Despite complexities in its adoption process, the global IOT- identity access management market is evolving at a considerable pace. Market Research Future, a firm which specializes in market reports related to the Semiconductor & Electronics sector among others, published in its recent report on IOT- Identity Access Management Market Research Report- Global Forecast 2022 that the market is expected to grow from USD 8 billion in 2016 to USD 20 billion by 2022, at an expected CAGR of 16%.
The demand for identity access management has increased drastically because organizations need frameworks for their business practices that enable the management of digital identities. Subsequently, this moreover enables IT managers to regulate user access so that the information critical to the organization does not land in the wrong hands. Identity access management is also effective in ensuring reduced costs for identity management thereby effectively supplement business goals. The development of this sector is further influenced by the rising rate of adoption of cloud services, the concept of bring your own devices and rising levels of consumer centric identity access management softwares to name a few. The market growth trajectory can be restricted though due to differentiated techniques due to various vendors.
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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 20 billion by the end of year 2022 with the 16% of compound annual growth rate.
Latest Industry News:
Dec 2017 IBM as part of an effort to make various forms of identity access management (IAM) software more easily accessible, opened an online marketplace through which IT organizations can download multifactor security software from IBM and others. The IBM Security App Exchange is intended to make it simpler for IT security teams to evaluate multiple approaches to multifactor authentication spanning everything from hardware-based tokens, to biometrics.
Sep 2017 SAP, best known for its durable enterprise apps and the HANA in-memory database, is expanding its presence in another direction: customer identity and access management. The Walldorf, Germany-based company said recently that it is in the process of acquiring Gigya, considered one of the world’s leading vendors in that category. The terms of the transaction were not disclosed, but one published report estimated the deal to be worth about $350 million. Gigya’s customer identity and access management platform enables enterprises to build effective, lasting relationships with their customers. Its platform allows companies to manage customers’ profile, preference, and opt-in and consent settings, with users maintaining control of their data at all times. Gigya said it currently manages 1.3 billion customer identities.
Dec 2017 Australia’s Department of Defence has handed a $17.5 million contract to Oracle for the 12-month provision of software support for database, identity and access management software licenses. The database software that Oracle supports is used extensively across Defense for business and capability related activities, with the latest deal likely following on from an earlier $113.6 million, year-long contract which was set to expire this month, for the provision of software licenses and support.
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Global IOT- Identity Access Management Market – Segments
On The Basis Of Services: User Provisioning, Multi-Factor Authentication, Directory Services, Password Management, Access Management and Single-Sign-On (SSO) among Others.
On The Basis Of Deployment: On-Cloud, On-Premise and Hybrid.
On The Basis Of Industry: Small And Medium Enterprises (SME’s) And Large Enterprises among Others.
On The Basis Of End-User: IT & Telecom, Government, Energy & Utility Services, Education, Retail & E-Commerce, Banking & Financial Services, Media & Entertainment and Manufacturing among Others.
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
- Cyber security providers
- System integrators
- Government organizations
- Security service providers
- Consultancy firms
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