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Editing: 7; Published: February 2022
Executive Pool: 93282
Companies: 111 – Players covered include Amazon Web Services; Broadcom, Inc.; Centrify Company; Dell Technologies; Google Cloud; HP Enterprise; IBM Corporation; intel company; Micro focus; Microsoft Corporation; Okta, Inc.; OneLogin, Inc.; Oracle Corporation; Ping Identity Corporation; Sailpoint Technologies Inc.; Salesforce.com, Inc.; Ubisecure, Inc. and others.
Blanket: All major geographies and key segments
segments: Component (user provisioning, single sign-on, governance and compliance management, multi-factor authentication, access management, other components); End use (large companies, SMEs); Vertical (IT & Telecom, BFSI, Retail, Healthcare, Media & Entertainment, Education, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.
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Global Cloud Access and Identity Management (IAM) Market to Reach US$13.6 billion by 2026
Identity and Access Management (IAM) in enterprise computer networks refers to the management of access privileges for individuals operating on a network. IAM also deals with specifying and managing scenarios in which privileges should be granted or denied to a user. Users can be customers or employees. IAM systems primarily work by creating a unique digital identity for each individual, which is then maintained, monitored, and modified throughout the user’s access lifecycle. The growth of the global market is attributed to the numerous benefits offered by Cloud IAM including compliance management and centralized security management among others. The rise in cyber fraud cases is also increasing the relevance of cloud IAM. The growth of the market is also fueled by the growing trend of BYOD (bring your own device) in countries around the world. The growing demand for cost-effective, flexible, and scalable IAM has increased the popularity of cloud-hosted IAM in recent years. The growing adoption of SaaS models by small and medium-sized enterprises (SMBs), the growing importance of two- and multi-factor authorization, and a tremendously large need to provide and remove access to users on a constant basis constitute the other major factors contributing to the growth of the market. .
Amid COVID-19 Crisis, Global Cloud Identity Access and Management (IAM) Market Estimated at US$5.3 billion in 2022, is expected to reach a revised size of US$13.6 billion by 2026, growing at a CAGR of 26.7% over the analysis period. User provisioning, one of the segments analyzed in the report, is expected to grow at a CAGR of 27.3% to reach 7 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Single Sign-on segment is readjusted to a revised CAGR of 28.6% for the next 7-year period. This segment currently represents a 16.2% share of the global Cloud Identity Access and Management (IAM) market.
The US market is estimated at $2.1 billion in 2022, when China is expected to reach $1.7 billion by 2026
The Cloud Identity Access and Management (IAM) market in the United States is estimated at US$2.1 billion in 2022. The country currently accounts for a 40.58% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$1.7 billion in 2026 with a CAGR of 30.8% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 22.3% and 23.7% respectively over the analysis period. In Europe, Germany is expected to grow around 23.8% CAGR while the rest of the European market (as defined in the study) will reach US$663.5 million at the end of the analysis period. North America constitutes the major regional market for IAM cloud solutions owing to the well-developed economies, increased adoption of sophisticated technologies such as IoT and IP-based devices, increased penetration of mobile telephony and rise cases of digital crime and cyberattacks, among others. However, strong growth over the next few years is expected to be recorded in China and Asia Pacific. In the Asia Pacific and in many European markets, increased deployment of cloud-based IAM solutions is expected in emerging end-user industries such as media and entertainment, sports, and government.
Governance and compliance management segment to be achieved $1.6 billion by 2026
The increased focus on data governance in the North American and European markets bodes well for IAM solution providers. In the EU, the recent GDPR (General Data Protection Regulation) was primarily created to enhance data security in the EU, while in the US, companies are expected to focus more on data security and governance, especially when it comes to sensitive data. Organizations in countries around the world are also realizing the importance of enhanced security solutions requiring decision-based identity assurance. These systems monitor threat warnings allowing organizations to track suspicious activity. The systems allow organizations to add additional layers of security. In the global governance and compliance management segment, United States, Canada, Japan, China and Europe will drive the CAGR of 23.4% estimated for this segment. These regional markets representing a combined market size of US$298.9 million will reach a projected size of US$1.4 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$188.7 million by 2026.
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About Global Industry Analysts, Inc. and StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving over 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for over 33 years.
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