What is the Historical Analysis of the IoT IAM Market Size?
The iot iam market has seen considerable growth due to a variety of factors.
• In recent times, the size of the IoT IAM market has seen a significant increase. From being worth $9.53 billion in 2024, it's predicted to increase to $12.27 billion in 2025, with a compound annual growth rate (CAGR) of 28.8%. Factors such as the need for user authentication, data privacy laws, the emergence of smart homes, the public's demand for convenience and worries about identity theft have all contributed to its growth during the historical period.
What Is The Projected Growth Of The IoT IAM Market Size In The Coming Years?
The IoT IAM market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for IoT IAM is set to experience substantial expansion in the coming years, escalating to $36.13 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 31.0%.
This expected rise during the forecast period is due in part to the increasing use of biometric authentication, user-centric identity models, customized user experiences, emphasis on regulatory compliance, improved device management, and evolving access controls. Key anticipated trends in the forecast period incorporate the acceptance of zero trust security models, integration with artificial intelligence and machine learning, the rise of 5G networks, management of device lifecycles, reinforced user authentication methods, along with edge computing and distributed IAM.
What Are The Key Drivers Fueling Growth In The IoT IAM Market?
The IoT IAM market is predicted to be driven forward by a rise in cyberattacks and data breaches. Cybercriminals often carry out cyberattacks to illicitly gain and pilfer data and confidential information by infiltrating and manipulating a computer system with harmful information. Data violations, or breaches, are when confidential data from a computer system is unlawfully taken without the consent of the system's owner. Currently, identity and access management are utilized to prevent unauthorized individuals from accessing company systems or its employee's database. For example, Parachute Technology, an American IT solutions firm, reported in April 2024 that government agencies faced 49 cyber incidents in the first half of 2023, an increase of 11% from 2022. As such, the escalating instances of cyberattacks and data breaches are expected to stimulate growth in the IoT IAM market in the foreseeable future.
What Are The Principal Market Segments In The Global IoT IAM Industry?
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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Which Emerging Market Trends Are Altering The IoT IAM Industry?
The emergence of new technologies is an emerging trend gaining traction in the IoT IAM market. To solidify their standing in the market, major market players are focusing their energies on developing cutting-edge technology. For example, in August 2022, Okta, Inc., a U.S.-based firm focused on identity and access management (IAM), launched Unified IAM, also known as Okta Identity Governance. This is a cloud-based governance solution replete with identity governance and administration (IGA) tools aimed at enhancing security and compliance stances within organizational IT infrastructures. Okta Identity Governance offers cloud-friendly, intuitive technology which is not only easily deployable by IT teams but also simple for employees to use. It effectively ensures a comprehensive identity platform and regulated access to IT infrastructure and gadgets.
Who Are the Key Players In The IoT IAM Market?
Major companies operating in the IoT IAM market include:
• 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 Are The Regional Insights Into 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.
