Cloud Identity and Access Management (IAM) Market Size & Share, by Component (Solution, Services); Deployment Model (Cloud, On-premises, Hybrid); Organization (Large Enterprises, SMEs); End-user (IT, BFSI, Travel & Hospitality, Healthcare, Retail & e-Commerce, Energy & Utilities, Telecommunication) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4362
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Cloud Identity And Access Management Market size is estimated to surpass USD 21 Billion by the end of 2033, growing at a CAGR of 21% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of cloud identity and access management was USD 3 Billion. The growth of the market can primarily be attributed to the increasing number of identity fraud scams along with the growing concern for identity loss worldwide. For instance, approximately 40 million Americans were victims of identity fraud scams, which cost the population almost USD 50 million in 2021. Also, the increased security concerns in a cloud-based environment and penetration of blockchain technology in identity management are other factors anticipated to drive market growth.

The demand for cloud identity and access management is on the rise owing to the surge in cyberattacks and fraudulent activities, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global cloud identity and access management market during the forecast period. Cloud identity and access management leverage identity analytics and intelligence to track unusual activities from user accounts. It also has the advantage of identifying policy violations, deleting idle accounts, and removal of inappropriate access privileges. Thus, to eliminate the cases of cyberattacks while ensuring cyber security and data security, the demand for cloud identity and access management is expected to soar in organizations.


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Cloud Identity And Access Management Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Use of Software as a Service (SaaS) - This is driving the market for cloud identity and access management. IAM is a cloud service that controls the permissions and access for users and cloud resources such as SaaS and other cloud models in use. It was found that, in 2021, more than 90% of organizations of the world used one or more SaaS solutions.

  • Increasing Number of Security Attacks - With rapid industrialization and urbanization, fraudulent activities and cyberattacks have also increased which is considered a threat to confidential data. To protect important data and ensure data privacy, organizations are adopting cloud identity and access management to mitigate data breaches. This trend is projected to create a positive outlook for the revenue generation of the market.  It was observed that there were ~5 million distributed denial-of-service (DDoS) attacks in the first of 2021 across the globe.

  • Increasing Amount of Data - The emergence of a large amount of data generated every day, is generating the need for new terms of the variety of data that can be stored and managed in the core network that is secured tightly. This aspect is expected to drive the market for cloud identity and access management in the forecasted period. According to estimates, around 2.5 quintillion bytes of data were produced every day in 2021 worldwide.

  • Rising Penetration of the Internet - It was found that ~ 63% of the global population used the internet by the first quarter of 2022.

  • Growing Size Information Technology (IT) Industry - It was found that, in the year 2020, the global IT industry accounted for more than USD 5 trillion.

Challenges

  • Possibility of User Password Fatigue - which is the feeling expressed by users required owing to the challenge of remembering an excessive number of passwords. A password manager is a part of a comprehensive IAM approach that is layered with other IAM and security software.
  • Increasing Complexity with the Increasing Number of Applications Being Accessed
  • Concern about Siloed User Directories for Each Application

Cloud Identity And Access Management Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~21%

Base Year Market Size (2022)

~USD 3 Billion

Forecast Year Market Size (2033)

~USD 21 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Cloud Identity And Access Management Segmentation

Deployment Model (Cloud, On-premises, Hybrid)

The global cloud identity and access management market is segmented and analyzed for demand and supply by deployment model into cloud and on-premises and hybrid. Amongst these segments, the cloud segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing use of cloud computing by enterprises as well as the rising amount of data stored in the cloud worldwide. For instance, in the year 2021, more than 65% of global enterprise infrastructure was cloud-based. Furthermore, the various advantages of using cloud services are propelling large enterprises as well as small and medium enterprises to opt for cloud solutions for enterprise data management. Advanced cloud solutions are very much effective in ensuring advanced identity protection and reducing the chances of cyberattacks and cyber-crimes in the long run which in turn, is anticipated to bring lucrative growth opportunities in revenue generation of the segment.

