Identity and access management (IAM) is a security framework which ensures secure access to end users across multiple applications. At present, integration of IAM with cloud is gaining pace owing to its low cost and enhanced security. Cloud identity and access management (IAM) is an approach to revamp the traditional IT security environment by offering IAM solutions over the cloud. Cloud IAM helps large as well as small organizations to secure their IT infrastructure and patents & intellectual properties (IP) in a cost-effective manner.
Cloud IAM offers various services such as user provisioning, access management, multi-factor authentication, directory services, single sign-on (SSO), governance & compliance management and password management. Several organizations have adopted cloud IAM to improve customer engagement, acquisition and retention.
A well-designed cloud IAM system reduces the cost incurred due to cyber-attacks by enabling better information sharing and enhanced data privacy. In addition, cloud IAM services reduce cyber-attacks and data breaches by implementing various IAM services, such as single sign-on (SSO) and user provisioning and others.
Topics Covered in this report:
Scope and Regional Forecast of the Cloud Identity Access Management (IAM) Market:
Renowned market players have adopted acquisition as their key strategy to strengthen their technical expertise and to enhance their market foothold. For instance, in 2015, EMC Corporation acquired Virtustream, a cloud computing management software provider, to manage its cloud service business and to enhance its hybrid cloud product portfolio. In 2014, IBM acquired two IAM firms, Lighthouse Security Group and Cross Ideas, to expand and enhance its identity and access management (IAM) offerings. The cost effectiveness of the cloud IAM service compared to the traditional IAM services is one of the major factors driving the adoption of cloud IAM. Enterprises are adopting cloud applications at a large scale owing to the fast dropping rates of bandwidth and storage.
It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud IAM services. In addition, the increasing popularity of Bring Your Own Device (BYOD) and various mobility trends in organizations have augmented the end user device authentication security. Therefore, increasing number and complexity of cyber-attacks, BYOD policies adopted by various organizations, increasing adoption of cloud services, centralized security and management and government compliances, are the key factors driving the growth of cloud IAM market.
The cloud IAM market is segmented based on deployment type, services, industry verticals and geography. The services segment is categorized into user provisioning, access management, multi factor authentication, single sign-on, directory services, password management, and governance & compliance management. User provisioning was the most widely adopted cloud IAM service, which accounted for a share of around 40% in 2014.
The cloud IAM is segmented based on different industry verticals such as BFSI, IT and telecommunication, healthcare, media & entertainment, retail, education and others. BFSI, IT & telecom and retail witnessed highest adoption of cloud IAM services over the forecast period (2015 – 2020). Based on the deployment type, the market is further categorized into private cloud, public cloud and hybrid cloud.
Segmentation and Key Players of the Cloud Identity Access Management (IAM) Market:
The Cloud Identity Access Management (IAM) Market is segmented into various categories by type, by material and by region as follows:
MARKET BY SERVICES: User Provisioning Access Management, Multi Factor Authentication, Single Sign-on Directory Services, Password Management, Governance & Compliance Management
MARKET BY INDUSTRY VERTICALS: BFSIIT & Telecommunication, Healthcare, Media & Entertainment Education, Retail Others (Energy, Oil and Gas, Public Sector and Utilities)
MARKET BY DEPLOYMENT TYPE: Private Cloud, Public Cloud, Hybrid Cloud
MARKET BY GEOGRAPHY: North America, Europe, Asia-Pacific, LAMEA
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The key players in the Cloud Identity Access Management (IAM) are as follows:
This would offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier and buyer network. SWOT analysis of key market players highlight the essential strengths and potential opportunities in the market CLOUD IDENTITY AND ACCESS MANAGEMENT (IAM) MARKET SEGMENTATION. The market is segmented on the basis of deployment type, services, industry vertical, and geography.
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