Iot Identity and Access Management Market Reach to USD 47.2 Billion by 2031 | Top Players such as – DigiCert & Entrust
The integration of IAM solutions and MDM is anticipated to drive market growth over the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, September 14, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Iot Identity and Access Management Market Reach to USD 47.2 Billion by 2031 | Top Players such as – DigiCert & Entrust.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global Iot Identity And Access Management Market Size was valued at USD 4.9 billion in 2021, and is projected to reach USD 47.2 billion by 2031, growing at a CAGR of 25.4% from 2022 to 2031.
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Rising security breaches and identity fraud incidences boost the global IoT identity and access management (IAM) market trends. The rise in need for remote-based monitoring of employees working from home during the COVID-19 period resulted in massive demand for IoT solutions, thereby driving global market growth. Based on region, the market across the North American region held the major market share in 2021.
The IoT identity and access management market analysis is segmented on the basis of offering, deployment mode, enterprise size, security type, industry vertical, and region. On the basis of offering, the market is segmented into solution and services. On the basis of solution, the market is segmented into lifecycle management, authentication, audit, compliance and governance, password management, others. Furthermore, the service segment is divided into professional and managed services. Moreover, the professional services segment is divided into training & education, integration & implementation, and support & maintenance. According to organization size, the market is fragmented into large enterprises and SMEs. On the basis of deployment, the market is classified into cloud and on-premise. Depending on security type, it is segregated into cloud security, network security, endpoint security, application security, and others. By industry vertical, it is segmented into BFSI, healthcare, retail, manufacturing, IT & telecom, energy & utilities, automotive & transportation, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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 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.
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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.
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.
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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.
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