Internet Of Things Identity Access Management Mkt Set To Grow

The IoT Identity Access Management (IAM) market is expected to explode in the coming years, with Research and Markets projecting the market size to go from $1.1 billion in 2016 to $4.97 billion by 2021. That represents a CAGR of 35.2 percent from 2016 to 2021.

In a press release highlighting the new research, Research and Markets said the IoT IAM market is being driven in part by the growing number of companies that are adopting Bring Your Own Device policies. That, in turn, is resulting in an increase in cybersecurity breaches and attacks at the same time that there is huge growth in IoT. The market growth could be hurt if there isn’t an increase in security, expertise and awareness. The research group said the cost associated with the IoT IAM market could also restrict growth.

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