With its adequate IT and business infrastructure and the presence of many global financial institutions and large companies, North America (USA, Canada) is and will remain at the core of the groundbreaking innovations.
The region
is the early adopter of the cloud identity and access management (IAM) systems
to combat increased number of
cyber-attacks and rising identity theft in government infrastructure and other
critical infrastructures.
According to Technavio’s latest report, the global cloud identity and
access management (IAM) market is set to reach over USD 3 billion by the end of 2020, growing at a
tremendous CAGR of close to 25%.
North America as the most
prominent revenue-contributing region in the cloud IAM market accounted for a
market share of close to 45%, in 2015, followed by Europe, APAC, Latin America,
and MEA.
The availability of adequate
IT and business infrastructure and the presence of many global financial
institutions and large companies are some of the major factors contributing to
the growth of the market in North America.
In Europe, the second largest
market for cloud IAM market, Finland, Sweden, and Denmark were major adopters
of cloud computing, mobility, big data, and the Internet of Things (IoT) in
Europe.
The cloud IAM market in APAC
was valued at USD 169.6 million in 2015 and is likely to reach over USD 546
million by 2020.