Future Market Insights’ (FMI) research of the cloud IAM market projects that the industry’s adoption will expand at a compound annual growth rate (CAGR) of 18.3% between 2022 and 2032.
By the end of 2032, the market is predicted by the analysis to be valued at around US$ 25,539.2 million. Integration of machine learning and artificial intelligence with IAM solutions is largely responsible for growth.
When artificial intelligence and analytics are paired, the result can be targeted and contextualised insights that help both technical and non-technical staff members perform more quickly. These cutting-edge technology aid in accelerating the current IAM compliance regulations.
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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.
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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)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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