Cloud Identity and Access Management Market By Component (Solution, Service), By Offering (User Provisioning, Single Sign-on, Access Management, Multi-Factor Authentication, Password Management, Others), By Deployment Mode (Public, Hybrid, Private), By In

Cloud Identity and Access Management Market By Component (Solution, Service), By Offering (User Provisioning, Single Sign-on, Access Management, Multi-Factor Authentication, Password Management, Others), By Deployment Mode (Public, Hybrid, Private), By Industry Vertical (BFSI, Healthcare, IT and telecom, Retail and e-commerce, Government and defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Cloud identity and access management (IAM) is a security and business discipline that includes multiple technologies and business processes to help the right people or machines access the right assets at the right time for the right reasons while keeping unauthorized access and fraud at bay. Cloud identity and access management is a vital initiative for any enterprise because it supports the crucial need to enable appropriate access to tools and resources in increasingly diverse technological ecosystems and to comply with ever-changing privacy and security regulations. IAM affects many aspects of the enterprise, not just IT, and requires strategic business planning in addition to specialized technical capabilities.  

Growing emphasis on remote work environments across regions is one of the major driving factors for the cloud identity and access management market. With a substantial portion of the global workforce operating in non-traditional office environments, organizations are faced with heightened cybersecurity risks. The presence of remote employees who gain access to corporate networks and sensitive information from different locations and devices leads to vulnerabilities that malicious individuals exploit. Thus, there is a growing demand for real-time identification, monitoring, and response capabilities provided by cloud identity and access management solutions. These solutions enable organizations to safeguard remote access points, detect and mitigate threats aimed at remote workers, and ensure secure connectivity, making them essential in the current landscape of remote work.

Furthermore, the market is profoundly influenced by considerable expenses related to cloud identity and access management solutions and services. Primarily, these expenses can serve as a deterrent for smaller and medium-sized enterprises (SMEs) with constrained budgets. SMEs may perceive cloud identity and access management as a financial burden, leading to insufficient investment in cybersecurity measures and rendering them vulnerable to cyber threats. In addition, even larger organizations may exhibit hesitation in allocating substantial resources to cloud identity and access management, particularly when faced with competing budgetary demands.

The notable factors positively affecting the cloud identity and access management market include growing number of cybersecurity breaches and identity-related fraud and increasing adoption of cloud computing and other connected technologies. However, lack of awareness regarding IAM solutions and complexity of advanced threats and fluctuating regulatory landscape can hinder market growth. However, the growing popularity of cloud based IAM solutions and services and rising adoption of emerging technologies such as AI, biometrics, and others offer lucrative market opportunities for market players. 

The cloud identity and access management market are segmented on the basis of component, offering, deployment mode, industry vertical, and region. On the basis of component, the market is segmented into solution and service. As per offering, the market is segmented into user provisioning, single sign-on, access management, multi-factor authentication, password management and others. According to deployment mode, the market is segmented into public, hybrid and private. Depending on industry vertical, the market is segmented into BFSI, healthcare, IT and telecom, retail and e-commerce, government and defense, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the global cloud identity and access management market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Accenture plc, Amazon Web Services Inc., Cognizant Technology Solutions Corporation, Google Inc., IBM Corporation, Microsoft Corporation, NTT Data Corporation, Okta Inc., Oracle Corporation, and Ping Identity.    

KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the cloud identity and access management market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on cloud identity and access management market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the cloud identity and access management market from 2022 to 2032 is provided to determine the market potential.

Key Market Segments

By Component

Solution
Service

By Offering

User Provisioning
Single Sign-on
Access Management
Multi-Factor Authentication
Password Management
Others

By Deployment Mode

Public
Hybrid
Private

By Industry Vertical

BFSI
Healthcare
IT and telecom
Retail and e-commerce
Government and defense
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

Google Inc.
Microsoft Corporation
Oracle Corporation
Ping Identity Corporation
Accenture plc
Okta Inc.
Amazon Web Services Inc.
IBM Corporation
NTT DATA CORPORATION
Cognizant Technology Solutions Corporation

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