Internet of Things (IoT) IAM

Global Internet of Things (IoT) IAM Market to Reach US$143.0 Billion by 2030

The global market for Internet of Things (IoT) IAM estimated at US$19.5 Billion in the year 2023, is expected to reach US$143.0 Billion by 2030, growing at a CAGR of 32.9% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 31.7% CAGR and reach US$82.6 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 34.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.7 Billion While China is Forecast to Grow at 31.8% CAGR

The Internet of Things (IoT) IAM market in the U.S. is estimated at US$5.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.2 Billion by the year 2030 trailing a CAGR of 31.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 29.1% and 28.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 22.9% CAGR.

Global Internet of Things (IoT) IAM Market - Key Trends and Drivers Summarized

Why Is Internet of Things (IoT) IAM Crucial for Securing IoT Ecosystems?

Internet of Things (IoT) Identity and Access Management (IAM) solutions are essential for securing IoT ecosystems by managing and controlling access to connected devices and systems. As IoT networks grow and become more complex, managing the identities of devices, users, and applications becomes critical to ensuring secure communication and preventing unauthorized access. IoT IAM solutions authenticate and authorize devices, ensuring that only trusted entities can communicate within an IoT environment. With industries like healthcare, manufacturing, and smart cities relying on large-scale IoT deployments, the need for robust IAM solutions has never been more pressing to prevent data breaches, ensure compliance, and protect critical infrastructure from cyberattacks.

How Are Technological Advancements Shaping the IoT IAM Market?

Technological advancements are significantly enhancing the capabilities of IoT IAM solutions. The integration of artificial intelligence (AI) and machine learning (ML) is enabling more sophisticated threat detection and behavioral analytics, allowing IoT IAM systems to identify anomalies and potential security breaches in real time. Blockchain technology is also emerging as a key innovation, offering decentralized and tamper-proof identity verification mechanisms for IoT devices. Additionally, advancements in biometric authentication and multi-factor authentication (MFA) are further strengthening security by ensuring that both devices and users are securely verified before accessing critical systems. These innovations are making IoT IAM solutions more robust and capable of handling the increasing complexity of IoT networks.

How Do Market Segments Define the Growth of the IoT IAM Market?

Components include solutions and services, with identity governance and privileged access management solutions dominating the market due to the need for secure control over IoT devices. Deployment models include cloud, on-premises, and hybrid, with cloud-based solutions gaining significant traction as businesses seek scalable and flexible security solutions. Industry verticals include healthcare, manufacturing, transportation, and smart cities, with the manufacturing sector leading the adoption of IoT IAM due to the need for secure access control in industrial IoT environments. The market is expanding rapidly in regions like North America and Europe, where cybersecurity regulations are stringent, but also gaining momentum in Asia-Pacific, driven by the growing adoption of IoT in industries.

What Factors Are Driving the Growth in the IoT IAM Market?

The growth in the IoT IAM market is driven by several factors, including the rising adoption of IoT devices, increasing cybersecurity threats, and the growing need for regulatory compliance. As the number of connected devices continues to rise, managing the identities and access rights of these devices is becoming increasingly complex, necessitating robust IAM solutions. The growing threat of cyberattacks targeting IoT devices is also driving demand for IAM solutions that can provide secure authentication and authorization mechanisms. Additionally, regulatory frameworks like GDPR and HIPAA are pushing organizations to invest in IoT IAM to ensure compliance with data protection and privacy laws, further accelerating market growth.

Select Competitors (Total 36 Featured) -

• Amazon Web Services (AWS)
• CA Technologies
• Certified Security Solutions (CSS)
• Covisint Corporation
• Forgerock, Inc.
• Gemalto NV
• Globalsign
• Logmein, Inc.
• Micro Focus International PLC
• Ping Identity Corporation

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.