DUBLIN, Sep. 04, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/82dds2/cloud_iam_market) has announced the addition of the "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" report to their offering.
In recent years, regulatory requirements have added complexity, increased external scrutiny of access management processes. Due to the increasing severity of new security threats to the intellectual property (IP) of companies across various industry sectors, businesses have begun recognizing IAM to be a business problem. Cloud IAM is set to redefine the traditional IT security landscape by blending IAM solutions with cloud technology. Though the cloud IAM market is in introduction stage, but it's expected to show tremendous growth and gain maximum market share of on-premise IAM solutions in IAM landscape.
The shift of organizations to move their businesses on cloud is further giving rise to the increasing number of user and device identities. This has increased the complexity for the organization to provision and manage large number of identities due to growing technological trends of BYOD, CYOD and mobility among organizations. Thus it is necessary for businesses to centralize the management of identities for accessing critical information technology (IT) infrastructure, application, systems, and intellectual data together to address the security and vulnerability issues cost effectively. Thus, Cloud IAM can help organizations by providing platform to organizations to manage identities centrally and cost effectively.
Furthermore, the demand of cloud-based SSO is other key factor encouraging the expansive adoption of the cloud IAM among enterprises. However, cloud IAM faces the challenge of lack of awareness among the end users about cloud computing solutions, storage services, and security concerns. They are unaware of how their intellectual data is stored and migrated from one cloud to other cloud environment. Thus, this is the major gap between the CSPs and a service consumer which is seems difficult to be catered by the cloud IAM vendors. The adoption of cloud IAM in SMBs is likely to grow owing to their budget constraints and their increasing numbers around the world.
The North America region is dominating the cloud IAM market during the forecasted period. The increase is being driven primarily by the increasing and changing compliance and governance regulations every year and the need of organizations to adhere to it. About 400 new regulatory policies are being issued by the U.S. government related to cyber security every year. Countries across the APAC and European regions are flooded with a large number of SMBs and their budget constraints is the major factor propelling the growth of the cloud IAM market.
Major players in the cloud IAM market are CA technologies, Okta, IBM, Oracle, HP, Dell, Sail Point, and PingIdentity. Companies offer high-performance Cloud IAM solutions to provide increased security and proper IAM project management at reduced costs to the businesses.
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
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Cloud IAM Market Analysis, By Component
8 Global Cloud IAM Market Analysis, By End User
9 Cloud IAM Market Analysis, By Vertical
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- CA Technologies
- EMC Corporation
- IBM Corporation
- Onelogin Inc.
- Ping Identity Corporation
- Sailpoint Technologies Inc.
For more information visit http://www.researchandmarkets.com/research/82dds2/cloud_iam_market
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets