IoT IAM Market Size and Forecast 2024-2033|International Business Machines Corporation, Amazon.com Inc., GMO GlobalSign Inc., Ping Identity Corporation, ForgeRock Inc.

Overview and Scope

The IoT IAM (IoT identity and access management) is used to enable device identity management and access control, discover unmanaged devices, and take appropriate action. IoT IAM is used for the ease of communication between several IoT devices and other communication entities, to protect against data breaches and security attacks, and to provide the right tools to improve the productivity of employees working in any organization.

Sizing and Forecast

The iot iam market size has grown exponentially in recent years. It will grow from $7.47 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 29.9%. The growth in the historic period can be attributed to user authentication needs, data privacy regulations, rise of smart homes, consumer demand for convenience, identity theft concerns.

The iot iam market size is expected to see exponential growth in the next few years. It will grow to $27.46 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to biometric authentication adoption, user-centric identity models, personalized user experiences, regulatory compliance focus, enhancing device management, dynamic access controls.. Major trends in the forecast period include adoption of zero trust security models, integration with ai and machine learning, emergence of 5g networks, device lifecycle management, enhanced user authentication methods, edge computing and distributed iam.

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Segmentation & Regional Insights

The iot iam market covered in this report is segmented –

1) By Component: Solutions, Services

2) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types

3) By Deployment mode: Cloud, On-Premises

4) By Organization Size: Small and Mid-Sized Enterprises (SMEs), Large Enterprises

5) By Verticals: Banking, Finance services, and Insurance (BFSI), Automotive, Telecom, Healthcare, Retail and Consumer Goods, Energy and Utilities, Other Verticals

North America was the largest region in the IoT IAM market in 2023. Asia-Pacific is expected to be the fastest-growing region in the IoT IAM market report forecast period. The regions covered in the iot iam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

An increase in number of cyberattacks and data breach issues is expected to propel the IoT IAM market going forward. A cyberattack refers to an assault performed by cybercriminals to steal data and sensitive information by sending and hacking a computer system using malicious information. Data breaches refer to security violations in which sensitive information can be stolen from a computer system without prior permission of the owner of the system. Identity and access management are used at the current time to prevent any unauthorized access of information from the system of the company’s employees’ database. For instance, in September 2021, according to Digit, a Scotland-based technology media, and events company, the total number of IoT device cyberattacks was 1.5 million in 2021. Furthermore, in October 2021, according to Fortune, a US-based publishing company specializing in the publication of books, articles, and magazines, the total number of global data breach cases was 1,291 in 2021. Therefore, a rising number of cyberattacks and data breach cases are anticipated to fuel the growth of the IoT IAM market in the upcoming years.

Key Industry Players

Major companies operating in the iot iam market report are International Business Machines Corporation, Amazon.com Inc., GMO GlobalSign Inc., Ping Identity Corporation, ForgeRock Inc., Broadcom Inc., Microsoft Corporation, Oracle Corporation, Micro Focus International plc, Cloud Security Alliance Inc., ARCON TechSolutions Pvt. Ltd., Telefonaktiebolaget LM Ericsson, Hitachi ID Systems Inc., KaaIoT Technologies LLC, Okta Inc., HID Global Corporation, CyberArk Software Ltd., OpenText Corporation, Cisco Systems Inc., Google LLC, Entrust Datacard Corporation, SailPoint Technologies Inc., Dell Technologies Inc., Optiv Security Inc., Quest Software Inc., Identity Fusion Inc., Thales Group, DigiCert Inc., Keyfactor Inc., RSA Security LLC, Centrify Corporation, SecureAuth Corporation, Auth0 Inc., Idaptive LLC, Akamai Technologies Inc., Thycotic Software LLC, BeyondTrust Corporation, Cyberinc Corp., Avatier Corporation, NetIQ Corporation

The iot iam market report table of contents includes:

1. Executive Summary

2. IoT IAM Market Characteristics

3. IoT IAM Market Trends And Strategies

4. IoT IAM Market – Macro Economic Scenario

5. Global IoT IAM Market Size and Growth

26. South America IoT IAM Market

27. Brazil IoT IAM Market

28. Middle East IoT IAM Market

29. Africa IoT IAM Market

30. IoT IAM Market Competitive Landscape And Company Profiles

Top Major Players: