Global Cloud Identity Access Management Market is Expected to Reach US$ 8,147.87 Million by 2027, Growing at an Estimated Cagr Of 15.9% Over the Forecast Period Due to Rise in Awareness About Compliance Management, Says Absolute Markets Insights

PUNE, India, Jan. 28, 2020 /PRNewswire/ -- Rise in awareness towards compliance management is driving the growth of cloud identity access management market. Looking at high severity of threats and huge financial harms, governments and regulatory bodies such as the Federal Financial Institutions Examination Council introduced an assortment of mandatory guidelines and protocols for security and privacy of business data. Regulatory acts such as Gramm-Leach-Bliley Act, "Health Insurance Portability and Accountability Act", and "Personal Information Protection and Electronics Document Act" and standards such as "Payment Card Industry-Data Security Standard" and "Sarbanes-Oxley Act" necessitate businesses to fulfill various data standard.

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A most recent regulation that is "General Data Protection Regulation" requires strong security and user access controls. The state of New York's Department of Financial Services recently implemented new cybersecurity regulations that present various guidelines and frameworks for the secure operations of financial service enterprises that operate in New York.  Such initiatives will drive organizations across multiple verticals to adopt identity access management solutions. Cyber Attack is another factor fuelling the cloud identity access management market. In coming years, the market would witness rise in adoption of cloud based solutions which is notably low in the present scenario. This is primarily due to inclination of business enterprises towards adoption of cloud architecture in their overall process.

The detailed research study provides qualitative and quantitative analysis of cloud identity access management market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major region across the globe.

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Key Findings of the Report:

• In terms of revenue, global cloud identity access management market is expected to reach US$ 8,147.87 million by 2027.
• User life cycle management solution held the largest share of about US$ 743.15 million in 2019 and is expected to continue the same trend over the forecast period.
• On the basis of industry vertical, BSFI held the largest share of about US$ 528.57 million in 2019 and is anticipated to exhibit the highest CAGR of 17.9% over the next eight years.
• Some of the players operating in the cloud identity access management market are Auth0 Inc., Broadcom, Gemalto NV, Google LLC, Hitachi ID Systems, Inc. IAM Technology Group Ltd, IBM CORPORATION., IDaptive, LLC, IDMWORKS, Micro Focus International plc, OneLogin Inc. amongst others.

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Global Cloud Identity Access Management Market

• By Solution
• Multifactor Authentication
• Single Sign On (SSO)
• User Lifecycle Management
• Compliance and Regulation
• Directory Management
• Others
• By Industry Vertical
• BFSI
• Healthcare and Life sciences
• IT & Telecommunication
• Energy & Utilities
• Manufacturing
• Education
• Government Organizations
• Others
• By Geography
• North America
• U.S.
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Norway
• Sweden
• Benelux Union
• Belgium
• The Netherlands
• Luxemburg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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SOURCE Absolute Market Insights