Identity and Management of Things in the IoT a US$21.5 Billion Opportunity
Oyster Bay, New York - 05 Feb 2018
IoT Platform services along with security, cryptography, digital certificate management and data exchange services are propelling IoT Identity and Management revenues toward US$21.5 billion by 2022. ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies, predicts that IDoT (Identity of Things) services are expected to grow significantly over the next five years with most of the revenues being driven primarily by industrial, manufacturing, and automotive market verticals.
“Through ‘smarter gateways’, cloud services, and application programming interface (API)-focused solutions, thing identity and management services are steadily finding their way in a wider spectrum of IoT verticals,” comments Dimitrios Pavlakis, Industry Analyst at ABI Research. Although certain verticals are still lagging in terms of security, IoT vendors are finally starting to invest more on encryption and device certificate management. Aftermarket telematics, fleet management, OEM telematics, metering, home security, and automation are among the most important verticals absorbing more than 60% of the total revenues worldwide.
“This brings us one step closer to the realization of IAM 2.0 (Identity and Access Management)”, continues Pavlakis. “We are entering a transformational period where device IDs, system IDs, and user IDs are forced to merge under the hyper-connected IoT paradigms, effectively altering the way IDoT will be perceived from now on.” To that end, open IoT standards and frameworks like OCF (Open Connectivity Foundation), OneM2m and DeviceHive are attempting to create OS/RTOS/Vendor-agnostic solutions to reduce friction for more interconnected and secure ecosystems.
While some vendors choose to offer wide-ranging IoT solutions, most of them are seeing the merit of specialization in IDoT: enterprise and industrial (e.g., Microsoft Azure), connected agriculture (e.g., Bosch), advanced analytics and machine learning (e.g., SAP), cryptography and device management (e.g., Rambus), as well as energy and manufacturing (e.g., GE Predix). Given the recent PKI (Public Key Infrastructure) success stories in securing IoT devices, this specialization trend extends to most of the Certification Authorities (CAs) too: smart city, transportation and healthcare (e.g., DigiCert), cloud service providers (e.g., GlobalSign), banking and finance (e.g., IdenTrust), and enterprise and consumer (e.g., Comodo).
These findings are from ABI Research’s Thing Identity and Management Services report. This report is part of the company’s M2M, IoT & IoE research service, which includes research, data, and analyst insights.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI’s own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about ABI Research’s forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
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