The global cloud identity and access management market size was US$ 3768.2 million in 2021. The global cloud identity and access management market size is forecast to reach US$ 21,265.2 million by 2030, growing at a compound annual growth rate (CAGR) of 21.2% during the forecast period from 2022 to 2030.

Cloud identity and access management (IAM) solutions provide a uniform and easy-to-use interface for access control. All cloud services can utilize the same interface. Using IAM technology, users can initiate, capture, record, and manage their identities and access permissions. Furthermore, all users are authenticated, authorized, and evaluated in accordance with policies and roles. It ensures compliance with processes and procedures. However, permissions are granted based on the needs and tasks of employees and not revoked when they are no longer necessary, leaving users with a great deal of unnecessary privileges. 

Factors Influencing Market Growth

• A key factor responsible for the growth of the cloud identity and access management market is the adoption of government regulations regarding identity and access management, coupled with a record level of cloud adoption. 
• Increased concern about security in cloud-based environments and a lack of trust in cloud IAM providers may slow down the overall market's growth. 
• Developing economies' industrial development is likely to spur the adoption of cloud identity and access management services. With the adoption of cloud IAM in BFSI, IT & telecom, and retail, the global market will grow exponentially. 

Impact Analysis of COVID-19

COVID-19 had a positive effect on the market. The surge in demand for cloud services during the pandemic resulted in people making use of cloud-based access control management systems for managing authentication of employees and staff through cloud services as well as storing records. In addition, as people began to work remotely, the cloud access management system helped define roles and grant permissions to users at different levels of granularity. Additionally, the ability to reduce spending on enterprise security by relying on the centralized trust model to manage identity across third-party and own applications stimulated the demand for cloud identity and access management during the COVID-19 pandemic.

Regional Insights

In 2021, North America dominated the global cloud identity and access management market and is forecast to continue dominating during the forecast period. This market is likely to expand due to government regulations implemented in North America, and the need for organizations to adhere to these regulations. There are around 380 new cyber security regulations issued by the U.S. government each year. Cyber security is one of the major threats to sectors like BFSI, IT and Telecom, and retail in North America. 

The Asia Pacific is forecast to have the highest CAGR during the forecast period. The surge in the adoption of cloud IAM services by small and midsize businesses (SMBs) coincides with a surge in cyberattacks in the region.   

Leading Competitors

The leading prominent companies profiled in the global cloud identity and access management market are:

• IBM
• Microsoft
• CA, Incorporated
• Secureworks, Incorporated
• Oracle Corporation
• Intel Corporation
• OneLogin, Incorporated
• Hewlett Packard Enterprise Development LP
• Sailpoint Technologies Holdings, Incorporated
• Ping Identity
• Other Prominent Players

Scope of the Report

The global cloud identity and access management market segmentation focuses on Services, Deployment Mode, Industry Vertical, and Region.

Segmentation based on Services

• User Provisioning
• Single Sign-On
• Access Management
• Multi-Factor Authentication
• Password Management
• Directory Services
• Governance and Compliance Management

Segmentation based on Deployment Mode

• Public
• Hybrid
• Private

Segmentation based on Industry Vertical

• BFSI
• IT and Telecommunication
• Healthcare
• Media & Entertainment
• Retail
• Education
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America