Cloud software market to grow almost 36% by 2020

Cloud software market to grow almost 36% by 2020

The cloud software market, specifically Identity and access management software, will grow by 35.76 per cent CAGR in the next five years, according to research.

Research and Markets said the shift was due to the availability of subscription-based services that are making it easier for governmental organisations and commercial businesses to sign up and see the benefits.

It explained the key drivers behind the high levels of growth were down to the benefits such software offers. These include better collaboration between teams and improved network capabilities without locking the business into expensive contracts as was previously the case with software purchases.

In addition, cloud-native architecture is enabling identity and access management software to operate in a more open environment, making it more accessible to entire teams in an organisation rather than just those administering IT services.

“The cloud has created new management challenges because enterprises must now extend the scope of their IAM to manage users and their access to cloud applications in addition to their on-premise applications,” the report said.

“The growing acceptance of cloud-based management tools has opened up a world of possibilities for implementing IAM-as-a-service, a new approach that can increase business agility, speed time to value, and reduce operating costs.”

However, cloud-based identity and access management software also has some barriers to overcome before it can grow at an even faster rate. Research and Markets’ report explained compliance and regulations, security, and performance issues may all be responsible for holding back adoption.

This article was written by clareh from Cloud Pro and was legally licensed through the NewsCred publisher network.