Global Cloud Identity and Access Management (IAM) Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Components (Access Management, User Provisioning, Directory Services, Single Sign-On, Password Management, Audit, Governance, & Compliance Management), End-User (Small and Medium Enterprises, and Large Companies), Vertical (Telecommunications and IT, BFSI, Energy, Public Sector and Utilities, Oil and Gas, Healthcare, Construction, Manufacturing, and Retail) & Region - Industry Forecast From 2024 to 2032

Updated On: June, 2024
ID: 10885
Pages: 150

Global Cloud IAM Market Size (2024 to 2032)

The global Cloud IAM market was worth USD 12.91 billion in 2023. The global market is predicted to reach 16.23 billion in 2024 and USD 101.16 billion by 2032, growing at a CAGR of 25.70% during the forecast period.

Cloud Identity and Access Management (IAM) as a Service is an approach to managing digital identities on the cloud by a Cloud Service Provider (CSP) or Managed Service Provider (MSP). In the service delivery system, IAM is displayed in the form of software as a service for companies or individuals who depend on the service provider to use a particular functionality for administration identification to complete electronic transactions. Cloud IAM solutions can also purchased as a subscription-managed service. For example, suppose an association only wants its users to access the password management feature authorized by a Cloud IAM provider. In that case, it might only pay for that particular service and only for the users who will use it. Cloud IAM solutions have little to no on-premises foundation. In the IAM cloud, a CSP or MSP hosts an application to accommodate subscribers with role-based access to any organization-specific application, system, and proprietary data.

Identity and Access Management (IAM) is the business framework that encompasses organizational methods and technologies for leading electronic or digital identities. The products depend on role-based access control and allow individual users to perform specific tasks according to the described role in the company. The IAM framework is gaining importance as an automated means to initiate, capture, record, and manage user identities.

MARKET DRIVERS

The growing recognition of Bring Your Own Device (BYOD) and a variety of mobility movements in associations have increased security measures to authenticate the end-user machine, driving demand for the cloud IAM market.

Some limitations related to the cloud IAM market are security measures in cloud environments, lack of belief in cloud IAM providers, and insufficient knowledge. Many cloud IAM resellers aim to augment lower-value, more secure IAM solutions, which have been modified in accordance with end-consumer regulations.

As a result, the increasing number and complexity of cyberattacks, BYOD guidelines accepted by various organizations, growing acceptance of cloud services, national security measures, and administration and management compliance are the other main features driving the development of the global cloud IAM market. Several of the main characteristics that hamper the market are due to a lack of confidence and incompetence in declaring the individuality of cloud services and applications. Furthermore, the increasing adoption of solutions among companies and maturing IoT trends are poised to bring new opportunities to the market in the near future.

Blockchain technology gradually entered the IAM area to create a platform that would protect individual identities from theft or the victim of various fraudulent activities. Companies have integrated blockchain technology into IAM to solve authentication and authorization issues. Blockchain technology offers a decentralized and reasonably secure way to store and verify proof of identity credentials. Blockchain technology in IAM systems helps users create, test, and register their own identity and associated credentials to use digital services. Blockchain-enabled IAM systems in organizations would help reduce operational risk and costs by eliminating the need for siled or replicated repositories and identity data. However, the widespread acceptance of blockchain technology in IAM requires the availability of open source, simple financial models, respect for privacy by design, and an acceptable user experience.

Identity and Access Management continually evolves various critical functions, such as authentication and data security, to meet privacy compliance requirements. Artificial intelligence and machine learning in IAM are expected to be a growing trend. Artificial intelligence in identity management is expected to revolutionize security beyond people, places, and things, as the increasing number of devices and systems will communicate and learn from each other without the intervention of humans. It provides contextual information to technical and non-technical employees, enabling them to work more efficiently. IAM providers have begun adding behavioral data analytics through machine learning to improve security tactics. For example, machine learning can analyze user login attempts and detect suspicious behavior, such as guessing a password. Similarly, Ping Identity, a US software company, uses AI-based analytics to monitor an organization's application programming interface (API) activity.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2032

Base Year

2023

Forecast Period

2024 to 2032

CAGR

25.7%

Segments Covered

By Component, End User, Verticals, and Region.

