IoT IAM Market to Reach US$47.5 Billion by 2029

IoT Identity Access Management (IAM) is responsible for managing the identity of IoT devices. It prevents unauthorized users to access the protected IT ecosystem along with providing end -to- end encryption, overload detection and unauthorized access removal to offer a robust security solution. Traditional IAM solutions are increasingly adoption IoT as it focused on connecting systems, people, tools and application to streamline the business processes. Additionally, rise in remote workforce due to the pandemic has increased the vulnerability of cyber-attacks across organizations which is creating a need for more efficient security solution, thus facilitating the growth of the global IoT IAM market during the forecast period.

Other factors such as adoption of cloud-based application and increasing awareness regarding Al & ML technologies is driving the growth of IoT identity access management market.

According to Marketlook Consulting’ research report “Global IoT IAM Market Analysis, 2021”, the Global IoT IAM market is anticipated to grow at a CAGR 25.1% during 2022-29. The market would reach to USD 47.5 billion by 2029.

Based on Component, the solution segment held the major market share in 2021, holding more than two-thirds of the global IoT Identity and Access Management (IAM) market share, and is expected to maintain the same trend during the forecast period. On the basis of deployment model, on premise segment acquired the largest share in IoT IAM market in 2021. On-premise model offers high level of data security and safety and increased risk of data breach as compared to cloud based deployment model.

“Global IoT IAM Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for IoT IAM service providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.    

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North America Dominated the Market

Based on leading regions, North America dominated the global IoT IAM market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 due to the presence of key market players and adoption of advance technologies like AI & ML is contributing to the growth of the market in this segment along with increasing demand of internet and mobile applications as stated in Marketlook Consulting research report “Global IoT IAM Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Air Purifier market are Cisco Systems Inc., LM Ericsson, Amazon Web Servcies, Google LLC, Microsoft Corporation, Oracle Corporation, Key factor, HID Global, DigiCert, IBM Corporation, Entrust Inc., GlobalSign.

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.Market Segmentation:

1. By Component (Solution, Services)
2. By Deployment Model (On-premise, Cloud)
3. By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Others)
4. By Enterprise Size (SMEs, Large Enterprise)
5. By Industry Vertical (BFSI, Manufacturing, Healthcare, Government & Defense, Energy & Utilities, Automotive & Transportation, Retail & E- commerce, IT & Telecom, Others)
6. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
7. By Company (Cisco Systems Inc., LM Ericsson, Amazon Web Servcies, Google LLC, Microsoft Corporation, Oracle Corporation, Keyfactor, HID Global, DigiCert, IBM Corporation, Entrust Inc., GlobalSign).

Key questions answered in the study:

1. What are the current and future trends of IoT IAM industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for IoT IAM industry?
5. What is the customer orientation, purchase behavior, and expectations from the IoT IAM firms across various regions?

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