Cloud IAM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cloud IAM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cloud IAM market size reached US$ 4.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.0 Billion by 2028, exhibiting a growth rate (CAGR) of 20.7% during 2023-2028.

Cloud identity and access management (IAM) refers to a cloud-based service that controls the permission and access of users and cloud resources. It includes password and access management, single sign-on, user provisioning, directory services, audit governance, and compliance management. Cloud IAM is widely used by businesses and organizations to authenticate, authorize, and evaluate users according to set policies and roles. It improves security, protects data, reduces risk exposure, and prevents cyber-attacks. It is an easy-to-use framework that promotes user satisfaction, improves productivity, and minimizes capital expenditure. As a result, it finds extensive applications across retail, education, healthcare, telecommunication, media, and information technology (IT) industries.

Cloud IAM Market Trends:
The rising incidences of cyber-attacks and the increasing regulatory compliance burdens are the key factors driving the market. Cloud IAM is a cost-effective, scalable, and flexible platform that provides multifactor authentication, provisioning, and de-provisioning of user access and assists in preventing revenue loss and reducing data breaches. Furthermore, the increasing demand for cloud IAM across enterprises to protect systems from unauthorized access and misuse, authenticate users, and track user activities is providing a considerable boost to the market. Additionally, the adoption of blockchain technology in cloud IAM to develop decentralized and secured methods of verification and storage of identity credentials to prevent fraud and identity theft is providing an impetus to the market growth. Moreover, the integration of machine learning (ML) and artificial intelligence (AI) to quickly analyze threats and malicious code and improve security is creating a positive outlook for the market. Other factors, including the emerging trends of bring-your-own-device (BYOD), choose-your-own-device (CYOD), and other mobility services; the proliferation of the Internet of Things (IoT)-enabled devices; rising adoption by several governments due to strict cyber-security policies; and extensive research and development (R&D) activities, are anticipated to drive the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cloud IAM market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, deployment mode, enterprise size and industry vertical.

Breakup by Service:

User Provisioning
Single Sign-On
Access Management
Multi-Factor Authentication
Password Management
Directory Services
Governance and Compliance Management

Breakup by Deployment Mode:

Public
Hybrid
Private

Breakup by Enterprise Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Industry Vertical:

BFSI
IT and Telecommunication
Healthcare
Media and Entertainment
Retail
Education
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Dell Technologies Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Okta Inc., OneLogin Inc., Oracle Corporation, Ping Identity Corporation, Sailpoint Technologies Holdings Inc. and Ubisecure Inc.

Key Questions Answered in This Report

1. How big is the global cloud IAM market?
2. What is the expected growth rate of the global cloud IAM market during 2023-2028?
3. What are the key factors driving the global cloud IAM market?
4. What has been the impact of COVID-19 on the global cloud IAM market?
5. What is the breakup of the global cloud IAM market based on the service?
6. What is the breakup of the global cloud IAM market based on the deployment mode?
7. What is the breakup of the global cloud IAM market based on industry vertical?
8. What are the key regions in the global cloud IAM market?
9. Who are the key players/companies in the global cloud IAM market?