Rising Security Issues are Propelling the Global Cloud Identity and Access Management (IAM) Market

The cloud IAM market is growing significantly at a CAGR of 13.2% during the forecast period owing to increasing demand for centralized management systems and growing awareness of compliance management. Cloud IAM facilitates the management of digital or electronic identities across various business processes. Further, Bring your own Device (BYOD) policy has also contributed to the market growth. Additionally, an increase in the utility of cloud-based platforms for software development across several applications is again supporting the growth of the cloud IAM market. 

Browse the full report description of "Global Cloud Identity Access Management (IAM) Market Size, Share & Trends Analysis Report by Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), by Solution (Advanced Authentication, Audit Compliance, and Governance, Directory Services, Password Management, Provisioning, and Single Sign-On), and by Vertical (BFSI, IT and Telecommunication, Healthcare, Government, Energy and Utilities, Manufacturing, and Others) Forecast Period (2022-2028)" at https://www.omrglobal.com/industry-reports/cloud-identity-access-management-iam-market

The cloud IAM facilitates businesses to access online resources securely by providing protection to the digital interactions of customers, employees, and partners. Furthermore, a significant number of small, medium, and large enterprises are using software-as-a-service models to enhance their safety and security. The cloud IAM enables enterprises to maintain multi-factor authentication effectively and efficiently by allowing provision and de-provision of users.  

The major market player of the cloud IAM market are actively adopting growth strategies such as mergers and acquisitions, partnerships, collaboration and agreements to improve their dominance among competitors. Technological innovation and new product launches are the core strength of key market players in the cloud computing market. For instance, in October 2018, IBM has acquired Red Hat an IT solution provider company. This acquisition is done to address the demand of client for hybrid multi-cloud adoption. This acquisition will facilitate the client to create cloud-native business applications faster, drive greater portability and security of data and applications across multiple public and private clouds along with consistent cloud management.

Current market trends covered in the market report

• Companies are enhancing their security controls and making significant investments in security talent, tools, and expertise for dealing with the increasing threat from evolved hacking techniques.
• Significant adoption of cloud services across the globe 
• Partnerships and collaborations – key drivers of competition in this market
• Shifting of the service-centric population to server-centric population.
• Asia-Pacific to show lucrative growth during the forecasted year.
• North America held the major share in the cloud infrastructure service market

Cloud Computing Market Segmentation

By Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Solution 

• Advanced Authentication
• Audit Compliance, and Governance
• Directory Services
• Password Management
• Provisioning
• Single Sign-On

By Vertical

• BFSI
• IT And Telecommunication
• Healthcare
• Government and Utilities
• Energy
• Retail
• Manufacturing
• Education
• Others

Cloud Computing Market – Segment by Region 

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa 
• Latin America