Cloud IAM is one of the evolving cloud services in cloud security market, exhibiting consistent growth in developed Asia Pacific countries over the years. The significantly increasing cloud adoption amongst enterprises both large and SMEs is the key driving factor.
Portland, OR -- (SBWIRE) -- 06/18/2018 -- Asia-Pacific Cloud IAM Market is expected to garner $574 million by 2020, registering a CAGR of 29.3% during the period 2015-2020. Cloud Identity and access (IAM) management is a business security framework that manages digital identities which ensures secure access to end users across multiple applications.
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The supplementing factors such as the increasing number of cyber-attacks, growing BYOD and other mobility trends, centralized access management and regulations for data protection & security are driving the growth of this market. Distrust on cloud IAM providers and inadequate awareness of cloud IAM, are some of the major factors limiting the growth of the cloud IAM market. Several cloud IAM vendors are aiming at developing more secure IAM solutions, customized according to specifications of end consumers at reduced prices, thereby creating numerous opportunities for the market. The prominent companies operating in the Asia-Pacific cloud IAM market have adopted acquisition, agreements, partnerships and product launch as their major growth strategies to gain a significant foothold in the market and expand their product portfolio.
The Asia-Pacific cloud IAM market is segmented based on deployment type, services, industry verticals and country. The cloud IAM services include user provisioning, access management, multi factor authentication, single sign-on, directory services, password management, and governance & compliance management. Asia-Pacific cloud IAM market is segmented based on different industry verticals, into BFSI, IT and telecommunication, healthcare, media & entertainment, retail, education and others.
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MARKET BY COUNTRY
Rest of Asia-Pacific (India, Malaysia and Indonesia)
SailPoint Technologies, Inc.