NEW YORK, Jan. 16, 2017 /PRNewswire/ -- "The rise in adoption of internet of Things (IoT) and Bring Your Own Device (BYOD) trends will drive the IoT Identity Access Management (IAM) market"
The IoT IAM market size is estimated to grow from USD 1.10 billion in 2016 to USD 4.97 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 35.2%. The IoT IAM market is driven by factors such as rise in adoption of BYOD trend, rise in frequency of cybersecurity breaches and cyberattacks, and massive growth in the IoT trend. However, lack of security, expertise, & awareness and cost and budget concerns for IoT IAM solutions may restrict the market growth, and difficulties in assigning unique identities for every network asset of an organization may also limit the growth of the IoT IAM market.
"Managed services segment is expected to grow at the highest CAGR during the forecast period"
Organizations are continuously deploying IoT IAM solutions for the management of identities and policies associated with devices and users across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, the professional services segment is expected to have the largest market size in 2016.
"Authentication segment is expected to grow at the highest CAGR during the forecast period"
The authentication segment is estimated to grow at the highest CAGR during the forecast period, as authentication is the primary process for verifying the user and device identities to make the applications accessible. Furthermore, provisioning will have the largest market size in 2016, as provisioning deals with access resources within Information Technology (IT) and use to manage identities and policies.
"Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period"
APAC includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying IoT IAM solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing adoption of IoT and BYOD trends in many industry verticals such as BFSI, government, IT & telecom, energy, oil & gas, healthcare, and retail. Furthermore, North America is expected to have the largest market size in 2016.
In-depth interviews were conducted with CEOs, marketing directors, innovation & technology directors, and executives from various key organizations operating in the IoT IAM market.
- By Company Type: Tier 1: 55%, Tier 2: 20%, Tier 3: 25%
- By Designation: C-Level: 60%, Director Level: 25%, Others: 15%
- By Region: North America: 10%, Europe: 20%, APAC: 40%, ROW: 30%
The report includes the study of key players offering IoT IAM solutions such as Amazon Web Services (U.S.), CA Technologies (U.S.), LogMeIn, Inc. (U.S.), Gemalto NV (Netherlands), Micro Focus (U.K.), Covisint Corporation (U.S.), ForgeRock, Inc. (U.S.), Ping Identity (U.S.), Certified Security Solutions (U.S.), and GlobalSign (U.S.).
The report covers the IoT IAM solutions and associated services across different verticals and regions. It aims at estimating the market size and future growth potential of this market, across different segments such as solutions, services, security types, deployment modes, organization sizes, industry verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IoT IAM market and the subsegments. This report will help stakeholders understand the competitor landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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