Consainsights logo

Cloud Identity Access Management Iam Market Size, Share, Industry Trends and Forecast to 2030

Cloud Identity Access Management Iam Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Cloud Identity Access Management (IAM) Market Size & CAGR in 2021

The global Cloud Identity Access Management (IAM) market is projected to witness a significant growth rate with a CAGR of 15.3% from 2021 to 2028. This growth is expected to result in a market size of USD 12.5 billion by the end of 2028. The increasing adoption of cloud-based services and the need for secure access management solutions are driving the growth of the IAM market.

COVID-19 Impact on the Cloud Identity Access Management (IAM) Market

The COVID-19 pandemic has significantly impacted the Cloud IAM market, accelerating the adoption of cloud services and remote work policies. Organizations worldwide have shifted towards cloud-based IAM solutions to ensure secure access management for remote employees. This has led to an increased demand for IAM solutions that offer multi-factor authentication, single sign-on, and identity governance capabilities to enhance security.

Cloud Identity Access Management (IAM) Dynamics

The Cloud IAM market is driven by factors such as the increasing adoption of cloud services, the rise in cyber threats, and the need for enhanced data security. Organizations are focusing on implementing IAM solutions to streamline access management processes, improve compliance, and enhance overall security posture. Additionally, the integration of AI and machine learning technologies in IAM solutions is expected to drive market growth further.

Segments and Related Analysis

By Deployment Model:

- Public Cloud - Private Cloud - Hybrid Cloud

By Organization Size:

- Small and Medium Enterprises - Large Enterprises

By Vertical:

- BFSI - Healthcare - IT & Telecom - Retail - Others

By Region Analysis

North America

North America is expected to hold a significant market share in the Cloud IAM market due to the presence of major IAM vendors and the increasing adoption of cloud-based solutions in the region. The U.S. and Canada are anticipated to contribute significantly to market growth in North America.

Europe

Europe is expected to witness substantial growth in the Cloud IAM market, driven by the rapid digitization of businesses, stringent data protection regulations, and the increasing focus on cybersecurity. Countries such as the UK, Germany, and France are likely to be key contributors to market growth in Europe.

Asia Pacific

Asia Pacific is projected to be a lucrative market for Cloud IAM solutions, fueled by the rapid adoption of cloud technologies, digital transformation initiatives, and the growing awareness of cybersecurity threats. Countries such as China, India, and Japan are expected to drive market growth in the Asia Pacific region.

Latin America

Latin America is anticipated to witness steady growth in the Cloud IAM market, supported by the increasing digitization of businesses, rising cybersecurity concerns, and government initiatives to promote cloud adoption. Brazil, Mexico, and Argentina are likely to be key markets in Latin America.

Middle East and Africa

The Middle East and Africa region are expected to experience significant growth in the Cloud IAM market, driven by the increasing adoption of cloud services, growing cybersecurity investments, and regulatory compliance requirements. Countries such as the UAE, Saudi Arabia, and South Africa are expected to contribute to market growth in the region.

Key Market Players and Competitive Landscape

The Cloud IAM market features key players such as Microsoft Corporation, IBM Corporation, Oracle Corporation, Salesforce, and Okta Inc. These players are focusing on partnerships, mergers, acquisitions, and product innovations to strengthen their market presence and expand their customer base. The competitive landscape of the Cloud IAM market is characterized by intense competition, technological advancements, and strategic alliances.

Recent Happenings in the Cloud Identity Access Management (IAM) Market

- In July 2021, Microsoft announced the acquisition of CloudKnox Security, a leading provider of Cloud IAM solutions, to enhance its Azure Active Directory capabilities. - In November 2021, IBM launched new IAM solutions powered by AI and machine learning to provide enhanced identity and access management capabilities for organizations. - In March 2022, Oracle introduced new enhancements to its Cloud IAM platform, including advanced security features and improved user experience. - In May 2022, Okta Inc. partnered with leading cybersecurity companies to provide integrated IAM and cybersecurity solutions for enhanced data protection and security.

Frequently Asked Questions (FAQ):