HOME Research Insight The major players also launched new products and offerings to strengthen their product portfolio and expand their offerings to newer clients in the IoT IAM Market



The major players also launched new products and offerings to strengthen their product portfolio and expand their offerings to newer clients in the IoT IAM Market


Internet of Things (IoT) Identity Access Management (IAM) refers to managing the identities and relationships between employees, users, and connected devices. IoT IAM platforms are used to manage millions of identities and policies that are associated with devices within enterprises. The platform includes a set of security technologies, such as provisioning, digital certification, authentication, directory services, and password management, and other associated services. MarketsandMarkets forecasts that the IoT IAM market size will grow from USD 1.10 Billion in 2016 to USD 4.97 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 35.2%. The sophistication level in the cyber-attacks is increasing and creating demands for more comprehensive IAM solutions that would protect IoT infrastructure from advanced cyber threats.

The key players in the IoT IAM market include  Amazon Web Services (AWS) (U.S.), CA Technologies  (U.S.), LogMeIn, Inc. (U.S.),  Gemalto NV (Netherlands), Micro Focus International Plc (U.K.), Covisint Corporation (U.S.), ForgeRock, Inc. (U.S.), Ping Identity (U.S.), Certified Security Solutions (CSS) (U.S.), and GlobalSign (U.S.). These players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, and new product developments to achieve growth in the global IoT IAM market.

The IoT IAM market witnessed a lot of partnerships, agreements, and collaborations by key players from 2014 to 2016. AWS teamed up with Microchip Technology to develop an integrated solution that helped clients interface their IoT devices with AWS’s mutual authentication IoT Security model. CA Technologies partnered with ImageWare Systems, Inc. to integrate ImageWare’s GoVerifyID platform with CA Technologies’ Single Sign-On (SSO) and identity management products, to provide biometric user login capabilities to CA customers. Gemalto partnered with Alibaba Group to secure China’s IoT market by integrating and developing advanced solutions.

The key players also adopted the strategy of mergers and acquisitions to increase their geographic presence and expand their product portfolio to untapped markets. LogMeIn acquired LastPass, a provider of password management solutions, to strengthen LogMeIns identity management portfolio. Micro Focus acquired Attachmate Group of Companies, including Attachmate, NetIQ, Novell, and SUSE.  This acquisition helped Micro Focus to expand its product and service portfolio and the customer base. Moreover, Ping Identity acquired UnboundID Corporation to strengthen its existing IAM portfolio.

The major players also launched new products and offerings to strengthen their product portfolio and expand their offerings to newer clients. In 2016, CSS launched Public Key Infrastructure (PKI) Operations and Digital Certificate Management Platform to deliver end-to-end management of PKI operations from a single console. In 2015, LogMeIn launched the next generation of its Xively IoT solution to help organizations quickly develop and offer more secure internet connected products to the market. Furthermore, AWS launched AWS IoT, a new platform that helped devices, such as cars, light bulbs, and sensor grids to connect with AWS services and enabled organizations to store and analyze the huge data produced by connected devices.

IoT IAM vendors are continuously adding innovation to their products and services to protect IoT applications, networks, connected devices from real-time behavioral anomalies & advanced threats. Furthermore, IoT IAM solutions are being increasingly adopted in various verticals, such as Banking, Financial Services, and Insurance (BFSI); automotive; telecom & IT;  retail & Consumer Packaged Goods (CPG); public sector & utilities;  healthcare; energy, oil,  & gas; and manufacturing, which have led to the growth of the market, across the globe.

Related Reports:

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

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