Cloud IAM Market valued at US 3594.95 Billion in 2022 is anticipated to reach a value of US 1829.37 Billion in 2030, growing at a CAGR of 21.3%.
A clear and consistent access control interface is offered by cloud identity and access management (IAM) solutions for all cloud platform services. All cloud services can be accessed through the same interface. User identities and associated access permissions can be created, captured, recorded, and managed using IAM technology. All users are also verified, given permission, and evaluated in accordance with the regulations and duties. It supports keeping processes and procedures compliant. The fact that permissions are given based on employee needs and duties rather than being removed when they are no longer required has the significant disadvantage of giving users a lot of unused privileges.
User provisioning, access management, multi-factor authentication, directory services, single sign-on (SSO), governance & compliance management, and password management are just a few of the capabilities provided by Cloud IAM. For the purpose of enhancing customer engagement, acquisition, and retention, many firms have implemented cloud IAM. An effective cloud IAM system aids in preventing data security breaches, hence minimising potential financial losses.
One of the main elements driving the adoption of cloud IAM is its cost-effectiveness when compared to traditional IAM services. Because bandwidth and storage costs are falling at such rapid rates, businesses are embracing cloud applications on a wide scale.
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Segmental Analysis of Global Cloud IAM Market:
Based on Type
- Access Management
- User Provisioning
- Single Sign-On (SSO)
- Directories
- Password Management
- Audit governance and Compliance Management
Based on End-User
- SMB
- Large Enterprises
Based on Vertical
- BFSI
- Telecom and IT
- Energy, Oil and Gas
- Public Sector and Utilities
- Healthcare
- Manufacturing
- Education
- Retail
Competitive Landscape:
IBM, Microsoft, Broadcom, Auth0, CyberArk, Oracle Corporation, OneLogin, Inc., Hewlett Packard Enterprise, Sailpoint Technologies Holdings, Inc., Ping Identity, Okta, Dell and Evidian.
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Key Questions Answered:
- What developments are going on in this technology?
- Which trends are causing these developments? Who are the global key players in this market?
- What are their company profile, their product information, and contact information?
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