IoT Identity and Access Management (IAM) Market Forecasts to 2030 – Global Analysis By Component (Solutions, Single Sign-On, Enterprise SSO, Web Federated SSO and Other Components), Security type (Network Security, Endpoint Security, Application Security

IoT Identity and Access Management (IAM) Market Forecasts to 2030 – Global Analysis By Component (Solutions, Single Sign-On, Enterprise SSO, Web Federated SSO and Other Components), Security type (Network Security, Endpoint Security, Application Security and Other Security Types), Deployment mode, Organization size, End User and By Geography


According to Stratistics MRC, the Global IoT Identity and Access Management (IAM) Market is accounted for $7.4 billion in 2023 and is expected to reach $32.5 billion by 2030 growing at a CAGR of 23.4% during the forecast period. Identity and Access Management (IAM) is the industry dedicated to providing solutions for securely managing digital identities, user access, and permissions within an organization's IT infrastructure. IAM systems enable businesses to control and streamline user authentication, authorization, and permissions across various applications and resources. This includes managing user identities, enforcing security policies, and ensuring compliance with regulations.

According to the “Cybrary’s 2016 Cyber Security Job Trends Report”, 68% of the respondents said there is a shortage of skilled security professionals globally and 74% of the respondents said there is a lack of talent in a specific security area. This research survey was conducted with 435 senior-level technology and security professionals.

Market Dynamics

Driver

Increase in frequency of cybersecurity breaches and cyberattacks

Organizations recognize the critical need to fortify their digital perimeters against evolving threats. IAM solutions play a pivotal role by offering robust authentication, authorization, and access control mechanisms. They bolster security by ensuring that only authorized users gain entry to systems and data, mitigating the risk of unauthorized access and data breaches. As cyber threats continue to evolve, the IAM market experiences growing demand as businesses prioritize safeguarding sensitive information and bolstering their overall cybersecurity posture.

Restraint

Cost and budget concerns

Implementing IAM solutions can be a substantial financial investment, particularly for smaller organizations with limited budgets. The initial setup costs, including software, hardware, and personnel training, can be substantial. Additionally, ongoing maintenance, license fees, and scalability expenses can strain budgets over time. Consequently, some businesses may delay or opt for less comprehensive IAM solutions, compromising their cybersecurity posture.

Opportunity

Government and private sector cyber security mandates

Increasingly stringent regulations and compliance requirements force organizations to prioritize data security and access control. IAM solutions provide a means to achieve and demonstrate compliance with these mandates. Moreover, as governments and industries set higher standards for protecting sensitive information, the demand for IAM solutions is likely to surge. This creates a favorable environment for IAM vendors to offer compliance-centric solutions, driving innovation and growth in the market while helping organizations meet their legal and regulatory obligations, ultimately enhancing overall cybersecurity practices.

Threat

Lack of security, expertise, and awareness

Many organizations struggle to fully comprehend the complexity of IAM systems, leading to misconfigurations and vulnerabilities that cybercriminals can exploit. Insufficient cybersecurity knowledge and training within businesses can hinder the effective deployment and management of IAM solutions. Additionally, some organizations underestimate the importance of IAM in their overall security strategy, leading to a lack of investment and awareness.

Covid-19 Impact

The COVID-19 pandemic had a mixed impact on the Identity and Access Management (IAM) market. The sudden shift to remote work and increased reliance on digital tools highlighted the importance of IAM solutions for securing remote access. This drove some demand for IAM products. On the other hand, economic uncertainties led to budget constraints for many organizations, delaying or scaling back IAM investments. Additionally, the rapid adoption of cloud-based applications and the proliferation of personal devices introduced new security challenges. Overall, while the pandemic emphasized the significance of IAM, it also posed financial challenges for some businesses, impacting market growth to a certain extent.

The endpoint security segment is expected to be the largest during the forecast period

The endpoint security segment is expected to have a lucrative growth. It is a crucial component of IAM, as it ensures that endpoints are protected and compliant with security policies. Endpoint security involves technologies like antivirus software, firewalls, and encryption, along with IAM solutions like multi-factor authentication and access control. This combined approach helps organizations secure not only user identities and access but also the devices through which access is granted, fortifying the overall cybersecurity posture and mitigating the risks associated with endpoint vulnerabilities.

