Global Cloud Identity And Access Overview
Cloud Identity and Access Management Software Market helps organization policies and technologies for managing electronic or digital identities. The products are mainly based on role-based access and allow individuals users to perform specific tasks according to the role defines in the enterprise.
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 growth of the global market. In addition, 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 OpenCircus Organization in 2017, 65% of data center traffic is cloud based, and this is likely to reach 83% by 2019. However, issues related to implementation roadmap and lack of trust in cloud IAM software and assignment of security policies to specific users are some of the factors hampering growth of the target market. Nevertheless, IAM is anticipated to witness significant demand for distributed software applications across industries which is current trend observed for the growth of the global market. In addition, rising popularity of bring your own device (BYOD) in enterprises globally is also boosting growth of the target market.
The global cloud identity and access management software market is segmented based of size of organization, solution, deployment, end-user vertical, and region.
Based on size of organization, the global market is segmented into SMES and large organizations. On the basis of solution, the global market is bifurcated into audit, compliance, and governance, single sign-on (SSO) and federated provisioning, privileged access management, and directory service. Based on deployment, the target market is segmented into public, private, and hybrid. Public cloud segment holds largest market share due to increasing adoption across different verticals. Moreover, hybrid cloud segment is anticipated to witness significant growth over the forecast period, owing to growing adoption among small- and medium-sized enterprises. On the basis of end-user vertical, the target market is classified into BFSI, healthcare, retail, entertainment & media, it & telecommunication, and education.
Based on region the global cloud identity and access management software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North American dominates the target market, owing to most of the cloud advanced organizations, along with the high number of startups in the region. Europe and Asia-pacific is anticipated to witness significant demand for cloud IAM, owing to uptake of cloud-hosted technologies among enterprises in industries such as sports, media, entertainment, and gowernemnt.
Global Cloud Identity And Access Competitive Landscape & Key Players
Key players operating in the global cloud identity and access management software 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. Technological advancements in the product as well as in, product launches, and strategic partnerships are some trends witnessed in the global market. For instance, 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 cyber security offerings to its cloud computing customers. The grouping of these two giants may simplify things for end users.
FAQs
The Cloud Identity and Access Management Software Market accounted for US$ 2.2 billion in 2022 and is estimated to be US$ 4.0 billion by 2032 to grow at CAGR of 6.4%.
The Cloud Identity and Access Management Software Market is segmented into size of organization, solution, deployment, end-user vertical, and region.
Increasing emphasis on secure and efficient user authentication, demand for centralized access control, and the adoption of cloud-based IAM solutions for managing digital identities drive the growth of the cloud identity and access management software market globally.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the target 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.