IOT- Identity Access Management Market Insights:
IoT- Identity Access Management Market Size was valued at USD 16.04 Billion in 2023. The global IoT- Identity Access Management Market industry is projected to grow from USD 18.12 Billion in 2024 to USD 48.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.98% during the forecast period (2024 – 2032).
IoT IAM revolves around managing and controlling the identities of devices, users, and applications within an IoT network. It encompasses authentication, authorization, and privilege management, ensuring that only authorized entities can access resources and data. With the proliferation of IoT devices, ranging from smart thermostats to industrial sensors, the need to implement robust IAM solutions has become increasingly imperative.
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Key Players:
- Hitachi, Ltd. (Japan),
- EMC Corporation (U.S.),
- ARCON Tech Solutions (India),
- Cloud Security Alliance (U.S.),
- CA Technologies (U.S.),
- IBM Corporation (U.S.),
- Microsoft Corporation (U.S.),
- Intel Security Group (U.S.),
- Siemens AG (Germany),
- Oracle Corporation (U.S.),
are the notable vendors in the IOT- Identity Access Management Market.
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IOT- Identity Access Management Market Regional Analysis:
The regional analysis of IOT- identity access management market is being studied for areas such as Asia pacific, North America, Europe and rest of the world. North America is expected to dominate the IOT- identity access management market owing to rapid adoption of cloud applications and mobile applications in the region. In the North American region, many federal government organizations are emphasizing on use of personal identification card for accessing government IT infrastructure which is also fueling the IoT-identity access management market in the region. Europe is projected to grow owing to the establishment of policies by government cyber authorities to protect confidential data. The Asia Pacific region is expected to grow owing to increasing adoption of cloud based services by small and large organizations in developing countries like China and India.
IOT- Identity Access Management Market Segmentation:
The Global IOT- Identity Access Management Market has been segmented on the basis of services, deployment, customer type and industry.
Segmentation by Services: Comprises user provisioning, multi-factor authentication, directory services, password management, access management and single-sign-on (SSO) among others
Segmentation by Deployment: Comprises Deployment comprises of on-cloud, on-premise and hybrid.
Segmentation by Customer type: Comprises Industry include small and medium enterprises (SME’s) and large enterprises among others.
Segmentation by Industry type: Comprises IT & telecom, government, energy & utility services, education, retail & e-commerce, banking & financial services, media & entertainment and manufacturing among others.
Segmentation by Regions: Comprises Geographical regions – Asia pacific, North America, Europe and rest of the world.
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The IoT Identity Access Management market presents boundless opportunities for innovation and growth, driven by the exponential expansion of IoT ecosystems and the imperative need for robust security measures. By staying abreast of emerging trends and leveraging advanced technologies, organizations can navigate the complexities of IoT security landscape and unlock the full potential of connected ecosystems.
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