Cloud Identity and Access Management Software Market Size

Statistics for the 2023 & 2024 Cloud Identity and Access Management Software market size, created by Mordor Intelligence™ Industry Reports. Cloud Identity and Access Management Software size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Cloud Identity and Access Management Software Industry

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