By Industry - (Information Technology (IT), Banking, Financial Services and Insurance (BFSI), Travel and Hospitality, Healthcare, Retail and e-Commerce, Energy and Utilities, Telecommunication)

The global cloud identity and access management market is also segmented and analyzed for demand and supply by industry into information technology (IT), banking, financial services & insurance (BFSI), travel & hospitality, healthcare, retail & e-commerce, energy & utilities, and telecommunication. Out of these, the healthcare segment is attributed to holding the largest share by the end of the forecast period. The major factor that is projected for segment growth is the rapid expansion of the healthcare industry along with the rising digitization trends in the healthcare sector. Owing to the penetration of internet healthcare settings has led to the rise of telemedicine, EMR, e-health applications, and others which creates the need for cloud identity and access management to ensure data privacy. Moreover, the large number of inpatients and outpatients visiting hospitals which has created millions of patient identities is also anticipated to create a demand for cloud identity and access management to protect patients’ identities and their sensitive data. On the other hand, the financial services & insurance (BFSI) segment is also expected to hold a significant share in the next few years. The recent trend of online payments, e-wallets, and digital/net banking is expected to boost the need for cloud identity and access management in the assessment period. The BFSI sector is opting for cloud identity and access management solutions to ensure that the right access is given to the right people, data risks are reduced, and all the online data comply with security norms.

Our in-depth analysis of the global market includes the following segments:

              By Component

  • Solution
  • Services

              By Deployment Model

  • Cloud
  • On-premises
  • Hybrid

             By Enterprise Size

  • Large Enterprise
  • SMEs

             By Industry

  • Information Technology (IT)
  • Banking, Financial Services and Insurance (BFSI)
  • Travel and Hospitality
  • Healthcare
  • Retail and e-Commerce
  • Energy and Utilities
  • Telecommunication

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Cloud Identity And Access Management Industry - Regional Synopsis

North American Market Forecast   

The North America cloud identity and access management market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the growing dependence on online systems and data management, as well as increasing cloud-based data storage, coupled with massive penetration of distributed cloud in the region, along with rising use of the cloud by the federal governments. For instance, it was found that approximately 50% of all the U.S. state, local, and federal governments had some or most of their systems and solutions in the cloud in 2020. Other factors that are anticipated to contribute positively to the market growth are the rising adoption of remote work, the proliferation of IoT devices, and the penetration of internet services in every spectrum. Further, the expansion of the information technology and communications (ICT) industry, along with the presence of major key players in the region are other growth factors that are estimated to generate a significant amount of revenue in the region. The implementation of the General Data Protection Regulation (GDPR) along with the massive investments made to develop advanced solutions to prevent cyberattacks and identity fraud is also expected to drive the growth of this market in the region.

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Companies Dominating the Cloud Identity And Access Management Landscape

top-features-companies
    • Quest Software Inc. (OneLogin, Inc.)
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Delinea Inc.
    • Ping Identity Corporation
    • Broadcom Inc. (CA Technologies)
    • Sailpoint Technologies Holdings, Inc.
    • IBM Corporation
    • Microsoft Corporation
    • Oracle Corporation
    • Hewlett Packard Enterprise Company
    • Secureworks, Inc. 

In the News

  • Quest Software Inc. (One Login Inc.) launched its OneLogin Workflows and Universal Connector solutions, which will allow tech leaders to streamline complex identity lifecycle management processes and enable robust integrations across the cloud and on-premises systems.

  • Centrify Corporation (Delinea Inc.) and Thycotic announced that they have merged to form a leading cloud identity security vendor. The combined company has now begun integrations and will operate under the temporary name ThycoticCentrify.

Author Credits:  Abhishek Verma


  • Report ID: 4362
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising penetration of the internet as well as increasing use of the cloud services along with rising identity scams are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of 21% over the forecast period, i.e., 2023-2033.

Increasing complexity with the increasing number of applications being accessed as well as the possibility of password fatigue are some of the factors estimated to hamper the market growth.

The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Quest Software Inc. (OneLogin, Inc.), Delinea Inc., Ping Identity Corporation, Broadcom Inc. (CA Technologies), Sailpoint Technologies Holdings, Inc., IBM Corporation, Microsoft Corporation Oracle Corporation, Hewlett Packard Enterprise Company, Secureworks, Inc., and others.,

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by component, deployment model, enterprise size, and by region.

The cloud segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Cloud Identity and Access Management Market Report Scope
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