According to the cloud IAM market analysis by Future Market Insights (FMI), the adoption of cloud IAM market is estimated to grow with a CAGR of 18.3% from 2022-2032.
The report states that the market is expected to reach the valuation of ~US$ 25,539.2 Mn by the end of 2032. Growth is primarily attributed to integration of artificial intelligence and machine learning in IAM solutions.
Artificial intelligence combined with analytics can provide contextually and focused insights so that both non-technical and technical employees can work more time-efficient. These advanced technologies help to speed up the present IAM compliance controls.
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It can detect potential threats and anomalies, without the need for a large team of security experts. In addition to that many IAM solution providers started adding behavioral data analytics with the help of ML technology to improve security tactics.
Key Takeaways: Cloud IAM Market
-By solution, the cloud IAM platform segment is anticipated to account for the leading share in the global demand for cloud IAM in 2021.
-Standalone software segment is estimated to grow at a CAGR of 19.5% through 2032.
-Among the enterprise size, SMEs segment is estimated to grow at a CAGR of 20.2% during the forecast period.
-By industry, the healthcare segment is anticipated to grow at a CAGR of 22.7% between 2022 and 2032.
-North America is expected to dominate the cloud IAM market, followed by Europe in 2022.
-South Asia & Pacific is estimated to witness fastest growth in the global cloud IAM market during the forecast period.
-The U.S. cloud IAM market is expected to progress at a CAGR of around 15.1% through 2032.
-In East Asia, China cloud IAM market is expected to grow by 6.1X during the forecast period.
-Japan is expected to grow at the highest CAGR of 21.9% during the assessment period.
Growing Adoption of BOYD Across Organizations
A variety of mobility movements in organizations have increased security measures to verify or authenticate the end-user machine. Increasing penetration of tables, personal devices, and mobiles helps employees to connect to the network of the organizations through their personal devices.
In recent times, employees are preferred to use their own devices instead of using office desktops or laptops. It ultimately creates the need for cloud IAM solutions to access the network. Therefore, the growing adoption of BOYD by many organizations ultimately fuels the demand for IAM solutions.
Cloud IAM Outlook by Category
By Solution:
Cloud IAM Platform
Standalone Software
Cloud Single Sign-On (SSO)
Cloud-based Directories
Cloud Password Management
Others
By Enterprise Size:
Small and Mid-Sized Enterprises (SMEs)
Large Enterprises
By Industry:
BFSI
Telecom & IT
Energy and Utilities
Healthcare
Manufacturing
Education
Retail
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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