U.S (New York) – New research study titled “Asia-Pacific Cloud Identity and Access Management (IAM) Market ” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
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. 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. Additionally, 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.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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. In addition, increased focus of prominent cloud services providing companies on emerging economies is driving investments in cloud IAM in Asia-Pacific.
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. IT & telecom and BFSI witnessed the highest adoption of Asia-Pacific cloud IAM services over the forecast period (2015-2020). Based on deployment type, the market is further categorized into private cloud, public cloud and hybrid cloud.
Among the three, private cloud dominated the overall Asia-Pacific cloud IAM market owing to enhanced security risks as compared to public cloud and hybrid cloud. The market has been analyzed on the basis of countries which include Japan, Australia, Singapore, South Korea, China and Rest of Asia-Pacific.
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POTENTIAL BENEFITS FOR STAKEHOLDERS:
The study provides an in-depth analysis of the Asia-Pacific cloud IAM market with current and future trends to elucidate the imminent investment pockets in the market
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
The report identifies key drivers, opportunities and restraints that shape the market and provide an impact analysis of these factors during the forecast period
Quantitative analysis of the current market and estimations during the period of 2015-2020 have are provided to highlight the financial appetency of the market
SWOT analysis of key market players highlight essential strengths and potential opportunities in the market
KEY PLAYERS
IBM Corporation
Fujitsu
Microsoft Corporation
SailPoint Technologies, Inc.
EMC Corporation
CA Technologies
Intel Corporation
Dell, Inc.
Oracle Corporation
Hewlett-Packard Company
CLOUD IDENTITY & ACCESS MANAGEMENT MARKET SEGMENTATION
The market is segmented on the basis of deployment type, services, industry vertical and geography.
MARKET BY SERVICES
User Provisioning
Access Management
Multi Factor Authentication
Single Sign-on
Directory Services
Password Management
Governance & Compliance Management
MARKET BY INDUSTRY VERTICALS
BFSI
IT & Telecommunication
Healthcare
Media & Entertainment
Education
Retail
Others (Energy, Oil and Gas, Public Sector and Utilities)
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MARKET BY DEPLOYMENT TYPE
Private Cloud
Public Cloud
Hybrid Cloud
MARKET BY COUNTRY
Japan
Australia
Singapore
South Korea
China
Rest of Asia-Pacific (India, Malaysia and Indonesia)
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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