Iot Iam Market Size, Share, Industry Trends and Forecast to 2030

1. What is the Market Size & CAGR of IoT IAM market in 2021?

The global IoT IAM market is expected to reach a market size of USD 5.6 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 20.3% from 2021 to 2026. The increasing adoption of IoT devices across various industries is a key factor driving the growth of the IoT IAM market.

2. COVID-19 Impact on the IoT IAM Market

The COVID-19 pandemic has accelerated the adoption of IoT devices and technologies across industries as organizations look for ways to increase efficiency and improve operations in a remote working environment. This has also increased the demand for IoT IAM solutions to ensure secure access and authentication for users.

3. IoT IAM Dynamics

The IoT IAM market is driven by factors such as the increasing number of connected devices, growing concerns around data security and privacy, and the need for seamless user authentication and access control. Additionally, the rise of cloud-based IAM solutions and the integration of artificial intelligence in IAM systems are shaping the dynamics of the IoT IAM market.

4. Segments and Related Analysis

The IoT IAM market can be segmented based on the type of solution (Single Sign-On, Multi-Factor Authentication, Identity Governance, etc.), deployment mode (Cloud, On-Premises), and industry verticals (Manufacturing, Healthcare, Retail, etc.). Each segment offers unique opportunities and challenges for market players.

5. By Region Analysis

The IoT IAM market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the early adoption of IoT technologies, while the Asia Pacific region is expected to witness significant growth due to the increasing digitization initiatives.

6. Key Market Players and Competitive Landscape

Key players in the IoT IAM market include companies such as IBM Corporation, Microsoft Corporation, Intel Corporation, Cisco Systems Inc., and Symantec Corporation. The market is highly competitive with players focusing on product innovation and strategic partnerships to gain a competitive edge.

7. Recent Happenings in the IoT IAM Market

In recent developments, IBM announced the launch of a new IoT IAM solution that offers enhanced security features for connected devices. Microsoft introduced Azure IoT Identity Service, a cloud-based IAM solution for IoT devices. These developments highlight the growing importance of IoT IAM solutions in the rapidly evolving IoT landscape.