Global Cloud Identity and Access Management Software Market

Description

A security framework which ensures secure access to end users across multiple applications is termed as Identity access management (IAM). Several industrial verticals such as BFSI, healthcare, IT & telecom, media & entertainment, education, retail and others are offered secure and identity based access by Cloud Identity access management service. It helps them to manage security by authorizing employee access with a user provision, access management, multi-factor authentication, directory management and few other services, and hence prevents the misuse of financial and corporate data.

As a result, cloud IAM services are being widely adopted by SMBs, large organizations and government agencies. Cloud identity access management (IAM) software will revamp the traditional IT security environment by offering IAM solutions over the cloud.

Market Dynamics

One of the major factors driving the adoption of cloud IAM is the cost effectiveness of the cloud IAM service compared to the traditional IAM services. Owing to the fast dropping rates of bandwidth and storage, enterprises are adopting cloud applications at a large scale.

It has been estimated that by adopting cloud IAM services, an organization can save more than 35% of the annual cost.

Other factors which have expanded the cloud IAM market size across various organizations are the accruing costs on organizations due to increasing complexities of cyber-attacks and the costs involved in detection and recovery of losses.

Apart from this, the increasing popularity of Bring Your Own Device (BYOD) and various mobility trends in organizations have increased the end user device authentication security. Security in cloud based environment, lack of trust in cloud IAM providers and inadequate awareness are some of the limits associated with cloud IAM market. Developing more secure IAM solutions at lesser prices; which would be customized according to the specifications of the end consumers is the target of several cloud IAM vendors.

Market Segmentation

Based on industry verticals, the cloud IAM software market is segmented into BFSI, IT and telecommunication, media & entertainment, healthcare, retail, education and others. over the forecast period (2015 – 2020), out of these verticals, BFSI, IT & telecom and retail witnessed highest adoption of cloud IAM services. On the basis of deployment type, the market is further divided into private cloud, public cloud and hybrid cloud. On account of enhanced security risks compared to public cloud and hybrid cloud, private cloud dominated the overall cloud IAM market size. In terms of geographical regions, the market is segmented into North America, Europe, Asia-Pacific and LAMEA.

Regional/Geographic Analysis

The governments of North America and Europe are driving investment in IAM solutions as well as market and technological need.

Key Players

The key major players of this competitive and diversified Cloud IAM market are CA Technologies, One Login, Sailpoint, Okta, Identropy, IBM Lighthouse, Ping Identity, Centrify, Oracle, Net IQ, Symplified, Bitium, Symantec Identity, Salesforce Identity, Microsoft Azure Active Directory, Quest, EMC2, HP, Courion and Hitachi ID.