The IoT IAM market size is expected to grow from USD 5.6 billion in 2022 to USD 14.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period. The extended growth of IoT across all the industry verticals faces critical challenges of managing identities and governing access to vital business processes and information. IoT IAM vendors are enhancing their solutions portfolio to help their clients confront these challenges and benefit the most from their digital ecosystems.
The major vendors covered in the IoT IAM market include AWS (US), Thales (France), IBM (US), Microsoft (US), Broadcom (US), Open Text (Canada), Cisco Systems (US), Ericsson (Sweden), Google (US), Micro Focus (UK), Ping Identity (US), Oracle (US), Entrust (US), HID Global (US), DigiCert (US), Okta (US), SailPoint (US), Dell EMC (US), Optiv Security (US), CyberArk (US), ForgeRock (US), One Identity (US), Verimatrix (France), KaaIoT (US), Identity Fusion (US), Keyfactor (US), GlobalSign (US), Blue Ridge (US), Sectigo (US), and FusionAuth (US). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches to expand their presence in the IoT IAM market.
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Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon. It offers on-demand cloud computing platforms and APIs to people, businesses, and governments. Amazon Web Services is one of the leading cloud providers in the marketplace. It is an online platform that provides cost-effective and scalable cloud computing solutions. Amazon offers services for cloud applications, such as compute service, storage, database, developer tools, security tools, networking, and content delivery. Currently, AWS provides a highly reliable and low-cost infrastructure platform on the cloud. AWS offers Internet of Things (IoT) services and solutions to connect and manage billions of devices. It collects, stores, and analyzes IoT data for industrial, consumer, commercial, and automotive workloads. AWS (IoT) services include device software, which connects devices and operates them at the edge.
Thales Group is a French multinational company that designs and builds electrical systems. The French government partially owns the company and has operations in more than 56 countries. Thales is a global leader in advanced technologies, investing in digital and "deep tech" innovations – connectivity, big data, artificial intelligence, cybersecurity, and quantum technologies Thales entered the digital security business after the acquisition of Gemalto an international security company. The company is a key player in the aerospace and defense industry. It develops and delivers a range of airborne, naval, and land systems for commercial aviation, defense, and homeland security sectors. The company operates through aerospace, defense and security, and digital ID and security. Thales’s IoT security solutions provide data encryption for IoT data and management of encryption keys for IoT devices. These solutions cater four major application areas, including smart grid security, IoT connected car, IoT secure manufacturing, and IoT healthcare.
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