Global Cloud Identity Access Management (IAM) Market: Overview
Identity and access management (IAM) is the business framework encapsulating organizational policies and technologies for managing electronic or digital identities. The products are mainly based on role-based access control and allow individual users to perform specific tasks according to the role defined in the enterprise. The IAM framework is gaining increased significance as automated means for initiating, capturing, recording, and managing user identities. IAM technologies play a vital role in reducing internal and external breaches. The integration of IAM infrastructure onto cloud architecture is gathering steam in industry search for scalable and flexible IAM platforms. Cloud IAM can be deployed on different platforms—public, private, or a combination of the two. IAM hosted on cloud have been increasingly popularized by the adoption of SaaS applications in recent years.
Cloud IAM are gaining increased traction in end-use industries, offering several benefits such as identity synchronization and provisioning, federation service, customer identity management, and single sign-on (SSO) features. Their adoption has helped enterprises reduce the cost and complexity in managing access controls and compliance for users. Equipped with robust application interfaces, cloud IAM enable custom integrations capabilities for businesses of different types.
The report offers a holistic insight into the key growth drivers, notable adoption trends, strategic landscape, and major technological innovations. The findings sheds light on emerging opportunities and lucrative avenues in various regions, proving indispensable for impactful strategy formulation.
Global Cloud Identity Access Management (IAM) Market: Trends and Opportunities
The global market for cloud identity access management is reaping substantial benefits of the proliferation of cloud computing applications in enterprises. The rising demand for scalable, cost-effective, and flexible IAM has stoked the popularity of IAM hosted on various types of cloud platforms. The market is especially benefitting from the extensively growing adoption of SaaS models across small and medium- scale enterprises. The growing demand for multifactor authorization as well as the substantial need for provisioning and de-provisioning of users’ access are crucial factors adding to the strength of the market.
In the coming years, IAM is expected to witness burgeoning demand for distributed software applications across industries. This is a noteworthy trend likely to open lucrative avenues in the market. The key role played by cloud IAM in mobile computing programs is a key factor contributing to the expansion of the cloud IAM market. The rising popularity of bring your own device (BYOD) in enterprises in developing and developed countries is a notable trend catalyzing the demand for IAM.
However, security concerns in the sophisticated cloud IAM may act as crippling bottlenecks for market players, if not adequately and timely addressed. The rising complexity of cyberattacks on cloud-based platforms is another restraining factor. However, the ever-increasing adoption of cloud computing technologies will persuade companies develop more secure solutions. The advent of database integrated solutions by cloud IAM providers is an exciting development in the market.
Global Cloud Identity Access Management (IAM) Market: Regional Outlook
On a geographic front, numerous emerging economies in the various developing and developed regions are potentially lucrative markets for cloud IAM. Several developing countries in Europe and Asia Pacific are expected to witness widespread demand for of cloud IAM. In these regions, the wide uptake of cloud-hosted technologies among enterprises in industries, such as government, sports, media and entertainment, is a notable trend contributing to the overall global revenues. North America is also a prominent market for cloud IAM, fueled by the substantial appetite for next-generation IAM solution in organizations.
Companies mentioned in the report
The report provides a comprehensive insight into the profile of market players, their key offerings, innovative launches, and the strategies adopted by them to get a firm foothold in the cloud identity and access management market. Prominent players include IAM Technology Group Ltd., International Business Machine (IBM) Corp., Okta, Inc., SAP SE, Auth0, Inc., Microsoft Corporation, Gemalto NV, Centrify Corporation, Google LLC, and Micro Focus.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.