The banking, financial services and insurance (BFSI) segment is expected to have the highest CAGR during the forecast period

The banking, financial services and insurance (BFSI) segment is anticipated to witness the fastest CAGR growth during the forecast period. BFSI organizations handle sensitive customer data and financial transactions, making security paramount. IAM solutions are instrumental in ensuring secure access to critical systems and data, enabling precise control over user permissions, and complying with stringent regulations such as GDPR and PCI DSS. The sector's adoption of IAM technologies enhances data protection, minimizes fraud risks, streamlines user authentication processes, and ensures that only authorized individuals can access financial assets and information.

Region with largest share

During the forecast period, it is expected that the North American IoT Identity and Access Management (IAM) market will continue to hold a majority of the market share. The region's advanced technological landscape, stringent data privacy regulations, and the presence of numerous key IAM solution providers contribute to its leadership. North American organizations, particularly in sectors like finance, healthcare, and government, heavily invest in IAM to protect sensitive data, enhance cybersecurity, and achieve compliance. The growing complexity of cyber threats and a strong emphasis on data security have driven a consistent demand for IAM solutions.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period. Rapid digitization, economic growth, and a thriving technology ecosystem are driving IAM adoption across the region. Organizations in the finance, healthcare, and e-commerce sectors are prioritizing IAM to secure sensitive data, meet compliance requirements, and combat evolving cyber threats. The sheer scale of user populations and the increasing need for remote work solutions amplify IAM's significance. As businesses continue to embrace digital transformation, the Asia-Pacific IAM market is poised for substantial growth, presenting opportunities for both established IAM providers and innovative start-ups in the region.

Key players in the market

Some of the key players in IoT Identity and Access Management (IAM) market include Entrust Inc., ForgeRock, Broadcom, Inc., Cisco Systems Inc., Amazon Web Services, Inc., IBM, IdentityFusion, KaaIoT Technologies, LLC., DigiCert Inc., Keyfactor, Inc., LM Ericsson, Microsoft Corporation., GlobalSign, Google LLC, HID Global, SailPoint Technologies Holdings, Inc., Telefonaktiebolaget LM Ericsson, Thales Group, Optiv Security Inc., Oracle Corporation and Ping Identity.

Key Developments

In March 2023, Thales acquired S21sec and Excellium, two major players in cybersecurity consulting, integration, and managed services in Europe. With this acquisition, Thales accelerates its cybersecurity development roadmap and expands its footprint in Spain, Portugal, Luxembourg, and Belgium.

In August 2022, BM collaborated with Apptio, a leading technology business management (TBM) SaaS application provider, to help clients enhance hybrid cloud technology decision-making.

In May 2022, AWS helped Okta to bring together the availability of the Okta Identity Cloud and its products in AWS Marketplace to provide proper infrastructure for those organizations migrating to the cloud.

Components Covered
• Solutions
• Single Sign-On
• Enterprise SSO
• Web Federated SSO
• Directory Services
• Storage
• Meta Directories
• Virtual Directories
• Access Management and Authorization
• Password Management
• Self Service Password Reset
• Password Reset
• Password Synchronization
• Audit, Compliance and Governance
• Services

Security Types Covered
• Network security
• Endpoint Security
• Application Security
• Cloud Security
• Other Security Types

