IOT- Identity Access Management Market – Overview
Innovation in terms of technology has given way to massive developments in the IOT identity access management industry in the past few years. Market reports linked to the semiconductors & electronics sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to earn revenues touching USD 20 Billion while expanding at an estimated CAGR of 16 percent approximately in the forecast period.
As security concerns have gained paramount importance lately, companies are diligently focusing and investing in Identity Access Management frameworks. Due to this factor, the significance of identity access management is rising as the IoT market segments have started to diversify. The upsurge in the integration of IoT in identity access management portals has made them more dynamic in maintaining activity logs and tracking user profiles which will provide further impetus to the growth of the industry through the forecast period.
April 2018 Device Authority which is a leader in Identity and Access Management (IAM) for the Internet of Things (IoT) on the global stage, today announced an integration partnership with Gemalto which has established its position as the global leader in digital security that will shorten the ‘security by design’ implementations for a reliable IoT ecosystem. The joint forces of the two companies are making it easier for enterprises, manufacturers, and service providers to build strong security into their IoT devices from the initial stages.
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Global Competitive Analysis
Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available. This particular trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has benefitted the market competitors tremendously in this industry.
The noteworthy players in the market of IOT- Identity Access Management are Microsoft Corporation (U.S.), IBM Corporation (U.S.), EMC Corporation (U.S.), Hitachi, Ltd. (Japan), Intel Security Group (U.S.) and Siemens AG (Germany) to name a few.
The global IOT- Identity Access Management Market is expected to reach by USD $20 Billion and grow at CAGR of 16% during 2017-2022.
The IOT Identity Access Management industry globally has been segmented on the basis of deployment, services, customer type and industry. The deployment segment comprises of on-premise, on-cloud, and hybrid. The service segment includes user provisioning, directory services, password management, access management, multi-factor authentication, and single-sign-on (SSO) among others. The customer type segment can be segmented on basis of government, IT & telecom, energy & utility services, media & entertainment, retail & e-commerce, education, banking & financial services, and manufacturing among others. The industry segment includes small and medium enterprises (SME’s) and large enterprises among others.
Detailed Regional Analysis
The regional analysis of the IOT- identity access management industry includes regions such as North America, Asia Pacific, Europe and rest of the world. The North American market is anticipated to control the IOT- identity access management industry due to the swift adoption of mobile applications and cloud applications in the region. In the North American region, many federal government organizations are highlighting on the use of personal identification card for accessing government IT infrastructure which is also driving the IoT-identity access management industry in the region. The European region is estimated to develop due to the creation of policies by the government cyber authorities to guard confidential data. The Asia Pacific region is estimated to develop due to growing adoption of cloud based services by small and large organizations in developing nations like India and China.
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- Cyber security providers
- System integrators
- Government organizations
- Security service providers
- Consultancy firms
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