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Cloud Identity and Access Management Software Market Size (2024 - 2029)

The cloud identity and access management market is poised for significant growth, driven by the increasing need for security solutions to protect against identity-related crimes and the expanding use of cloud technology in business operations. The public cloud remains the most widely adopted deployment model, but hybrid cloud deployment is anticipated to grow rapidly, particularly among small and medium-sized enterprises. The rise in the use of personal devices for work is further propelling the demand for cloud IAM software. Additionally, the market has seen positive momentum during the COVID-19 pandemic, as IAM vendors provided essential support to enterprises, contributing to the market's expansion.

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Market Size of Cloud Identity and Access Management Software Industry

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Cloud Identity and Access Management Software Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 18.60 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Cloud Identity and Access Management Software Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Cloud Identity and Access Management Software Market Analysis

Over the next few years, the market for cloud identity and access management software is expected to register a CAGR of 18.6%. Cloud identity and access management (IAM) technology creates, captures, stores, and manages multiple user identities and access permissions. All users are checked out, given permission, and judged based on their roles and the company's rules.

  • Due to cost savings and economies of scale, cloud technology is revolutionizing how businesses operate. However, the lack of proper security measures can undermine the benefits of cloud computing. This calls for a fundamental need for security solutions, including security for identity-related crimes, and hence drives the market for cloud identity and access management.
  • The public cloud is the most popular type of cloud deployment on the market. This is because it is being used more and more in many different industries. However, hybrid cloud deployment is expected to register the highest CAGR over the forecast period because of growing adoption among small and medium-sized enterprises.
  • As mobile phones and tablets become more popular, employees can connect their phones and laptops to the business network. Instead of using their old office desktops, employees like to use their own devices in enterprises, which increases the need for cloud identity and access management software and hence drives the market studied.

During the COVID-19 impact period, cloud identity and access management (IAM) software was expected to have a positive impact on the market and contribute significantly to its growth over the forecast period. IAM vendors came forward to assist the enterprises. For instance, during the pandemic, IBM announced that it would make critical technologies such as IBM Security MAss360 with Watson and IBM Cloud Identity available at no charge for new clients for 90 days.

Cloud Identity and Access Management Software Industry Segmentation

The cloud identity and access management market includes cloud-based identity and access management solutions, including the software deployed on the cloud and used for preventing identity threats in an enterprise. The end-user verticals include IT and telecommunications, healthcare, BFSI, media and entertainment, retail, and education.

The cloud identity and access management software market is segmented by size of organization (SMEs and large organizations), solution (audit, compliance, and governance; single sign-on (SSO) and federated provisioning; privileged access management; directory service); deployment (public, private, and hybrid); end-user vertical (BFSI, healthcare, retail, entertainment, and media; IT and telecommunications; education); and geography.

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Size of Organization
SMEs
Large Organization
By Type of Solution
Audit, Compliance, and Governance
Single Sign-on (SSO) and Federated Provisioning
Privileged Access Management
Directory Service
Other Types of Solutions
By Deployment Type
Public
Private
Hybrid
By End-User Vertical
IT and Telecommunication
BFSI
Healthcare
Entertainment and Media
Retail
Education
Other End-User Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Cloud Identity and Access Management Software Market Size Summary

The cloud identity and access management (IAM) market is poised for significant growth, driven by the increasing need for secure and efficient management of user identities and access permissions in cloud environments. As businesses transition to cloud-based solutions for cost savings and scalability, the demand for robust security measures to protect against identity-related crimes is becoming paramount. The public cloud remains the most widely adopted deployment model, but hybrid cloud solutions are gaining traction, particularly among small and medium-sized enterprises. The rise of mobile devices in the workplace further fuels the need for cloud IAM software, as employees increasingly prefer using personal devices for work purposes.

North America leads the adoption of cloud-based IAM solutions, supported by a strong focus on cybersecurity and a high concentration of cloud-advanced organizations. The region's BFSI sector is a major adopter, driven by the need to combat credit card fraud and data breaches. The market is characterized by moderate competition, with key players like IBM, Microsoft, and Oracle driving innovation and consolidation. Recent developments, such as Microsoft's introduction of the Entra product family and Authomize's identity threat detection platform, highlight the ongoing advancements in IAM solutions. These innovations are crucial in addressing the rising threats of identity theft and cyberattacks, particularly in developed regions like North America and Europe.

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Cloud Identity and Access Management Software Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Number of Security Breaches and Related Costs

      2. 1.2.2 Increasing Trend of Using BYODs in Enterprises

    3. 1.3 Market Restraints

      1. 1.3.1 Vulnerability of Cloud-based Applications to Cyber Risks

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Technology Snapshot

    6. 1.6 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Size of Organization

      1. 2.1.1 SMEs

      2. 2.1.2 Large Organization

    2. 2.2 By Type of Solution

      1. 2.2.1 Audit, Compliance, and Governance

      2. 2.2.2 Single Sign-on (SSO) and Federated Provisioning

      3. 2.2.3 Privileged Access Management

      4. 2.2.4 Directory Service

      5. 2.2.5 Other Types of Solutions

    3. 2.3 By Deployment Type

      1. 2.3.1 Public

      2. 2.3.2 Private

      3. 2.3.3 Hybrid

    4. 2.4 By End-User Vertical

      1. 2.4.1 IT and Telecommunication

      2. 2.4.2 BFSI

      3. 2.4.3 Healthcare

      4. 2.4.4 Entertainment and Media

      5. 2.4.5 Retail

      6. 2.4.6 Education

      7. 2.4.7 Other End-User Verticals

    5. 2.5 Geography

      1. 2.5.1 North America

      2. 2.5.2 Europe

      3. 2.5.3 Asia-Pacific

      4. 2.5.4 Latin America

      5. 2.5.5 Middle East and Africa

Cloud Identity and Access Management Software Market Size FAQs

The Cloud Identity and Access Management Software Market is projected to register a CAGR of 18.60% during the forecast period (2024-2029)

Broadcom Inc. (CA Technologies), IBM Corporation, Microsoft Corporation, Oracle Corporation and Dell Technologies Inc. are the major companies operating in the Cloud Identity and Access Management Software Market.

Cloud Identity and Access Management Market Report Snapshots

Cloud Identity & Access Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)