IoT IAM
The IoT IAM Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the IoT IAM Market Size and Projected Growth Rate?
In recent times, there has been a significant expansion in the size of the IoT IAM market. It is projected to surge from $9.53 billion in 2024 to $12.27 billion in 2025, with a compound annual growth rate (CAGR) of 28.8%. This historical growth can be attributed to various factors such as the need for user authentication, data privacy laws, an increase in smart homes, consumer preference for convenience, and worries about identity theft.
It is projected that the IoT IAM market will expand rapidly in the coming years, reaching a value of $36.13 billion by 2029 with a compound annual growth rate (CAGR) of 31.0%. The expected growth within this forecasted period could be attributed to several factors such as the integration of biometric authentication, user-focused identity models, tailored user interactions, emphasis on regulatory compliance, improved device management, and application of dynamic access controls. In the same period, the market will be driven by key trends such as the implementation of zero-trust security models, AI and machine learning integration, the rise of 5G networks, device lifecycle regulation, advanced user authentication procedures, edge computing, and the dissemination of IAM.
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What Are the Major Segments in the IoT IAM Market?
The IoT IAM market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Small And Mid-Sized Enterprises (SMEs), Large Enterprises
5) By Verticals: Banking, Finance Services, And Insurance (BFSI), Automotive, Telecom, Healthcare, Retail And Consumer Goods, Energy And Utilities, Other Verticals
Subsegments:
1) By Solutions: Identity Management Solutions, Access Management Solutions, Authentication Solutions, User Provisioning Solutions, Privileged Access Management Solutions
2) By Services: Consulting Services, Implementation Services, Managed Services, Support Snd Maintenance Services
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What Are The Driving IoT IAM Market Evolution?
The upsurge in cyberattacks and data breach incidents is projected to drive the IoT IAM market in the coming years. Cyberattacks involve cybercriminals launching attacks to pilfer data and sensitive information via computer system hacking using malicious content. Data breaches, on the other hand, denote security infringements where sensitive data can be illegally extracted from a computer system without the system owner’s consent. To preempt unauthorized data access from a company’s employee system, identity and access management are currently in use. For example, Parachute Technology, a US-based IT solutions company, reported that in the first half of 2023, government agencies experienced an 11% increase in cyber incidents, totaling 49 compared to 2022. Consequently, the expected rise in cyberattacks and data breach incidents is anticipated to spur the growth of the IoT IAM market in the future.
Which Firms Dominate The IoT IAM Market Segments?
Major companies operating in the IoT IAM market are International Business Machines Corporation, Amazon.com Inc., GMO GlobalSign Inc., Ping Identity Corporation, ForgeRock Inc., Broadcom Inc., Microsoft Corporation, Oracle Corporation, Micro Focus International PLC, Cloud Security Alliance Inc., ARCON TechSolutions Pvt. Ltd., Telefonaktiebolaget LM Ericsson, Hitachi ID Systems Inc., KaaIoT Technologies LLC, Okta Inc., HID Global Corporation, CyberArk Software Ltd., OpenText Corporation, Cisco Systems Inc., Google LLC, Entrust Datacard Corporation, SailPoint Technologies Inc., Dell Technologies Inc., Optiv Security Inc., Quest Software Inc., Identity Fusion Inc., Thales Group, DigiCert Inc., Keyfactor Inc., RSA Security LLC, Centrify Corporation, SecureAuth Corporation, Auth0 Inc., Idaptive LLC, Akamai Technologies Inc., Thycotic Software LLC, BeyondTrust Corporation, Cyberinc Corp., Avatier Corporation, NetIQ Corporation
What Trends Are Expected to Dominate the IoT IAM Market in the Next 5 Years?
The propagation of tech improvements has emerged as a significant trend gathering momentum in the IoT IAM market. The leading market competitors are focusing on developing innovative technology to consolidate their foothold in this area. For example, Okta, Inc., a company from the United States that deals with identity and access management (IAM), launched Okta Identity Governance (Unified IAM) in August 2022. This is a cloud-based governance solution that includes identity governance and administration (IGA) tools aimed at bolstering security and compliance frameworks within organizational IT infrastructure. Okta Identity Governance offers user-friendly technology situated in the cloud, simplifying deployment for IT teams, making it easy for employees to use, and providing comprehensive identity platforms and regulated access to IT infrastructure and devices.
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Which Is The Largest Region In The IoT IAM Market?
North America was the largest region in the IoT IAM market in 2024. Asia-Pacific is expected to be the fastest-growing region in the IoT IAM market report forecast period. The regions covered in the IoT IAM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT IAM Market?
2. What is the CAGR expected in the IoT IAM Market?
3. What Are the Key Innovations Transforming the IoT IAM Industry?
4. Which Region Is Leading the IoT IAM Market?
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