Internet of things and Access Management market is growing at a rapid pace owing to the factors such as rising bring your own device (BYOD) trend, and increase in frequency of cyber-attacks. Several IoT product & service providers has started adopting various device identity & access technologies into IoT platforms to simplify security designs in IoT deployments. This situation accelerates the adoption of IoT & access management market. According to a recent study report published by the Market Research Future, The global market of IoT & Access Management is increasing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The IAM application software tools are used by all organizations ranging from small IT departments to large global IT departments. The IAM application tools can also be customized for global IT departments. The major driving factors for growth of IOT- identity access management market are the growing adoption of cloud services, merchandising of functions of identity access management, boosting consumer-grade identities by social media & bring your own device (BYOD) and rising consumer centric identity access management.
The study indicates that, most IoT device manufacturers and platform providers are not well equipped to serve the authentication need and the number of diverse IoT authentication data with internal technology. As a result, the providers are associated with very less authentication providers or product specialists based on stable partnerships.
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Major Key Players
IBM Corporation (U.S.),
Microsoft Corporation (U.S.),
Hitachi, Ltd. (Japan),
EMC Corporation (U.S.),
Intel Security Group (U.S.),
Siemens AG (Germany),
Oracle Corporation (U.S.),
ARCON Tech Solutions (India),
Cloud Security Alliance (U.S.)
CA Technologies (U.S.)
The Global IOT- Identity Access Management Market is expected to grow at USD 24 billion by the end of year 2022 with the 16% of compound annual growth rate.
13 Jun 2017 – IBM a prominent player in IoT&Access Management Market, announced a new service, delivered through the IBM Cloud, designed for managing how employees gain access to their preferred business applications. IBM Cloud Identity Connect is a new Identity-as-a-Service (IDaaS), which helps provide users with rapid access to thousands of popular cloud apps while enabling single sign-on (SSO) to their applications, whether from the cloud or on-premise
25 September 2017 – Microsoft a major player in IoT & access management market, has designed a solution named as zero-touch, the technology is about giving devices identities to connect to a cloud. The solution originates with anchoring trust in secure silicon, from which standards are used to derive device unique certificate identities that are ingested, authenticated, and lifecycle managed at scale by Azure Device Provisioning Service (DPS).
November 15, 2017 – Hitachi ID offers a comprehensive suite of identity management, access governance, privileged access management and password management solutions including remote access via mobile devices. Hitachi ID solutions improve IT security, support internal controls and regulatory compliance, lower access administration and IT support cost and improve user satisfaction. The Hitachi ID Suite grants and revokes access both on-premises and on cloud-hosted systems and applications.
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North America is dominating the Global IoT & Access Management Market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022 due to presence of high number of IoT solution providers and rising adoption of innovative technologies. However, it is anticipated that the market in Europe will exhibit higher growth rate compared to the North America market in the near future. Further, the growing adoption of digitalization in developing countries such as Australia, China, and Japan, Asia Pacific market is intended to show an impressive growth in the coming years. Asia-Pacific has emerged as fastest growing market and expected to be the second biggest market by the end of forecast period. In addition, countries such as Argentina and Brazil are aiding the Latin America market to expand. The increasing rate of IoT adoption over the oil and gas industry and throughout the government sector is most likely to help the Middle East and Africa sector grow.
- Cyber security providers
- System integrators
- Government organizations
- Security service providers
- Consultancy firms
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