The global cloud identity and access management (IAM) market is set to reach over USD 3 billion by the end of 2020, growing at a tremendous CAGR of close to 25%, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of theglobal cloud IAM market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of IAM solutions hosted on both private, public, and hybrid cloud deployed as software as a service (SaaS).

Technavio’s research study segments the global connected devices market into the following regions:

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

North America: Largest cloud IAM market

As per Technavio’s market analysis, North America is the most prominent revenue-contributing region in the cloud IAM market. In 2015, the region accounted for a market share of close to 45%, followed by Europe, APAC, Latin America, and MEA.

The availability of adequate IT and business infrastructure and the presence of many global financial institutions and large companies are some of the major factors contributing to the growth of the market in North America.

“However, the market share of North America is likely to decline by the end of 2020 due to market saturation. End-users adopted cloud IAM solutions quickly in the early stages of its introduction in the region, which will lead to its decline over the next few years,” says Amrita Choudhury, senior industry analyst from Technavio’s IT security research team.

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Some of the top vendors in the cloud IAM market highlighted in the report are:

  • CA Technologies
  • Dell
  • IBM
  • Ping Identity
  • SailPoint Technologies

The other prominent vendors in the market are Bitium, Centrify, Covisint, Exostar, Fisher International, Ilantus Technologies, iWelcome, Microsoft, Okta, OneLogin, Oracle, Salesforce, SAP, and Simeio Solutions.

High concentration of small and medium-sized businesses (SMBs) fueling Europe’s growth

Europe is the second largest market for cloud IAM market and is set to post a CAGR of over 21% by 2020. In 2015, organizations in Finland, Sweden, and Denmark were major adopters of cloud computing, mobility, big data, and the Internet of Things (IoT) in Europe. Increased number of cyber-attacks and rising identity theft in government infrastructure and other critical infrastructure has also led to an increase in the demand for cloud IAM solutions in this region.

APAC region to exceed USD 546 million by 2020

The cloud IAM market in APAC was valued at USD 169.6 million in 2015 and is likely to reach over USD 546 million by 2020. This region is predicted to have a high growth rate during the forecast period, given the popularity of policies such as BYOD, cloud computing, and the growing number of Internet users and hosting service providers.

“Small and medium-sized businesses in APAC, especially in India and China, are gradually developing their IT landscape and are looking for new technologies to enhance their existing IT security systems. Vendors in these areas are capitalizing on the opportunities provided by the countries' fast-growing economies,” says Choudhury.

Browse Related Reports:

  • Global Cyber Security Market 2016-2020
  • Global SSL Certification Market 2016-2020
  • Global Web Application Firewall Market 2015-2019

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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