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

  Market Leaders Profiled

Ping Identity Corporation, Onelogin Inc., Okta, Intel, IBM Corporation, Sailpoint Technologies Inc., EMC Corporation, Dell, CA Technologies, Microsoft, Centrify Corporation, HP Oracle and Others.

 

REGIONAL ANALYSIS

The North American region dominates the market during the forecast period. Asia Pacific is significantly growing due to the advancement in the small and medium industries in countries like South Korea, China, Japan, the United Kingdom, and India, which are other aspects that contribute to the development of the worldwide cloud IAM market.

KEY PARTICIPANTS IN THE GLOBAL CLOUD IAM MARKET

The major players operating in the global cloud IAM market include Ping Identity Corporation, Onelogin Inc., Okta, Intel, IBM Corporation, Sailpoint Technologies Inc., EMC Corporation, Dell, CA Technologies, Microsoft, Centrify Corporation, HP, and Oracle.

RECENT HAPPENINGS IN THE GLOBAL CLOUD IAM MARKET

  • In August 2019, IBM Corporation partnered with Imprivata, an IT security company, to launch a cloud-based identity and access management tool to help customers of both companies manage procurement, tracking, and deprivation. Of its users in its hybrid environment, both local and cloud.

DETAILED SEGMENTATION OF THE GLOBAL CLOUD IAM MARKET INCLUDED IN THIS REPORT

This research report on the global cloud IAM market has been segmented and sub-segmented based on the components, end-user, verticals, and region.

By Components

  • Password Management and Auditing

  • User Provisioning

  • Access Management

  • Directory Services

  • Single Sign-On

  • Authority Management

  • Compliance

By End User

  • Small and Medium-Sized Enterprises (SMEs)

  • Large Companies

By Verticals

  • Telecommunications and IT

  • BFSI

  • Energy

  • Public Sector and Utilities

  • Oil and Gas

  • Healthcare

  • Construction

  • Manufacturing

  • Retail

By Region

  • North America

    • The United States

    • Canada

    • Rest of North America

  • Europe

    • The United Kingdom

    • Spain

    • Germany

    • Italy

    • France

    • Rest of Europe

  • The Asia Pacific

    • India

    • Japan

    • China

    • Australia

    • Singapore

    • Malaysia

    • South Korea

    • New Zealand

    • Southeast Asia

  • Latin America

    • Brazil

    • Argentina

    • Mexico

    • Rest of LATAM

  • The Middle East and Africa

    • Saudi Arabia

    • UAE

    • Lebanon

    • Jordan

    • Cyprus

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Frequently Asked Questions

Can Cloud IAM solutions accommodate the scalability needs of large multinational enterprises?

Yes, Cloud IAM solutions are designed to be scalable and can effectively meet the identity and access management demands of large multinational enterprises, providing flexibility and adaptability.

What role does multi-factor authentication play in the Global Cloud IAM landscape?

Multi-factor authentication is a crucial component in Cloud IAM, adding an extra layer of security by requiring users to verify their identity through multiple methods, significantly reducing the risk of unauthorized access.

What are the primary challenges faced by organizations implementing Cloud IAM on a global scale?

Challenges include integrating with legacy systems, managing diverse regulatory requirements, and ensuring a smooth transition for globally dispersed user bases, which require careful planning and execution.

How is the competitive landscape shaping up within the Global Cloud IAM Market?

The market is witnessing increased competition with key players focusing on innovation, strategic partnerships, and mergers to strengthen their offerings. This dynamic landscape is driving advancements in Cloud IAM technologies globally.

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