Report Ocean has released a research study titled “IoT Identity Access Management Market 2023 Forecast to 2032 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
IoT Identity Access Management (IAM) Market is valued at approximately USD $$million in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2028. IoT Identity access management (IAM) is also known as identity management. It is a body of technologies and policies to enable appropriate access to technology resources for the right users and manage the identities of IoT devices. The rising frequency of cybersecurity breaches and cyberattacks, the growing integration of IAM with IoT Devices, and the rising imposition of regulatory policies for cyber security are the chief factors driving the global market growth.
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For instance, as per Statista, in 2019, around 8.6 billion Internet of Things (IoT) connected devices were accounted, and it is projected to progressively grow and reach around 29.4 billion devices by 2030. Thereby, the surging adoption of the Internet of Things (IoT) is positively influencing market growth across the globe. However, rising cost and budget concerns of IoT IAM solutions and lack of security, expertise, and awareness hamper the growth of the market over the forecast period of 2022-2028. Also, the rising popularity of the BYOD trend and increasing penetration of biometric technologies through smartphones, laptops, and tablets are anticipated to act as catalyzing factors for the market demand during the forecast period.
Major market players included in this report are:
AWS
Thales
IBM Corporation
Microsoft Corporation
Broadcom
Open Text
Cisco Systems
Ericsson
Oracle Corporation
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MARKET OVERVIEW
The IoT Identity and Access Management (IoT IAM) Market is a subset of the broader identity and access management sector, focused on providing solutions for secure and authorized access control to Internet of Things (IoT) devices and data. Here’s a deep analysis of the IoT IAM Market in 10 key points:
- Market Overview: The IoT Identity and Access Management (IAM) Market addresses the need to manage and secure the identities and permissions of both IoT devices and users accessing IoT data and systems.
- Market Growth: This market has been growing rapidly in response to the increasing adoption of IoT devices across industries, including healthcare, manufacturing, smart cities, and more.
- Key Players: Major players in the IoT IAM Market include companies like IBM, Microsoft, Amazon Web Services (AWS), and smaller specialized providers offering IoT-specific IAM solutions.
- Identity Management: IoT IAM solutions handle the identity management of IoT devices, assigning unique identifiers and ensuring they are authenticated and authorized to access specific resources.
- Access Control: IAM solutions enforce access control policies, determining which users and devices have access to IoT data, applications, and systems. They help prevent unauthorized access and data breaches.
- Data Security: Protecting the integrity and confidentiality of IoT data is a crucial aspect of IoT IAM. These solutions include encryption, data masking, and auditing capabilities to secure data in transit and at rest.
- Device Lifecycle Management: IAM solutions also help manage the lifecycle of IoT devices, including provisioning, revocation, and deprovisioning of devices, ensuring only trusted and active devices have access.
- Integration with IoT Platforms: IoT IAM systems often integrate with IoT platforms and cloud services to provide seamless security and access management for IoT deployments.
- Regulatory Compliance: In industries with strict regulations (e.g., healthcare and financial services), IoT IAM solutions help ensure compliance with data protection laws and standards.
- Challenges: Challenges in the IoT IAM Market include the complexity of managing a large number of IoT devices, the need for standardization in IoT security, and addressing evolving cybersecurity threats targeting IoT ecosystems.
The detailed segments and sub-segment of the market are explained below:
By Component:
Solutions
Services
By Security Type:
Network security
Endpoint Security
Application Security
Cloud Security
Other Security Types
By Deployment Mode:
Cloud
On-premises
By End-User:
BFSI
Automotive
Healthcare
Telecom and IT
Public Sector and Utilities
Retail and Consumer Goods
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
Market Research Objective:
To assess market size and growth potential:
- The objective is to determine the current market size, estimate its growth rate, and identify potential opportunities for market expansion.
To understand customer preferences and behavior:
- The objective is to gain insights into customer needs, preferences, buying behaviors, and decision-making processes to develop effective marketing strategies and product offerings.
To evaluate market competition:
- The objective is to assess the competitive landscape, identify key competitors, analyze their market share, strengths, weaknesses, and strategies to formulate a competitive positioning.
To explore new market segments:
- The objective is to identify and understand untapped or emerging market segments, assess their potential demand, and evaluate the feasibility of targeting these segments.
To assess brand perception and awareness:
- The objective is to measure brand awareness, perception, and loyalty among customers and target audiences to gauge the effectiveness of branding and marketing efforts.
To evaluate product or service satisfaction:
- The objective is to gather feedback from customers regarding their satisfaction levels with a specific product or service, identify areas for improvement, and enhance customer experience.
To analyze market trends and industry dynamics:
- The objective is to identify and analyze market trends, technological advancements, regulatory changes, and other factors influencing the industry’s dynamics to inform strategic decision-making.
To explore market entry opportunities:
- The objective is to identify potential markets for expansion, assess their attractiveness, understand entry barriers, and evaluate the feasibility of entering new markets.
To conduct market segmentation and targeting:
- The objective is to segment the market based on demographics, psychographics, or other relevant factors and develop targeted marketing strategies for each segment.
To assess pricing strategies:
- The objective is to evaluate pricing strategies in the market, analyze price sensitivity among customers, and identify optimal pricing levels for products or services.
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