Growing Awareness about Cloud identity access management | #cybersecurity | #cyberattack

New Trends in Cloud identity access management market is expected to reach US$ 8,147.87 million by 2027, growing at an estimated CAGR of 15.9% over the forecast period due to rise in awareness about compliance management

Some of the players operating in the cloud identity access management market are Auth0 Inc., Broadcom, Gemalto NV, Google LLC, Hitachi ID Systems

Insightful data based on Cloud identity access management market has been recently published by Absolute Markets Insights. The report provides profound information on effective analysis of the businesses. Moreover, the report uses an exploratory technique such as qualitative and quantitative analysis to discover the data of the market in question. By introducing distinctive efficient sales strategies the report provides, ways to impel the customer growth.

Rise in awareness towards compliance management is driving the growth of cloud identity access management market. Looking at high severity of threats and huge financial harms, governments and regulatory bodies such as the Federal Financial Institutions Examination Council introduced an assortment of mandatory guidelines and protocols for security and privacy of business data. Regulatory acts such as Gramm-Leach-Bliley Act, “Health Insurance Portability and Accountability Act”, and “Personal Information Protection and Electronics Document Act” and standards such as “Payment Card Industry-Data Security Standard” and “Sarbanes-Oxley Act” necessitate businesses to fulfill various data standard.

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A most recent regulation that is “General Data Protection Regulation” requires strong security and user access controls. The state of New York’s Department of Financial Services recently implemented new cybersecurity regulations that present various guidelines and frameworks for the secure operations of financial service enterprises that operate in New York. Such initiatives will drive organizations across multiple verticals to adopt identity access management solutions. Cyber Attack is another factor fuelling the cloud identity access management market. In coming years, the market would witness rise in adoption of cloud based solutions which is notably low in the present scenario. This is primarily due to inclination of business enterprises towards adoption of cloud architecture in their overall process.

Different global regions, such as North America, Latin America, Japan, Asia-Pacific and India have been analyzed to understand the current scope of cloud identity access management market as well as to predict the future. This statistical data identifies key driving factors and restraints, which are driving the growth or hampering the market. Competition in global business environment have been studied by profiling the leading industry key players to get more details about successful strategies of top level companies. The entire demanding and supply chain have been examined to determine the strategies for international trading.

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Key Findings of the Report:

In terms of revenue, global cloud identity access management market is expected to reach US$ 8,147.87 million by 2027.

User life cycle management solution held the largest share of about US$ 743.15 million in 2019 and is expected to continue the same trend over the forecast period.

On the basis of industry vertical, BSFI held the largest share of about US$ 528.57 million in 2019 and is anticipated to exhibit the highest CAGR of 17.9% over the next eight years.

Some of the players operating in the cloud identity access management market are Auth0 Inc., Broadcom, Gemalto NV, Google LLC, Hitachi ID Systems, Inc. IAM Technology Group Ltd, IBM CORPORATION., IDaptive, LLC, IDMWORKS, Micro Focus International plc, OneLogin Inc. amongst others

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Global Cloud Identity Access Management Market

By Solution

Multifactor Authentication
Single Sign On (SSO)
User Lifecycle Management
Compliance and Regulation
Directory Management

By Industry Vertical

Healthcare and Life sciences
IT & Telecommunication
Energy & Utilities
Government Organizations

By Geography

North America
Rest of North America
The UK
Nordic Countries
Benelux Union
The Netherlands
Rest of Europe
Asia Pacific
New Zealand
South Korea
Southeast Asia
Rest of Southeast Asia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Latin America
Rest of Latin America

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