CHICAGO, August 17, 2015 /PRNewswire/ --
According to a new market research report, "Cloud IAM Market by Components (Access Management, User Provisioning, Directory Services, Single Sign - On, Password Management, Audit, Governance & Compliance Management) - Forecast and Analysis to 2020", published by MarketsandMarkets, Cloud IAM Market is expected to grow from USD 1,089.3 Million in 2015 to USD 3,424.5 Million in 2020 at a Compound Annual Growth Rate (CAGR) of 25.7% from 2015 to 2020.
Browse 72 Tables and 50 Figures spread through 125 Pages and in-depth TOC on "Cloud IAM Market"
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The market report defines the segments of cloud Identity and Access Management (IAM) market into various segments with an in-depth analysis and market forecast.
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This research report also identifies the factors driving this market, restraints, challenges, and opportunities impacting it in long run, along with the future roadmaps. The report also emphasizes on key adoption trends, evolution of cloud IAM, future opportunities, and business cases in the rising market. The adoption of cloud IAM is expansively increasing, as major vendors are aggressively investing and rigorously working toward building cost effective platforms, suite and solutions, in an effort to reduce the overall cost incurred by end-users in managing the increasing number of identities and provisioning of users and devices. The cloud IAM vendors help the organization in providing a centralized management of intellectual property such as user and device identities, provisioning and access management. Cloud IAM also facilitates organizations to provide single password to login to enterprise wide applications and systems on which user or a device is provisioned to log in.
The Cloud IAM Market is segmented by components: access management, user provisioning, directory services, single sign-on, password management and audit, governance and compliance management. Further, the report has also been segmented by end user: small and medium businesses (SMBs) and enterprises; by verticals: BFSI, telecom and IT, energy, oil and gas, public sector and utilities, healthcare, education, manufacturing, retail and others; by region: North America, Asia-Pacific (APAC), Europe, Latin America, and the Middle East and Africa (MEA).
Companies such as CA technologies, Okta, IBM, Oracle, HP, Dell, Sail Point, Ping Identity and others are some of the active key players in the market. Also large numbers of pre-existing IAM players can emerge in the market and intensify the competition in this market space. Such players can become complete solution and platform providers to compete against global players in this market. Thus, the bargaining power of consumers is moderate currently due to low customer concentration presently, so the vendors have to sell their solutions according to the demand of customer. But soon bargaining power is expected to be low as soon as the customer base will start including enterprises.
There are various assumptions that have been taken into consideration for the market forecast and analysis. Few of global assumptions include political, economic, social, technological and economic factors; for example, exchange rates are one of the economic factors, are expected to have a moderate rating of impact on this market. Therefore, dollar fluctuations are expected to not seriously affect the forecasts in the emerging APAC regions. The governance and compliance is the other factor which is expected to remain moderate for players to enter in this market.
MarketsandMarkets forecasts the global Cloud IAM Market is expected to grow from USD 1,089.3 Million in 2015 to USD 3,424.5 Million in 2020 at a Compound Annual Growth Rate (CAGR) of 25.7% from 2015 to 2020.
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