IoT- Identity Access Management Market Research Report- Forecast till 2022
The growth IT infrastructure, applications and services has led to creation of new business dimensions. The advent of new business applications has necessitated implementation of robust and seamless operating technologies. IoT-identity access management services enable effective management of machine identities, service accounts and human & non-human resources. Such services facilitate controlling of the overall framework of the organization. IoT powered IAM tools are used for undertaking enforcement process, provisioning IAM activities, etc. Identity access management application software tool are finding popularity in all size of organizations that have IT departments.
IoT-identify access management is gaining popularity owing to changing requirements of the business world. Platforms that provide seamless connection among things, people and information have become the need of the hour. This is turn is creating significant opportunities for service providers. Market Research Future (MRFR) projects that the global IoT-identity access management market will witness an impressive growth over the next couple of years.
Drivers and Restraints
The growth of this market can be inhibited by factors such as continuous up-gradation of valuable features and differentiation techniques followed by competitor market players. The other factors limiting the growth of this market are issues related to employment guidelines and the proper assignment of security policies to particular users.
The global market for IoT- identity access management has observed remarkable growth over the past few years, worldwide, owing to the rising demand for securing relevant, sensitive data and applications. IoT-Identity Access Management Market have a primary need in organization due to the organization's innovation taking places technology industry and increasing industry competition in the market. The number of working employees is rising each day in the organization and at the same time numbers of people accessing the database. Servers keep growing. Identity Access Management Market provides security for a modern device like a tablet, smartphones, and laptops specifically when personnel are working from home or outside the organization. Keeping track of all logs and activity performed by the user; take the required action whenever required. Additionally, support for online business over the cloud with appropriate security. These are the benefits of IAM software that are primarily driving the IoT- Identity Access Management Market.
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The leading market players identified by MRFR in the global IoT- identity access management market are IBM Corporation (U.S.), Microsoft Corporation (U.S.), Hitachi, Ltd. (Japan), EMC Corporation (U.S.), Intel Security Group (U.S.), Siemens AG (Germany), Oracle Corporation (U.S.), ARCON Tech Solutions (India), Cloud Security Alliance (U.S.) and CA Technologies (U.S.) among others.
Characterized by the presence of several major well-established players, the IoT- Identity Access Management Market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage in this market and to uphold their market position. Strategic alliances between significant players is likely to support the growth and expansion plans of the organizations, over the forecast period.
Key regions covered in the report include North America, Asia Pacific (APAC) and Europe. On these, North America has emerged as the largest market for IoT-identity access management market. The market growth in North America is driven by the rapid adoption of cloud technology coupled with the growing use of mobile applications. The practice of using personal identification card for entering in IT infrastructure is viewed as a major market driver. Europe has also emerged as an important market for IoT-identity access management in recent years. Introduction of stricter policies by European Commission to improve data security and prevent cyber malignancy is a major factor supporting the market growth in the region. In APAC, policy reforms to improve economic growth along with the tremendous industrialization in creating lucrative market opportunities. During the review period, countries such as China and India are expected to make significant contribution to the APAC market in terms of revenue.
The global IoT-identity access management market has been segmented on the basis of services, customer type, deployment, and industry. Services comprise of multi-factor authentication, directory services, user provisioning, password management, access management, and single-sign-on (SSO), among others. the Deployment segment of the IoT-identity access management market comprises of on-cloud, on-premise, and hybrid. The industry segment of the market includes small and medium enterprises (SME's) and large enterprises and others. End-user can be segmented on the basis of IT & telecom, media & entertainment, government, education, energy & utility services, banking & financial services, retail & e-commerce, and manufacturing among others.
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Global IOT- Identity Access Management Market, by Services (Multi-factor Authentication, Password Management, Directory Services), by Components (Network Hardware, Cooling Units), by End-Users (Banking, IT, Healthcare, Government) - Forecast 2022
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