Deployment Modes Covered
• Cloud
• On-premises

Organization Sizes Covered
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

End Users Covered
• Banking, Finance services, and Insurance (BFSI)
• Automotive
• Telecom
• IT and ITeS
• Retail and Consumer Goods
• Energy and Utilities
• Healthcare
• Oil and Gas
• Manufacturing
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global IoT Identity and Access Management (IAM) Market, By Component
5.1 Introduction
5.2 Solutions
5.2.1 Lifecycle Management
5.2.1.1 Provisioning
5.2.1.2 De Provisioning
5.2.2 Digital Certificate
5.2.3 API Management/API Gateway
5.2.3.1 Authentication
5.2.3.1.1 Single Factor Authentication
5.2.3.1.2 Two Factor Authentication
5.2.3.1.2 Multi Factor Authentiction
5.3 Single Sign-On
5.4 Enterprise SSO
5.5 Web Federated SSO
5.6 Directory Services
5.7 Storage
5.8 Meta Directories
5.9 Virtual Directories
5.10 Access Management and Authorization
5.11 Password Management
5.12 Self Service Password Reset
5.13 Password Reset
5.14 Password Synchronization
5.15 Audit, Compliance and Governance
5.16 Services
5.16.1 Professional Services
5.16.1.1 Integration and Implementation
5.16.1.2 Consulting
5.16.1.3 Support and Maintenance
5.16.2 Managed Services
6 Global IoT Identity and Access Management (IAM) Market, By Security Type
6.1 Introduction
6.2 Network security
6.3 Endpoint Security
6.4 Application Security
6.5 Cloud Security
6.6 Other Security Types
7 Global IoT Identity and Access Management (IAM) Market, By Deployment mode
7.1 Introduction
7.2 Cloud
7.3 On-premises
8 Global IoT Identity and Access Management (IAM) Market, By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises (SMEs)
8.3 Large Enterprises
9 Global IoT Identity and Access Management (IAM) Market, By End User
9.1 Introduction
9.2 Banking, Finance services, and Insurance (BFSI)
9.3 Automotive
9.4 Telecom
9.5 IT and ITeS
9.6 Retail and Consumer Goods
9.7 Energy and Utilities
9.8 Healthcare
9.9 Oil and Gas
9.10 Manufacturing
9.11 Other End Users
10 Global IoT Identity and Access Management (IAM) Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Entrust Inc.
12.2 ForgeRock
12.3 Broadcom, Inc.
12.4 Cisco Systems Inc.
12.5 Amazon Web Services, Inc.
12.6 IBM
12.7 IdentityFusion
12.8 KaaIoT Technologies, LLC.
12.9 DigiCert Inc.
12.10 Keyfactor, Inc.
12.11 LM Ericsson
12.12 Microsoft Corporation.
12.13 GlobalSign
12.14 Google LLC
12.15 HID Global
12.16 SailPoint Technologies Holdings, Inc.
12.17 Telefonaktiebolaget LM Ericsson
12.18 Thales Group
12.19 Optiv Security Inc.
12.20 Oracle Corporation
12.21 Ping Identity
List of Tables
Table 1 Global IoT Identity and Access Management (IAM) Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global IoT Identity and Access Management (IAM) Market Outlook, By Component (2021-2030) ($MN)
Table 3 Global IoT Identity and Access Management (IAM) Market Outlook, By Solutions (2021-2030) ($MN)
Table 4 Global IoT Identity and Access Management (IAM) Market Outlook, By Lifecycle Management (2021-2030) ($MN)
Table 5 Global IoT Identity and Access Management (IAM) Market Outlook, By Provisioning (2021-2030) ($MN)
Table 6 Global IoT Identity and Access Management (IAM) Market Outlook, By De Provisioning (2021-2030) ($MN)
Table 7 Global IoT Identity and Access Management (IAM) Market Outlook, By Digital Certificate (2021-2030) ($MN)
Table 8 Global IoT Identity and Access Management (IAM) Market Outlook, By API Management/API Gateway (2021-2030) ($MN)
Table 9 Global IoT Identity and Access Management (IAM) Market Outlook, By Authentication (2021-2030) ($MN)
Table 10 Global IoT Identity and Access Management (IAM) Market Outlook, By Single Factor Authentication (2021-2030) ($MN)
Table 11 Global IoT Identity and Access Management (IAM) Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
Table 12 Global IoT Identity and Access Management (IAM) Market Outlook, By Multi Factor Authentiction (2021-2030) ($MN)
Table 13 Global IoT Identity and Access Management (IAM) Market Outlook, By Single Sign-On (2021-2030) ($MN)
Table 14 Global IoT Identity and Access Management (IAM) Market Outlook, By Enterprise SSO (2021-2030) ($MN)
Table 15 Global IoT Identity and Access Management (IAM) Market Outlook, By Web Federated SSO (2021-2030) ($MN)
Table 16 Global IoT Identity and Access Management (IAM) Market Outlook, By Directory Services (2021-2030) ($MN)
