Cloud Identity and Access Management Market worth US$ 2.8 billion in 2019 with a CAGR of 18.9%

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Published Date: May 2023

Growing investments in cloud IAM software as it requires less capital investment and assists in reducing operational and maintenance costs among others is the major factor driving the growth of the global market. Also, the growing acceptance of cloud-based management tools has opened up a world of possibilities for implementing IAM-as-a-service, a new approach that can increase business agility, reduce operating costs, and speed time to value, such a broad range of advantages and benefits are expected to drive the growth of cloud identity and access management software market over the forecast period. According to data published by Open Circus Organization in 2017, 65% of data centre traffic is cloud-based, and this is likely to reach 83% by 2019.Cloud Identity and Access Management Software Market accounted for US$ 2.8 billion in 2019 and is projected to register a moderate CAGR of 18.9% over the forecast period.

The report " Global Cloud Identity and Access Management Market, By Size of Organization (SMEs and Large Organizations), By Solution (Audit, Compliance, and Governance, Single Sign-On (SSO) and Federated Provisioning, Privileged Access Management, and Directory Service), By Deployment (Public, Private, and Hybrid), By End-user Vertical (BFSI, Healthcare, Retail, Entertainment & Media, IT & Telecommunication, and Education), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”. Global Cloud Identity and Access Management accounted for US$ 2.8 billion in 2019 with a CAGR of 18.9%.

Key Highlights:

In April 2018 Cyberark Software Ltd. has improved its cloud automation capabilities by incorporating CyberARK AMIs and AWS Cloud formation templates to provide advanced protection, especially in dynamic cloud environments.
In March 2018, IBM Corporation teamed up with Cloudflare, a billion-dollar tech startup headquartered in San Francisco, to provide a new set of cybersecurity offerings to its cloud computing customers. The grouping of these two giants may simplify things for end-users.

Key Market Insights from the report:

The Global Cloud Identity and Access Management market accounted for US$ 2.8 billion in 2019 and is projected to register a moderate CAGR of 18.9% over the forecast period. The market report has been segmented based on the property type.

Based on the size of the organization, the global Cloud Identity and Access Management market is segmented into SMEs and large organizations.
Based on the solution, the global market is segmented into audit, compliance, and governance, single sign-on (SSO) and federated provisioning, privileged access management, and directory service.
Based on deployment, the public cloud segment holds the largest market share due to increasing adoption across different verticals. Moreover, the hybrid cloud segment is anticipated to witness significant growth over the forecast period, owing to growing adoption among small- and medium-sized enterprises.
Based on end-user vertical, the target market is segmented into BFSI, healthcare, retail, entertainment & media, it & telecommunication, and education.

By region, Europe and Asia-pacific are anticipated to witness significant demand for cloud IAM, owing to the uptake of cloud-hosted technologies among enterprises in industries such as sports, media, entertainment, and government.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cloud Identity and Access Management Market”, By Size of Organization (SMEs and Large Organizations), By Solution (Audit, Compliance, and Governance, Single Sign-On (SSO) and Federated Provisioning, Privileged Access Management, and Directory Service), By Deployment (Public, Private, and Hybrid), By End-user Vertical (BFSI, Healthcare, Retail, Entertainment & Media, IT & Telecommunication, and Education), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

The prominent player operating in the Cloud Identity and Access Management market includes Cyberark Software Ltd., CA Technologies, IBM Corporation, Microsoft Corporation, Oracle Corporation, Okta Inc., Centrify Corporation, Sailpoint Technologies Holdings Inc., Auth Inc., and Dell Technologies, Inc.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period