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Research report explores the IoT IAM market to surge at +30% CAGR by 2022

IT Market Research

The purpose of this report is to define, describe, and forecast the IoT IAM marketplace based on solutions, services, security types, deployment modes, organizational size, industry sectors and geographies. This report analyzes market opportunities for stakeholders by identifying the high-growth segments of the market. The report also provides a strategic analysis of key market players and a comprehensive analysis of core competencies such as new product launches, M & A, partnerships, contracts and cooperation. The report also provides detailed information on the key drivers (drivers, restrictions, opportunities and challenges) that affect market growth. The Global market is projected to grow at a CAGR of +30% by 2022

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The research methodologies used to predict and predict the IoT IAM market are the Cloud Security Alliance (CSA), the Information Systems Audit and Control Association (ISACA), the Kantara Initiative, and Electrical and Electronics Engineers Standards (IEEE-SA) and other sources such as corporate finance, journals, press releases, paid databases and annual reports. Supplier product and service offerings are also considered to determine market segmentation.

Bottom-up procedures have been adopted to reach the market size as the main customer revenue of the market. After reaching the overall market size, the total market has been divided into multiple segments and sub-segments and has been validated through key research through extensive interviews with key figures such as CEO, Vice President, Director, Executive and IoT IAM Engineer.

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Data triangulation and market segmentation procedures have been used to complete the entire market engineering process and reach accurate statistics for all segments and sub-segments. The analysis of the key profiles is illustrated in the figure below.

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IoT IAM helps organizations easily manage the identity of connected networking devices and business-critical IoT applications. As technology has evolved rapidly, the use of advanced digital solutions, connected devices and IT systems has increased.

The main force driving the IoT IAM market is the increased adoption of BYOD and IoT trends, which increases the frequency of cyber security breaches and cyber attacks, putting critical corporate and personal data at risk. As a result, organizations are deploying advanced IAM solutions to protect their networks and endpoints from cyber threats.

Provisioning solutions are expected to dominate the IoT IAM market from 2016 to 2021 with maximum market share by adopting a provisioning solution that manages and controls the identity and access of IoT applications and network resources. The certification solution is expected to play an important role in changing the IoT IAM environment and is expected to grow at the highest growth rate during the forecast period.

This is because the organization has increased its expenditure on authentication solutions to manage access control of devices.

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The BFSI vertical line is expected to account for the largest market share in the IoT IAM market due to early introduction of IoT and increased business online banking transactions via web and mobile devices. The energy, oil and gas industry is expected to grow at an annual average growth rate from 2016 to 2021 in the IoT IAM market.

These industries have adopted IoT technology for business-critical applications that are considered the primary target of cybercrime.

Due to the large number of IoT IAM suppliers in the region, North American market share is expected to dominate the IoT IAM market between 2016 and 2021. APAC, on the other hand, offers potential growth opportunities in the IoT IAM market.

This is because they are transforming into advanced IAM solutions for IoT security and defending against high-end cyber threats.

Major suppliers to the IoT IAM market are Amazon Web Services , CA Technologies, LogMeIn, Inc., Gemalto NV, Micro Focus International Plc , Covisint Corporation  ForgeRock, Inc., Ping Identity, Certified Security Solutions , and GlobalSign 

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