The cloud identity and access management market analyst says emergence of IaaS and on-demand cloud providers such as Amazon Web Services has led to new virtualization strategies that most enterprises are quickly adopting to eliminate infrastructure limitations. The analysts forecast the global cloud IAM market to grow at a CAGR of 24.73% during the period 2016-2020. The evolution of IaaS and SaaS has provided ample opportunity for smaller enterprises and startups to explore and deploy their ideas with greater agility while staying within their budgets.
The Global Cloud Identity and Access Management Market 2016-2020 report spreads across 45 pages and providing 9 data exhibits is available at:
According to the report, the BFSI sector faces significant challenges due to constant changes in compliance requirements and the adoption of advanced technologies such as cloud and mobile-based services. Cloud IAM solutions help companies in the BFSI sector meet criteria related to security, access and password management, provisioning and de-provisioning, compliance, and governance.
IAM is a security solution that ensures the accessibility of resources to authorized individuals in a multi-technology environment. IAM solutions provide secure identity-based access to on-premises and cloud-based systems, applications, and information from any location. These solutions help enterprises secure application systems by permitting employee access with a single sign-on (SSO) password.
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Cloud IAM enables cloud service providers (CSPs) or managed service providers (MSPs) to manage digital identities on the cloud. Providers of these solutions charge a subscription fee for maintaining, monitoring, and upgrading services, including training and support.
The global cloud identity and access management market is divided into the following segments based on region: North America, Europe, APAC, Latin America and MEA
This cloud identity and access management market report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. 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). The report considers licensed suites on both fixed and pay-per-use bases.
Key players in the Global Cloud Identity and Access Management Market: CA Technologies, Dell, IBM, Ping Identity and Sail Point Technologies
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.
Further, the cloud identity and access management market report states that the market is facing challenges such as lack of awareness regarding cloud computing solutions, storage services, and security issues.
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