Market Synopsis
Market Research Future (MRFR) conducted study on the global identity as a service (IDaaS) market and detailed insights into the effect of COVID pandemic on the market in the report. According to MRFR analysis, the identity as a service (IDaaS) market can rise at 18.4% CAGR across the forecast period. By 2024, the identity as a service (IDaaS) market value can cross USD 10 Bn.
The growing deployment of IDaaS on largely accepted cloud platform can boost the expansion of the IDaaS market across the review period. The increase in the adoption of SaaS-based IAM offerings that allow organizations to use single sign-on (SSO) via OpenID Connect (OIDC) or Security Assertion Markup Language (SAML) for the authentication and access controls to provide secured access to enterprises' SaaS applications can promote the expansion of the world market of IDaaS.
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The growing need to curb on-site infrastructure that can support a wide range of integration options can boost the expansion of the IDaaS market. The rise in the level of interconnectivity as IoT and BYOD culture are trending across different verticals can bolster the expansion of the IDaaS market. Rise in IDaaS vendors can also benefit the global market.
The high utility of DevSecOps practices for the identification and access management in organizations can fuel the expansion of the market growth. The growing concerns of companies regarding data security limit is pressing the need for IDaaS solutions that can promote the expansion of the global identity as a service (IDaaS) market in the years to come. The rise in preference for on-premise access management systems can pose threat to the IDaaS market.
Market Segmentation
The segments study of the global IDaaS market is based on deployment, service, organization size, and vertical.
The service-based, the global IDaaS market segments are access, identity governance administration, and intelligence.
The organization size based, the global IDaaS market segments are large enterprise and small- and medium-sized enterprise (SME).
The deployment based, the global IDaaS market segments are public cloud, private cloud, and hybrid.
The vertical based, the global IDaaS market segments are BFSI, retail and CPG, manufacturing, energy and utilities, transportation, healthcare and life sciences, and government and defense among others.
Regional Analysis
North America IDaaS market is expected to secure the highest global market size in the forecast period. Led by the US, the market in North America can rise exponentially due to the early adoption of DevSecOps that aids in the identification and allows access to management and strict government directives associated with data protection. The increase in cyber threats and high growing demand for potential and powerful authentication solutions on cloud can drive the IDaaS market in North America.
In Asia Pacific, the IDaaS market can expand rapidly in evaluation period. The growing BYOD trend and increase in IoT applications across verticals and increase in the awareness among enterprises regarding security issues can promote the IDaaS market in the Asia Pacific region. APAC is observed to hold high growth prospects, thus the expansion of the IDaaS market in the Asia Pacific region is expected to rise substantially.
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Key Players
MRFR identified some notable players of the global IDaaS market. They are; Okta, Inc. (US), Avatier (US), OneLogin, Inc (US), Fischer Identity (US), Microsoft Corporation, (US), Oracle Corporation (US), Centrify Corporation (US), Ping Identity (US), iWelcome (Netherlands), empowerID (US),VMWare (US), LoginRadius (Canada), IDaptive, LLC. (US), Ubisecure, Inc. (Finland), Sailpoint (US), Optimal IdM(US), Bitium, Inc. (US), and others. These players are recognized by origin, regional presence, recent key innovations, industry expertise, and product diversification.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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