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The emergence of the Internet has given birth to a number of cloud-based technologies and services to cater to a wide audience. There has been a significant rise in the number of users and enterprises who are adapting to the radical changes cloud technologies have brought about in enterprise handling and management.

The colossal volumes of data and information held by any business organisation run the sheer risk of intrusion from malicious insiders, network threats, hacking attacks, insecure application programming interfaces (API) and unauthorised user access. Individuals and enterprises are not hesitating to rope in the best service providers to protect their cloud networks from such security threats.

The market is moving ahead with the constant need for a robust governance and network security measures driving its progress. Experts at Allied Market Research have observed a tremendous growth in the cloud security services market over the years. They predict a strong market for the cloud identity and access management (IAM) segment in particular. Here we focus on the cloud IAM segment in particular, how it has gained popularity with different users. The competitive landscape of the industry has also been covered.

Understanding the cloud IAM framework

The basic framework for cloud IAM lies within the management of electronic identities for the different processes as a part of the business network. It includes technology and the cloud networking to support the concept of identity management. Using an automated process, IAM technology enables initiating, capturing, recording and managing of user identities. The access privileges are granted after quick and careful contemplation of organisation policies. All the individuals and services as a part of cloud IAM systems are properly authenticated, authorised and audited.

The cloud IAM software of an organisation allows IT administrators to create user identities and organise them into groups. The identity and access management software then assigns permissions to access resources and services. This is done on a web portal, managed through a browser window. The concept of IAM is extremely instrumental for every business organisation to ensure a standard and credible IT infrastructure.

Why every business organisation needs an IAM expertise

If an organisation has a robust IT infrastructure in place, then half the battle against network threats is already won. The presence of a cloud security software which is backed by a tough identity and access management is a sign of how serious an enterprise takes it security. What is more important is the need to have a firm grip on IAM processes which adhere to regulatory compliance policies. Intrusion from malware, malicious insiders, hackers, spoofing, and fake identity holders can be ensured by having an IT governance structure in place that enables multi-factor authentication and careful assigning of access permissions.

A well-maintained IAM infrastructure speaks volumes about how an organisation’s reporting and auditing system is. The implementation of a cloud IAM framework in a business’s working doesn’t necessarily make it invincible, but it allows for timely addressing of access permissions related issues, and dealing with unauthorised users. Apart from keeping a close eye on the flow of information between the different end-users and services on the cloud, the IAM technology also ensures an enterprise adds to its overall security policy. Moreover, this also forms a part of a larger cost-cutting measure by enterprises, as the entire process of security and handling credentials is managed by one centralised software functioning on multiple levels.

Big names in the cloud IAM game

The key competitors in the cloud security market have different customised products on offer, which is tailor-made for particular user requirements. The established brands are looking to expand their product portfolios to gain a bigger stronghold on the industry. IT giants, such as IBM, Oracle, Cisco Systems, and CA Technologies offer an award-winning range of solutions that promise to safeguard valuable data and applications on the cloud as well as mobiles. The products they offer are available at a competitive rate in the market, and aggressive marketing strategies drive the revenues for these companies.

However, all eyes on the IAM market are on the lookout for the new promising startups, such as Salesforce, Okta, OneLogin, Centrify, and Ping Identity. These new companies provide identity and access management solutions for new businesses looking for efficient software on a tight budget. Moreover, their products are also targeted at highly regulated businesses including the healthcare and BFSI sector. This is making the new companies stand apart and emerge as promising new entrants in the market.

Synergies promise a more dynamic market

The market for cloud IAM has so far proven to be very dynamic in the recent decades. The industry is set to grow at a rapid pace, with the development of cloud networks and IT infrastructures. The new startups offering identity solutions are giving a serious competition to big names. The larger IT brands are not shying away from joining forces with the fresh outlook offered by new startup firms.

For instance, IBM recently acquired Lighthouse Security Group to expand the scope of its operations. Even Dell joined with EMC to shift its focus from hardware to cloud-based software. Accenture was also not far behind, with its latest acquisition of an Australian firm, Redcore. All these developments on the competitive front are a testimony to the magnanimous growth of the cloud security services market.