-factor authentication, centralized access management, and regulatory & compliance requirements drive the growth of the market. Security in cloud based environment, lack of trust in cloud IAM providers, and inadequate awareness are some of the restraints associated with cloud IAM market. Several cloud IAM vendors aim at developing more secure IAM solutions at less prices that are customized according to the specifications of the end consumers.
The COVID-19 pandemic has accelerated the adoption of cloud computing with cloud first and cloud only becoming mainstay IT approaches for companies of all sizes and types. The pandemic confined people to stay at home, shut down offices, halted transport, and virtually brought social & economical life to a halt. Cloud provides a virtual environment where employees can access all the information they normally do in a physical office. Documents and data can be safely accessed from any location. In addition to agility and flexibility, cloud offers greater levels of security for remote working. From user-specific passwords to encryption of files, cloud offers a wide variety of security tools. Other benefits include enablement of true mobility, easy update & maintenance of cloud-based systems, and effective backup & easy retrieval of lost or damaged data which is especially important when different teams have access to basic forms of home IT tools. Connected computers can automatically backup files, emails, or digital records to cloud-servers.
Renowned market players have adopted product launch and partnership as their key strategies to strengthen their technical expertise and enhance their market foothold. For instance, Ping Identity, one of the leader in Identity Defined Security, announced the release of PingCloud Private Tenant, a private cloud identity solution for the enterprise. PingCloud Private Tenant provides cloud identity and access management (IAM) by combining highly configurable capabilities within a dedicated environment. Enterprises can provide authentication for all users with a highly configurable global authentication authority that includes versatile single sign-on (SSO) and highly-scalable directory services, maintaining data and resource isolation. This allows global organizations the ability to automate IAM operations, simplify management, and achieve their cloud-first objectives.
On the basis of service, the single sign-on segment is expected to grow at a fastest rate during the forecast period. This is attributed to benefits, such as low IT cost and easy to manage identity life cycle, are driving the market for this segment. In addition, governments of various countries are investing considerably in single sign-on projects.
Region wise, the global cloud identity access management market was dominated by North America in 2021, and is expected to maintain this trend during the forecast period. The market is expected to grow in North America, owing to implemented governance regulations and need for organizations to adhere to these regulations. Around 380 new cyber security regulatory policies are being issued by the U.S. Government every year. Increase in cyber security concerns in North America is one of the major threats to domains such as BFSI, IT & Telecom, and retail. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period owing to increase in adoption of cloud IAM services by small & medium-sized businesses (SMBs) and burgeoning number of cyber-attacks in the region.
The cloud identity access management market has been positively impacted by the COVID-19 outbreak. This is attributed to the fact that consumer trends toward cloud IAM are changing and key players in the market are adopting technologies such as artificial intelligence-based solutions for authentication and security of employees.
Key Findings Of The Study
- By service, the user provisioning segment led the cloud identity access management market in terms of revenue in 2020
- Depending on deployment mode, the public segment accounted for the highest revenue in 2020
- As per industry vertical, the BFSI segment accounted for the highest cloud identity access management market share in 2020
- Region wise, North America generated the highest revenue in 2020
- The key players profiled in the cloud identity access management market analysis are 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
Companies Mentioned
- Google Inc.
- Microsoft Corporation
- Oracle Corporation
- Ping Identity Corporation
- Accenture plc
- Okta Inc.
- Amazon Web Services Inc.
- IBM Corporation
- NTT DATA CORPORATION
- Cognizant Technology Solutions Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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