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IoT IAM Market to Reach $4.97 Billion by 2021 - By Solution, Service, Security Type, Deployment Mode, Organization Size, Vertical & Region - Research and Markets

[January 16, 2017]

IoT IAM Market to Reach $4.97 Billion by 2021 - By Solution, Service, Security Type, Deployment Mode, Organization Size, Vertical & Region - Research and Markets

Research and Markets has announced the addition of the "IoT IAM Market by Solution, Service (Professional and Managed Service), Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2021" report to their offering.

The Internet of Things (IoT) Identity Access Management (IAM) market size is expected to grow from USD 1.10 Billion in 2016 to USD 4.97 Billion by 2021, at a CAGR of 35.2% during the forecast period.

The IoT IAM market is driven by factors such as rise in adoption of BYOD trend, rise in frequency of cybersecurity breaches and cyberattacks, and massive growth in the IoT trend. However, lack of security, expertise, & awareness and cost and budget concerns for IoT IAM solutions may restrict the market growth, and difficulties in assigning unique identities for every network asset of an organization may also limit the growth of the IoT IAM market.

Organizations are continuously deploying IoT IAM solutions for the management of identities and policies associatedwith devices and users across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, the professional services segment is expected to have the largest market size in 2016.

The authentication segment is estimated to grow at the highest CAGR during the forecast period, as authentication is the primary process for verifying the user and device identities to make the applications accessible. Furthermore, provisioning will have the largest market size in 2016, as provisioning deals with access resources within Information Technology (IT) and use to manage identities and policies.

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