The Cloud Identity and Access Management market comprises of cloud-based identity and access management solutions that are deployed on the cloud and used for preventing identity threats in an enterprise. Also, it comprises organizational policies for managing digital identity and supporting technologies required for identity and access management. Within these policies, all users are authorized, authenticated, and evaluated. The IAM Cloud platform enhances the speed and success of IT deployment, increases security, enhances business continuity, reduces cost and complexity, and helps organizations to become more alert and responsive to change. Most of the cloud advanced organizations in the world are from the North American region especially from the United States, along with the high number of startups. It is also reported by the ITU (International Telecommunication Union) that the North American region is very pro-active and committed toward cybersecurity. BFSI sector has seen major adoption of cloud-based IAM in the region and it may continue to rise, as credit card frauds and breaches accounted for a major share in the total number of identity thefts, as reported by the United States consumer sentinel network.This growth is primarily driven by Rising Adoption of Cloud-Based Platforms for Software Development across Applications, Growing Demand for Distributed Software Applications across Industries and Increasing Need for IAM for IoT.
Globally, a noticeable market trend is evident Single Sign-on (SSO) and Federated Provisioning. Major Players, such as IBM Corporation (United States), Microsoft Corporation (United States), Oracle Corporation (United States), Okta Inc. (United States), Cyberark Software Ltd. (United States), CA Technologies (United States), Centrify Corporation (United States), Sailpoint Technologies Holdings Inc. (United States), Auth0 Inc. (United States) and Dell Technologies Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2015, EMC Corporation had acquired Virtustream, which is a cloud computing management software provider, for managing its cloud service business and to enhance its hybrid cloud product portfolio.
In July 2020, Microsoft partnered with Citrix to provide joint services and tools for the simplification and transition of on-premise Citrix customers to Microsoft Azure.
In the United States, the United States Congress has made information more transparent and secure after the Cyber Security Act of 2012. A number of governments have started improving the complex infrastructure to increase user-friendliness, minimize operational time, and enhances security.
- Rising Adoption of Cloud-Based Platforms for Software Development across Applications
- Growing Demand for Distributed Software Applications across Industries
- Increasing Need for IAM for IoT
- Single Sign-on (SSO) and Federated Provisioning
- Lack of Identity Standards and Budgetary Constraints in Deploying IAM Solutions
Robust Demand for Cloud Security in the Windows, Android, iOS Platform Devices and The Poliferation of Cloud-Based IAM Solutions and Services
Lack of Reliability and Data Privacy of the Service Provider and Difficulties in Addressing the Complexity of Advanced Threats
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Key Decision in Planning and to Further Expand Market Share
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