Cloud Identity and Access Management (IAM)

Cloud Identity and Access Management (IAM)

Global Cloud Identity and Access Management (IAM) Market to Reach US$37.9 Billion by 2030

The global market for Cloud Identity and Access Management (IAM) estimated at US$7.6 Billion in the year 2023, is expected to reach US$37.9 Billion by 2030, growing at a CAGR of 25.8% over the analysis period 2023-2030. User Provisioning Component, one of the segments analyzed in the report, is expected to record a 26.2% CAGR and reach US$16.4 Billion by the end of the analysis period. Growth in the Single Sign-on Component segment is estimated at 27.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.7 Billion While China is Forecast to Grow at 29.1% CAGR

The Cloud Identity and Access Management (IAM) market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2030 trailing a CAGR of 29.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 21.3% and 22.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 22.7% CAGR.

Global Cloud IAM Market - Key Trends & Drivers Summarized

What is Cloud IAM and Why is it Important?

Cloud Identity and Access Management (IAM) is a critical component of modern cybersecurity frameworks, providing a centralized platform for managing digital identities and access permissions across cloud-based resources. By leveraging Cloud IAM, organizations can streamline the process of granting, revoking, and monitoring access to their digital assets, ensuring that only authorized users have access to sensitive information. This technology is essential for maintaining regulatory compliance and protecting against data breaches, as it enforces strict access controls and provides detailed audit trails. With the rise of remote work and the proliferation of cloud services, Cloud IAM has become indispensable for businesses seeking to secure their cloud environments effectively.

How Does Cloud IAM Enhance Security?

The security benefits of Cloud IAM are manifold, addressing various vulnerabilities that traditional on-premises IAM solutions cannot. One of the primary advantages is the ability to implement multi-factor authentication (MFA), which adds an extra layer of security by requiring users to provide multiple forms of verification before gaining access. Additionally, Cloud IAM enables the use of single sign-on (SSO), allowing users to access multiple applications with a single set of credentials, thereby reducing password fatigue and the risk of credential theft. Advanced threat detection and response capabilities are also integrated into many Cloud IAM solutions, using machine learning algorithms to identify and mitigate suspicious activities in real-time. These features collectively enhance the overall security posture of organizations, making Cloud IAM a critical tool in the fight against cyber threats.

What Are the Key Trends in Cloud IAM Adoption?

Several trends are shaping the adoption of Cloud IAM, reflecting the evolving needs and challenges of modern enterprises. One significant trend is the increasing reliance on hybrid and multi-cloud environments, which necessitates robust IAM solutions capable of managing identities across diverse cloud platforms seamlessly. The integration of artificial intelligence (AI) and machine learning (ML) into IAM systems is another trend, enhancing the ability to detect anomalies and automate responses to potential security incidents. Furthermore, the growing emphasis on zero-trust security models, which require continuous verification of user identities and access privileges, is driving the adoption of more sophisticated Cloud IAM solutions. These trends indicate a shift towards more dynamic and adaptive security frameworks that can keep pace with the rapidly changing threat landscape.

What is Driving the Growth in the Cloud IAM Market?

The growth in the Cloud IAM market is driven by several factors, reflecting the increasing complexity and scale of digital transformation initiatives across industries. Firstly, the exponential rise in cyberattacks and data breaches has heightened awareness about the need for robust access management solutions, prompting organizations to invest in Cloud IAM technologies. Secondly, regulatory requirements such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) mandate stringent access controls and identity management practices, compelling businesses to adopt compliant IAM systems. The proliferation of remote work and the demand for secure, seamless access to corporate resources from anywhere also fuel the adoption of Cloud IAM. Additionally, the rapid expansion of the Internet of Things (IoT) ecosystem necessitates scalable IAM solutions capable of managing a vast number of devices and their associated identities. Finally, the competitive landscape of the cloud service market, with major providers continually enhancing their IAM offerings, contributes to the overall growth and innovation in this sector. These drivers collectively underscore the critical role of Cloud IAM in safeguarding digital assets and ensuring compliance in an increasingly interconnected world.

Select Competitors (Total 111 Featured) -

• Amazon Web Services, Inc.
• Capgemini SE
• Centrify Corporation
• CyberArk Software Ltd.
• Deloitte Touche Tohmatsu Ltd.
• Avatier
• Dashlane, Inc.
• Dell Technologies, Inc.
• GlobalSign, Inc.
• Alibaba Cloud
• Hitachi ID Systems, Inc.
• 8K Miles Software Services
• Auth0® Inc.
• Empowerid
• Entrust Corporation

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