According to a research report ?IoT IAM Market by Component (Solutions and Services), Security Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Deployment Mode, Organization Size, Vertical and Region ? Global Forecast to 2027? published by MarketsandMarkets, the global IoT IAM market size is expected to grow from USD 5.6 billion in 2022 to USD 14.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period. The global IoT IAM market is gaining traction due to increase in frequency of cybersecurity breaches and cyberattacks.