IoT Identity and Access Management (IAM) Market to Reach $47.2 Billion by 2031: Allied Market Research

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Portland, OR , Nov. 03, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global Iot Identity and Access Management (IAM) Market generated $4.9 billion in 2021, and is projected to reach $47.2 billion by 2031, growing at a CAGR of 25.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report coverage & details:

Report Coverage Details
Forecast Period 2022­–2031
Base Year 2021
Market Size in 2021 $4.9 billion
Market Size in 2031 $47.2 billion
CAGR 25.4%
No. of Pages in Report 334
Segments Covered Offering, Deployment Model, Security Type, Enterprise Size, Industry Vertical, and Region.
Drivers Rising security breaches and identity fraud incidences.
Growing awareness about compliance control methods has led to massive demand for IAM and IoT.
  Rise in expenditure on cyber security.
Opportunities Proliferation of cloud-based IAM solutions and rise in adoption of hybrid cloud models.
  Rapid acceptance of technologies such as artificial intelligence, machine learning, blockchain, and biometrics for identity and access management systems.
Restraints Huge costs associated with the implementation and maintenance of IoT identity and access management (IAM) solutions.
  Growing concerns pertaining to the privacy and security of data of firms.

COVID-19 Scenario:

  • The outbreak of the COVID-19 had a positive impact on the growth of the global IoT Identity and Access Management (IAM) market, owing to a substantial increase in the demand for IoT solutions in the BFSI, healthcare, and manufacturing sectors.
  • Rise in number of cyber-attacks during the COVID-19 period resulted in a humongous demand for the IoT identity and access solutions across various sectors.
  • Apart from this, the rise in need for remote-based monitoring of employees working from home during the COVID-19 period resulted in a massive demand for IoT solutions.

The report offers a detailed segmentation of the global IoT Identity and Access Management (IAM) market based on offering, deployment model, security type, enterprise size, industry vertical, and region.  The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.

Based on offering, the solution segment held the major market share in 2021, holding more than two-thirds of the global IoT Identity and Access Management (IAM) market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the service segment is expected to cite the fastest CAGR of 27.0% during the forecast period.

In terms of deployment model, the on-premise segment held the major market share in 2021, contributing nearly three-fifths of the global IoT Identity and Access Management (IAM) market share, and is expected to maintain its leadership position during the forecast period. However, the cloud segment, on the other hand, is expected to cite the highest CAGR of 26.7% during the forecast period.

In terms of enterprise size, the large enterprises segment held the major market share in 2021, contributing nearly three-fourths of the global IoT Identity and Access Management (IAM) market share, and is expected to maintain its leadership position during the forecast period. However, the SMEs segment, on the other hand, is expected to cite the highest CAGR of 28.0% during the forecast period.

Based on region, the market across the North American region held the major market share in 2021, holding nearly two-fifths of the global IoT Identity and Access Management (IAM) market share, and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 28.5% during the forecast period.

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The key players analyzed in the global IoT Identity and Access Management (IAM) market report include Telefonaktiebolaget LM Ericsson, Amazon Web Services, Inc., Google LLC, Microsoft Corporation, IBM Corporation, Cisco Systems, Inc., Oracle Corporation, HID Global Corporation, DigiCert, Inc.,  Entrust Corporation, GlobalSign, One Identity, LLC, KaaIoT Technologies, LLC, Sailpoint Technologies Holdings, Inc., Optiv Security, Inc., and IdentityFusion, Inc.

The report analyzes these key players in the global IoT Identity and Access Management (IAM) market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market. 

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.