Exponential Rise in Connected Networking Devices across Enterprises to boost IoT Identity and Access Management (IAM) Sales

Published Date : Jan 30, 2018

ALBANY, New York, January 30, 2018 –MarketResearchReports.biz has announced the addition of a new report “Global IoT IAM Sales Market Report 2017” titled to its offering. The in-depth study on the global Internet of Things (IoT) identity and access management sales market offers the key business drivers, emerging opportunities, prominent adoption trends, share and size of key segments, and the competitive landscape. The study offers a detailed assessment of key factors boosting the sales of IAM for IOT in various regions Europe and Southeast Asia with a focus on countries such as United States, China, India, and Japan. The research evaluates the revenue share and the market sizing of key players and their pricing strategies.

The study highlights the lucrative avenues in the IoT IAM in a range of industries such as banking, financial services, and insurance (BFSI), telecom and IT, automotive, retail and consumer packaged goods, energy, oil, and gas, manufacturing, healthcare, and public sector and utilities. The burgeoning adoption of IoT system in various end-use industries for commercial and business applications and the growing complexity the IoT ecosystem have led to an exponential rise in identities that need to be managed by IAM.

The dynamically changing role of IoT in various business-critical applications has bolstered the demand for advancements in the current IAM. The proliferation of connected networking devices among enterprises in various parts of the world is spurring the sales of IoT IAM. Rising industry efforts to integrate robust IAM with IoT are boosting the sales of IoT IAM systems. The deployment of new IoT systems in various industry verticals and the staggering rise in smart sensors in the automotive sector are noteworthy trends accentuating the sales in various developing and developed regions.  

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The rising number of cybersecurity threats and breaches in the BFSI and automotive is stimulating the demand for IAM with advanced functionalities. The growing adoption of bring your own device (BYOD) and the vast rise in IIoT are key factors cementing the sales of IAM for IoT. The market is also expected to benefit significantly from context-based authentications       in IoT IAM. The advent of multi-factor authentication bodes well for the IAM sales in enterprises. Advancements in IoT network security is also expected to boost the market. Furthermore, constant modifications in IoT protocols is a crucial factor bolstering the sales of IAM for IoT systems in various parts of the globe.

The lack of awareness among enterprises and the limited business expertise in managing IAM for IoT are notable factors likely to act as a deterrent to the adoption of IAM. This may cripple the sales of IoT IAM to an extent. Furthermore, the budget constraints of small and medium- scale enterprises also may hinder the sales of IAM in IoT systems. Nevertheless, the advent of IAM systems that support an adaptive authentication for IoT will open promising prospects for market players in the forthcoming years. Furthermore, the need for doing away with legacy IAM systems in enterprises in various developing countries can also accentuate the sales of IoT IAM.

The adoption of new IT technologies in BFSI augurs well for the market. The significant strides taken by the energy, oil, and gas industries is stoking the demand for advanced IoT systems for boosting operations and productions. This will open up lucrative avenues for market players in the coming years. A burgeoning retail and consumer packaged goods sector in various developing regions bodes well for the market.

Prominent players operating in the global Internet of Things identity and access management sales market include Globalsign, Certified Security Solutions (CSS), Ping Identity Corporation, Covisint Corporation, Micro Focus International PLC, Gemalto NV, Logmein, Inc., and CA Technologies, Amazon Web Services (AWS).

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