IoT (Internet of Things) & Access Management Global Market, Increase in Cyber Security Breaches By 2022 with a growing CAGR

Market Highlights:

Internet of things and Access Management market is growing at a rapid pace owing to the factors such as rising bring your own device (BYOD) trend, and increase in frequency of cyber-attacks. Several IoT product & service providers has started adopting various device identity & access technologies into IoT platforms to simplify security designs in IoT deployments. This situation accelerates the adoption of IoT & access management market. According to a recent study report published by the Market Research Future, The global market of IoT & Access Management is increasing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).

The IAM application software tools are used by all organizations ranging from small IT departments to large global IT departments. The IAM application tools can also be customized for global IT departments. The major driving factors for growth of IOT- identity access management market are the growing adoption of cloud services, merchandising of functions of identity access management, boosting consumer-grade identities by social media & bring your own device (BYOD) and rising consumer centric identity access management.

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Major Key Players

IBM Corporation (U.S.),
Microsoft Corporation (U.S.),
Hitachi, Ltd. (Japan),
EMC Corporation (U.S.),
Intel Security Group (U.S.),
Siemens AG (Germany),
Oracle Corporation (U.S.),
ARCON Tech Solutions (India),
Cloud Security Alliance (U.S.)
CA Technologies (U.S.)

The Global IOT- Identity Access Management Market is expected to grow at USD 20 billion by the end of year 2022 with the 16% of compound annual growth rate.

Latest Industry News:

Dec 2017 IBM as part of an effort to make various forms of identity access management (IAM) software more easily accessible, opened an online marketplace through which IT organizations can download multifactor security software from IBM and others. The IBM Security App Exchange is intended to make it simpler for IT security teams to evaluate multiple approaches to multifactor authentication spanning everything from hardware-based tokens, to biometrics.

Sep 2017 SAP, best known for its durable enterprise apps and the HANA in-memory database, is expanding its presence in another direction: customer identity and access management. The Walldorf, Germany-based company said recently that it is in the process of acquiring Gigya, considered one of the world’s leading vendors in that category. The terms of the transaction were not disclosed, but one published report estimated the deal to be worth about $350 million. Gigya's customer identity and access management platform enables enterprises to build effective, lasting relationships with their customers. Its platform allows companies to manage customers' profile, preference, and opt-in and consent settings, with users maintaining control of their data at all times. Gigya said it currently manages 1.3 billion customer identities.

Dec 2017 Australia’s Department of Defence has handed a $17.5 million contract to Oracle for the 12-month provision of software support for database, identity and access management software licenses. The database software that Oracle supports is used extensively across Defense for business and capability related activities, with the latest deal likely following on from an earlier $113.6 million, year-long contract which was set to expire this month, for the provision of software licenses and support.

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Global IOT- Identity Access Management Market – Segments

On The Basis Of Services: User Provisioning, Multi-Factor Authentication, Directory Services, Password Management, Access Management and Single-Sign-On (SSO) among Others.
On The Basis Of Deployment: On-Cloud, On-Premise and Hybrid.
On The Basis Of Industry: Small And Medium Enterprises (SME’s) And Large Enterprises among Others.
On The Basis Of End-User: IT & Telecom, Government, Energy & Utility Services, Education, Retail & E-Commerce, Banking & Financial Services, Media & Entertainment and Manufacturing among Others.
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.

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This release was published on openPR.