Global IoT IAM Market Revenue, Opportunity, Segment, and Key Trends Analysis to 2027 (Internet Services - Other Internet Services)

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Global IoT IAM Market Revenue, Opportunity, Segment, and Key Trends Analysis to 2027

Bharat Book Bureau Provides the Trending Market Research Report on “IoT IAM Market by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027” under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.

The global 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. With the rapid and widespread adoption of IoT devices, practically every industry sector is exposed to IoT botnet-based cybersecurity threats. Therefore, organizations across the globe are adopting IoT security and deploying advanced IAM solutions to safeguard their connected computing and personal devices.

COVID-19 has been one of the biggest global challenges of the current generation. The ongoing projects were paused due to a decline in the budgets. The projects, which were highly strategic initiatives and projects involving technologies directly linked to COVID-19, were not put on hold. New trends emerge such as work from home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security and desktop support. Due to BYOD and virtual working trends, there was high rise in cyberattacks. The increase in cyberattacks and new vulnerabilities is leading organizations worldwide to rethink their security setups.

To manage employees working from home, companies rely extensively on remote-based monitoring of the workforce, enhancing the demand for IoT solutions. This helps bring transparency, provide real-time tracking, improve safety, and ensure meeting government compliance. However, the cybersecurity of remote workforce and enterprises plays a vital role in catering to their clients during lockdowns. Therefore, it offers opportunities for the IoT identity and access management market.

The small and medium sized enterprises are estimated to account higher CAGR during the forecast period

SMEs are increasingly investing in Internet of things (IoT) to gain a competitive edge. Instead of full-scale investment in IoT, SMEs opt for secure and stable IoT platforms. These platforms facilitate these SMEs to overcome technical challenges without having to solve them internally. Also, to protect IoT applications and networking devices from unauthorized access, vulnerabilities, and attacks, SMEs opt for IAM solutions. Cybercriminals intend to benefit from the poor security in this segment by using the automation technique to attack many applications at a time. Hence to protect data and integrity and user confidential information, SMEs are opting for IAM solutions.

Among regions, APAC to hold higher CAGR during the forecast period

The growth of the IoT IAM market in APAC is highly driven by the technological advancement across the region. China is anticipated to be the leading country for IoT IAM Market growth in Asia Pacific, followed by Japan. IoT IAM market continues to grow steadily across multiple industries like transportation, retail, manufacturing, resources, and utilities driven by the increased capacity and reliability of fiber and cellular network infrastructure. The increased focus on building smart infrastructures such as wider connectivity coverage, 5G deployment, public wi-fi zones, smart grid, and initiatives like smart cities, Industry 4.0, and special economic zones are the main driving factors for the IoT IAM market growth in the countries across Asia Pacific region

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the IoT IAM market.

§By Company: Tier I: 18%, Tier II: 9%, and Tier III: 73%
§By Designation: C-Level Executives: 9%, Directors: 18%, and others: 73%
§By Region: North America: 55%, Europe: 9%, Asia Pacific: 36%

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Last Update : Jul 02, 2022 8:06 AM
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