IoT Identity Access Management (IAM): Introduction
- IoT Identity access management (IAM), also known as identity management, is an IT security discipline, framework, and solutions to manage identities of IoT devices. IoT Identity access management provides a fundamental security component that ensures the IoT ecosystem is not accessible to unauthorized users.
- IoT devices are focused on connecting things, people, tools, and apps, and IoT Identity access management helps provide end-to-end encryption, overload detection, and unauthorized access elimination to build robust security capabilities
- The global IoT Identity access management (IAM) market is estimated to expand at a rapid pace during the forecast period, as expanding sectors such as e-commerce, retail, healthcare, manufacturing, logistics, supply chain, government, and utility are adopting IoT technology in their daily operations, and IoT Identity access management secures their sensitive IoT systems, assets, and data from unauthorized access.
Global IoT Identity Access Management (IAM) Market: Dynamics
Global IoT Identity Access Management (IAM) Market: Key Drivers
- Smartphones and telecommunication networks play an important role in the development of IoT technology. Rapid advancements in smartphone technology, and increasing use of smartphones for controlling various IoT devices at home. This is expected to boost the IoT identity access management (IAM) market during the forecast period.
- Increase in number of cyberattacks and data breach issues is prompting organizations across the world to focus on strengthening IT security. This, in turn, is expected to drive the IoT identity access management (IAM) market during the forecast period.
- Governments of various countries are focusing more on data privacy regulation policies for their citizens. These regulations have prompted IoT solution vendors to focus more on enhancing IoT digital identity and security services of devices, which in turn is estimated to boost the IoT identity access management (IAM) market during the forecast period.
- However, lack of awareness about the advantages of IoT identity access management (IAM) restrains organizations from spending on identity management to strengthen their security infrastructure, which in turn is expected to hamper the market during the forecast period
Impact of COVID-19 on Global IoT Identity Access Management (IAM) Market
- Increase in cases of COVID-19 across the globe is resulting in global lockdown and the dependency on digital platforms has increased significantly for all businesses to empower their daily operations. Moreover, businesses are at a risk of losing their critical corporate data due to weak security infrastructure and increasing cyberattacks. Strong IoT identity access management strengthens security infrastructure and offers businesses control over corporate data, while increasing productivity, reducing costs, and making the system more efficient. Thus, COVID-19 has had a positive impact in terms of adoption of IoT identity access management.
North America to Hold Major Share of Global IoT Identity Access Management (IAM) Market
- In terms of region, the global IoT identity access management (IAM) market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global IoT identity access management (IAM) market. The U.S. holds a prominent share of the global IoT identity access management (IAM) market due to advanced technology infrastructure and high rate of adoption of cloud and mobile based applications by majority of businesses in the region.
- The IoT identity access management (IAM) market in Asia Pacific is projected to expand at a rapid pace during the forecast period. In India, Japan and China, the number of technology based start-ups in various sectors such as agriculture, healthcare, e-commerce, BFSI, education and manufacturing are increasing, and these start-ups are adopting IoT identity access management to strengthen their cloud infrastructure and data protection, which in turn is expected to increase the demand for IoT identity access management.
Global IoT Identity Access Management (IAM) Market: Competition Landscape
In this digital age, data breach is a major concern for every business, nation, and individual. Adoption of IoT identity access management, which provides consumer-centric identity access management system, reduces the risk of cyberattacks and secures digital businesses.
Key Players Operating in Global IoT Identity Access Management (IAM) Market Include:
- IBM Corporation
- Microsoft Corporation
- Amazon Web Services
- LogMeIn, Inc.
- Intel Security Group
- Oracle Corporation
- Siemens AG
- CA Technologies
- Cloud Security Alliance
- Arcon Tech Solutions
- EMC Corporation
- Hitachi Ltd.
Global IoT Identity Access Management (IAM) Market: Research Scope
Global IoT Identity Access Management (IAM) Market, by Service
- Password management
- Access management user provisioning
- Multi-factor authentication
- Directory services
- Single-sign-on (SSO)
Global IoT Identity Access Management (IAM) Market, by Size of Enterprise
- Small and Mid-sized enterprises
- Large enterprises
Global IoT Identity Access Management (IAM) Market, by Deployment
Global IoT Identity Access Management (IAM) Market, by Application
- IT & Telecommunication
- Media & entertainment
Global IoT Identity Access Management (IAM) Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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.