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Increase in the number of cyber-attacks, growing adoption of cloud services coupled with the increasing adoption of BYOD.
PORTLAND, PORTLAND, OR, UNITED STATE, January 14, 2022 /EINPresswire.com / -- The APAC cloud IAM market is expected to garner $574 million by 2020, registering a CAGR of 29.3% during the period 2015-2020. Identity and access management (IAM) is a security framework, ensuring secure access to end users across multiple applications such as IT & telecom, BFSI and many others.
Private cloud led the overall Asia-Pacific cloud IAM market by deployment type constituting for around 43.81% share in 2014. However, hybrid cloud is expected to witness the highest CAGR of 33.2%, during the forecast period as it enables the users to manage IAM services in-house as well as on cloud.
By services, user provisioning service is the largest revenue generating segment in Asia-Pacific cloud IAM market, accounting for nearly 42.17% of the total market revenue in 2014. This segment is expected to maintain its dominance throughout the forecast period. Among key industry verticals, IT & telecom was the largest contributor in 2014, accounting for 22.89% share in the overall market revenue. Stringent government regulations and security standards coupled with increasing usage of BYOD, are some of the key factors fostering the adoption of IAM services in IT & telecom sector in Asia-Pacific.
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Major industry players such as - Fujitsu, SailPoint Technologies, Inc., EMC Corporation, CA Technologies, Oracle Corporation, Hewlett-Packard Company, Ping Identity Corporation, Dell, Inc. and Intel Corporation
Companies operating in Asia-Pacific cloud IAM market are adopting various strategies such as acquisition, product launch, expansion, partnership and agreement, in order to strengthen their market presence. For instance, in 2015, OneLogin, a provider of identity and access management for cloud-based applications announced its partnership with Infocom Corporation, a leading system integrator in Japan that provides IT services to a number of enterprise companies operating in Japan. The partnership is expected further to consolidate the cloud business of the two companies in Japan. In 2015, Amazon.com Inc. announced its decision to open a data center in South Korea, with an aim to compete with other cloud IAM providers, such as Microsoft Corp. and Google Inc.
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