As Originally Published on TelecomNewsroom
A new report by Allied Market Research titled, “World Cloud Identity and Access Management (IAM) Market – Opportunities and Forecasts, 2014 – 2020” projects that the global cloud IAM market would garner revenue of $2.8 billion by 2020, registering a CAGR of 26.2% during the forecast period 2015 – 2020. Multi factor authentication service is expected to witness fastest growth, at a CAGR of 30.5% from 2015 to 2020. North America was the highest revenue generating region in 2014 for cloud IAM, followed by Europe and Asia-Pacific.
Identity and access management is a business security framework that manages digital identities, both inside and outside an enterprise. Varied technological environments, increasing cyber-attacks, strict regulatory compliances, and increasing digital identities across organizations are propelling the need of IAM services for information security. Integration of IAM with cloud is gaining popularity owing to its low cost and enhanced security.
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