Table 17 Global IoT Identity and Access Management (IAM) Market Outlook, By Storage (2021-2030) ($MN)
Table 18 Global IoT Identity and Access Management (IAM) Market Outlook, By Meta Directories (2021-2030) ($MN)
Table 19 Global IoT Identity and Access Management (IAM) Market Outlook, By Virtual Directories (2021-2030) ($MN)
Table 20 Global IoT Identity and Access Management (IAM) Market Outlook, By Access Management and Authorization (2021-2030) ($MN)
Table 21 Global IoT Identity and Access Management (IAM) Market Outlook, By Password Management (2021-2030) ($MN)
Table 22 Global IoT Identity and Access Management (IAM) Market Outlook, By Self Service Password Reset (2021-2030) ($MN)
Table 23 Global IoT Identity and Access Management (IAM) Market Outlook, By Password Reset (2021-2030) ($MN)
Table 24 Global IoT Identity and Access Management (IAM) Market Outlook, By Password Synchronization (2021-2030) ($MN)
Table 25 Global IoT Identity and Access Management (IAM) Market Outlook, By Audit, Compliance and Governance (2021-2030) ($MN)
Table 26 Global IoT Identity and Access Management (IAM) Market Outlook, By Services (2021-2030) ($MN)
Table 27 Global IoT Identity and Access Management (IAM) Market Outlook, By Professional Services (2021-2030) ($MN)
Table 28 Global IoT Identity and Access Management (IAM) Market Outlook, By Integration and Implementation (2021-2030) ($MN)
Table 29 Global IoT Identity and Access Management (IAM) Market Outlook, By Consulting (2021-2030) ($MN)
Table 30 Global IoT Identity and Access Management (IAM) Market Outlook, By Support and Maintenance (2021-2030) ($MN)
Table 31 Global IoT Identity and Access Management (IAM) Market Outlook, By Managed Services (2021-2030) ($MN)
Table 32 Global IoT Identity and Access Management (IAM) Market Outlook, By Security Type (2021-2030) ($MN)
Table 33 Global IoT Identity and Access Management (IAM) Market Outlook, By Network security (2021-2030) ($MN)
Table 34 Global IoT Identity and Access Management (IAM) Market Outlook, By Endpoint Security (2021-2030) ($MN)
Table 35 Global IoT Identity and Access Management (IAM) Market Outlook, By Application Security (2021-2030) ($MN)
Table 36 Global IoT Identity and Access Management (IAM) Market Outlook, By Cloud Security (2021-2030) ($MN)
Table 37 Global IoT Identity and Access Management (IAM) Market Outlook, By Other Security Types (2021-2030) ($MN)
Table 38 Global IoT Identity and Access Management (IAM) Market Outlook, By Deployment mode (2021-2030) ($MN)
Table 39 Global IoT Identity and Access Management (IAM) Market Outlook, By Cloud (2021-2030) ($MN)
Table 40 Global IoT Identity and Access Management (IAM) Market Outlook, By On-premises (2021-2030) ($MN)
Table 41 Global IoT Identity and Access Management (IAM) Market Outlook, By Organization Size (2021-2030) ($MN)
Table 42 Global IoT Identity and Access Management (IAM) Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2021-2030) ($MN)
Table 43 Global IoT Identity and Access Management (IAM) Market Outlook, By Large Enterprises (2021-2030) ($MN)
Table 44 Global IoT Identity and Access Management (IAM) Market Outlook, By End User (2021-2030) ($MN)
Table 45 Global IoT Identity and Access Management (IAM) Market Outlook, By Banking, Finance services, and Insurance (BFSI) (2021-2030) ($MN)
Table 46 Global IoT Identity and Access Management (IAM) Market Outlook, By Automotive (2021-2030) ($MN)
Table 47 Global IoT Identity and Access Management (IAM) Market Outlook, By Telecom (2021-2030) ($MN)
Table 48 Global IoT Identity and Access Management (IAM) Market Outlook, By IT and ITeS (2021-2030) ($MN)
Table 49 Global IoT Identity and Access Management (IAM) Market Outlook, By Retail and Consumer Goods (2021-2030) ($MN)
Table 50 Global IoT Identity and Access Management (IAM) Market Outlook, By Energy and Utilities (2021-2030) ($MN)
Table 51 Global IoT Identity and Access Management (IAM) Market Outlook, By Healthcare (2021-2030) ($MN)
Table 52 Global IoT Identity and Access Management (IAM) Market Outlook, By Oil and Gas (2021-2030) ($MN)
Table 53 Global IoT Identity and Access Management (IAM) Market Outlook, By Manufacturing (2021-2030) ($MN)
Table 54 Global IoT Identity and Access Management (IAM) Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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