Global IoT IAM Market Report, Industry Analysis and Forecast to 2029

The global IoT IAM market was valued at USD 4.91 billion in 2021 and is projected to reach USD 47.5 billion in 2029, at a Compound Annual Growth Rate (CAGR) of 25.1% during the forecast period 2022-2029.

The world of the Internet of Things (IoT) is expanding at a rapid pace. Connected devices continue to streamline business processes and make lives easier for the general consumers. Identify Access Management (IAM), is a body of technologies and policies to ensure that the right users have the appropriate access to technology resources. IAM also helps identify devices, besides managing user access to data.

There are different security types such as cloud technology, network technology, endpoint technology, application security and others. Additionally, there are several offerings and deployment model for IAM solutions. This report emphasise the security type, offerings, deployment model and enterprise size for the IAM solutions in different regions and countries over the forecast period.

Global IoT IAM Market Overview

The global IoT IAM demand is driven by the rise of security breaches and fraud cases and increasing investment in cyber security has created a new avenue for IoT identity access management in the market. Additionally, shift from IAM to IoT IAM due to efficient connectivity between various business processes. Even though Internet of Things is rapidly growing in the digital era, restrictions such as lack of technical expertise and awareness of IoT security professionals is expected to hamper the growth of the market during the forecast period.

IoT IAM Market Dynamics

As cyber security threats are increasing along with the complexity of data analysis and risk management, the need for robust security solutions that safeguards the user information and the data they are accessing has also increased. Penetration of cloud-based applications and technologies along with the growing trend of digital transformation to support the remote work culture is also expected to create lucrative opportunities in the global IoT IAM market. IAM systems are continuously evolving to integrate IoT to include features like device centric identity and access management, comprehensive device visibility, end to end data security and thus, facilitating the growth of IoT IAM market.

Additionally, with the rise in remote workforce due to pandemic, the increase in vulnerability of connected devices to tackle the security risk and malware attacks accelerates the demand for robust IoT IAM solution across organizations.

However, the high cost associated with implementation and maintenance of IoT identity access management and the increase in privacy and security concerns over the internet can hamper the market growth during the forecast period.

IoT IAM Market Report Outlook

The Automotive Lubricants market report focuses on different aspects regarding security type, deployment model and enterprise size for IoT IAM solutions, and across the different industry verticals operating in IoT IAM market. The research analyses the different security types, deployment model and enterprise size of the product in order to obtain a better understanding regarding the growth and trends of the market since 2019 which also facilitates the estimation of the upcoming growth of the market in the next 7 years.

IoT IAM Market Competitive Landscape

The report also holds competitive analysis which can be used to differentiate different types of products; technologies used in building the products; prices; innovation in R&D; organic and inorganic growth strategies; financial analysis to determine the revenue generation and other key aspects of the finance; new partnership, joint ventures, collaborations, and acquisitions; market share of the top competitors in the market; and understand the growth strategies being undertaken by these major players to analyses the future market trends.

For instance, in Dec 2019, IBM Corporation enhanced risk detection in identity management by implementing artificial intelligence technology. IBM cloud identity with AI -based adaptive access helps to monitor consume risk levels while accessing services and applications. Additionally, in Jan 2019, Akami Technologies acquired Janrain Inc., a U.S. based customer identity access management (CIAM) company. This acquisition is expected to provide security benefits to CIAM customers.

Other major players holding prominent share in the automotive lubricants market include Cisco Systems Inc., LM Ericsson, Amazon Web Services, Google LLC, Microsoft Corporation, Oracle Corporation, HID Global, DigiCert, Key factor among the others. There are several regional and local players in this market across the globe which are contributing towards the revenue growth of the market and thus expected to flourish with new launches and expansion in the upcoming years.

IoT IAM Market Regional Analysis

The market synopsis will also cover the regional dynamics and growth prospects which would include regions- North America, Asia Pacific, Europe, Latin America, Middle East and Africa. These regions will be analysed per countries on the basis of market drivers, restraints, opportunities, and trends to get a closer view of the market studied.

Depending on the region, North America dominate the global IoT IAM market in 2021 and is expected to acquire the highest share during the forecast period owing to the presence of key market players in the region and increasing adoption of advance technologies by the people. Additionally, penetration of internet and cloud-based applications along with rise in use of smartphones and mobile application has created a need for IAM solutions. US holds the major share in the region.

Asia Pacific is expected to acquire to register a rapid growth with a significant CAGR during the forecast period. The growth of the IoT IAM market is highly driven by technological advancement across the region.  China is anticipated to be the leading country for IoT IAM Market growth in Asia Pacific, followed by Japan. Scrutinizing these factors for the countries are expected to enhance the value chain of the Automotive Lubricants market and aid us with better insights about the same.

IoT IAM Market In-depth Analysis Aspects

To mention certain other aspects which will include the Porter Five Forces, Pricing analysis, PESTEL Analysis, Export-Import data, and Industry Value Chain will also bind the analysis of the report.

Research Methodology

The study period of the market is considered to be 7 years (2022-2029) which will be analysed through the two major research techniques – Primary and Secondary Research methods. The primary research method includes the interviews of the key personnel in the industry considered as the industry experts, major distributors, suppliers, and consumer base sample survey to understand the direct perspective of the market. Additionally, these data are backed by the secondary research method which includes company overview through websites, annual reports, SEC filings, investor presentations, news, and databases. The growth trends are always measured on the basis of current and past scenarios considering any recent news which can drastically impact the growth rate of the market studied. Moreover, the consumption forecast depends on the company’s upcoming plans and revenue generation aspects.

Benefits of The Report

• The report is designed to understand the past, present and future market scenarios considering all the growth, restraining, and other factors influencing the market studied.
• The report is designed with the assistance of the industry experts for better understanding on the market studied
• The market is analysed with in-depth study of the company’s view on the market considering the present economical, political, social, geographical, and legal factors.
• To gain a clear insight for better future perspective of the market studied in 360-degree synopsis.
• Understand the competition in the market being a part of the market or a new entrant in the market.
• Analyse the different aspects in different geographies influencing the growth of the market through diverse consumer base.