IoT IAM Market Growing at a CAGR of 20.1% | Key player AWS (USA), Thales (France), IBM (USA), Microsoft (USA), Broadcom

“AWS (USA), Thales (France), IBM (USA), Microsoft (USA), Broadcom (USA), Open Text (Canada), Cisco Systems (USA), Ericsson ( Sweden), Google (US), Micro Focus (UK), Ping Identity (US), Oracle (US), Entrust (US), HID Global (US), DigiCert ( US), Okta (US), SailPoint (US), Dell EMC (US), Optiv Security (US), CyberArk (US), ForgeRock (US), One Identity (United States).

IoT IAM Market by Component (Solutions & Services), Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Deployment Mode, Organization Size, Vertical & Region – Global Forecast up to in 2027

The IoT IAM market size is expected to grow from USD 5.6 Billion in 2022 to USD 14.0 Billion by 2027, at a compound annual growth rate (CAGR) of 20.1% during the forecast period. The prolonged growth of the IoT across all industry verticals faces critical challenges in managing identities and governing access to vital business processes and information. IoT IAM vendors are enhancing their portfolio of solutions to help their customers meet these challenges and get the most out of their digital ecosystems.

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The BFSI vertical is expected to dominate the IoT IAM market in 2022.

The IoT has changed the way the banking and financial services industry works. As the banking industry deals with massive data transfer, data collection and analysis, IoT has a huge influence on it, which benefits both banking services and customers. IoT helps a bank in everything from increasing revenue to improving customer services. The BFSI industry always prefers IAM products and services that could protect employees, customers, assets, offices, branches and operations of the industry; this vertical therefore holds a significant percentage of the total IAM IoT market. As the BFSI industry comes up with new financial products and services to upgrade, banks need a multi-layered security approach to deliver an authenticated and authorized experience for customers.

Report scope

Report Metrics

Details

Market size available for years

2016-2027

Reference year considered

2022

Forecast period

2022-2027

Forecast units

Value (million USD/billion)

Segments Covered

By component, deployment mode, security type, organization size, verticals and region

Regions covered

North America, Europe, Asia-Pacific, Middle East and Africa, Latin America

Companies covered

AWS (USA), Thales (France), IBM (USA), Microsoft (USA), Broadcom (USA), Open Text (Canada), Cisco Systems (USA), Ericsson (Sweden) ), Google (US), Micro Focus (UK), Ping Identity (US), Oracle (US), Entrust (US), HID Global (US), DigiCert (US) United States), Okta (United States), SailPoint (United States), Dell EMC (United States), Optiv Security (United States), CyberArk (United States), ForgeRock (United States), One Identity (US), Verimatrix (France), KaaIoT (US), Identity Fusion (US), Keyfactor (US), GlobalSign (US), Blue Ridge (US), Sectigo ( United States) and FusionAuth (United States).

The network security segment is expected to grow with the fastest growth rate over the forecast period.

Network security protects the network and data from breaches, disruptions, and other threats. It includes several elements such as security software, hardware, and devices that work together to provide comprehensive network security layers. Companies are choosing IAM solutions because they improve protection and user experience and facilitate better business outcomes. IAM is a framework of policies, processes, and technologies that enable enterprises to manage digital identities and control user access to critical business information. The increasing use of smartphones, laptops and mobile devices is leading to network complexity within enterprises, which necessitates securing these devices.

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The major vendors covered in the IoT IAM market are AWS (US), Thales (France), IBM (US), Microsoft (US), Broadcom (US), Open Text (Canada), Cisco Systems (USA), Ericsson (Sweden). ), Google (US), Micro Focus (UK), Ping Identity (US), Oracle (US), Entrust (US), HID Global (US), DigiCert (US) United States), Okta (United States), SailPoint (United States), Dell EMC (United States), Optiv Security (United States), CyberArk (United States), ForgeRock (United States), One Identity (US), Verimatrix (France), KaaIoT (US), Identity Fusion (US), Keyfactor (US), GlobalSign (US), Blue Ridge (US), Sectigo ( United States) and FusionAuth (United States). These players have adopted various growth strategies such as partnerships, business expansions, agreements & collaborations, new product launches to expand their presence in the IoT IAM market.

Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon. It offers cloud computing platforms and on-demand APIs to individuals, businesses, and governments. Amazon Web Services is one of the leading cloud providers in the market. It is an online platform that provides cost-effective and scalable cloud computing solutions. Amazon offers services for cloud applications, such as compute service, storage, database, developer tools, security tools, networking, and content delivery. Currently, AWS provides a highly reliable and inexpensive infrastructure platform on the cloud. AWS offers Internet of Things (IoT) services and solutions to connect and manage billions of devices. It collects, stores and analyzes IoT data for industrial, consumer, commercial and automotive workloads. AWS (IoT) services include device software, which connects devices and operates them at the edge.

The Thales group is a French multinational that designs and builds electrical systems. The French government partly owns the company and operates in more than 56 countries. Thales is a world leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technologies. Thales entered the digital security sector after acquiring Gemalto, an international security company. The company is a key player in the aerospace and defense industry. It develops and supplies a range of airborne, naval and land-based systems for the commercial aviation, defense and homeland security sectors. The company operates in aerospace, defense and security, and digital identification and security. Thales IoT security solutions provide IoT data encryption and encryption key management for IoT devices. These solutions cover four major application areas, including smart grid security, IoT connected car, IoT secure manufacturing, and IoT healthcare.

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