Identity as a Service (IDaaS) Market to Grow Rapidly;

Identity as a Service (IDaaS) Market to Grow Rapidly;

Pune, India, March 09, 2022 (GLOBE NEWSWIRE) — The international identity as a service (IDaaS) market dimension was USD 3.99 billion in 2021. The market is estimated to develop from USD 4.92 billion in 2022 to USD 23.88 billion in 2029, exhibiting a CAGR of 25.3% in the course of the forecast interval. Strong cloud adoption, digitization, and rising breaches throughout a number of industries are anticipated to gas market development. Fortune Business Insights™ mentions this info in its report titled “Identity as a Service Market, 2022-2029.”

Identity as a service is cloud-based entry administration and identification subscription mannequin defending organizations from cyber threats. Strong adoption of cloud companies and speedy digitization globally is anticipated to enhance its adoption. The emergence of a number of companies and the rising adoption of digitization could enhance its gross sales. Further, rising knowledge breaches, hacks, and frauds throughout a number of organizations necessitate the demand for efficient knowledge safety software program. These components could propel trade development within the coming years.

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List of Key Companies Profiled within the Market Report:  

  • Ping Identity Corporation
  • OneLogin Inc.
  • Atos SE
  • Microsoft Corporation
  • Oracle Corporation
  • Salesforce Inc.
  • Google LLC
  • CA Technologies, Inc.
  • SailPoint Technologies Inc.
  • IBM Corporation

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 26.3%
2029 Value Projection USD 23.88 Billion
Base Year 2021
Market Size in 2021 USD 3.99 Billion
Historical Data for 2018 to 2020
No. of Pages 150
Segments coated Solution, Deployment, End User and Regional
Growth Drivers Manufacturers Launch Novel Solutions to Improve Solutions
Solution, Deployment, Enterprise Size, End User, and Region are Studied
Extensive Adoption of Cloud-Based Technology to Foster Industry Progress in North America

COVID-19 Impact:

Rapid Adoption of Digital Services to Facilitate Market Growth

This market is anticipated to be positively impacted in the course of the COVID-19 pandemic owing to the speedy adoption of digital companies. Small and large companies shifted to digital platforms due to the pandemic. This issue elevated the adoption of safety companies that safeguard organizational knowledge and stop leaks. For instance, the National Health Service of England adopted digital IDs to study healthcare professionals within the pandemic. Further, the speedy improvement of e-commerce platforms is anticipated to gas trade development. These components could propel market development in the course of the pandemic.

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Report Coverage:

The report supplies a detailed evaluation of the highest segments and the most recent traits available in the market. It comprehensively discusses the driving and restraining components and the influence of COVID-19 in the marketplace. Additionally, it examines the regional developments and the methods undertaken by the market’s key gamers.

Competitive Landscape:

Manufacturers Launch Novel Solutions to Improve Solutions

The outstanding firms working available in the market announce novel options to enhance their identification as a service providing and enhance their model picture. For instance, Auth0 introduced its identification platform fused with non-public cloud-based deployment by partnering with Microsoft Azure in December 2021. This improvement could allow the corporate to supply efficient and higher options and concurrently enhance its model picture globally. Further, adopting analysis and improvement, acquisitions, expansions, and merger methods could enable firms to enhance their market place globally.

Industry Development

  • October 2021: Equifax Inc. introduced its first digital identification service platform by collaborating with Bonifii. The new answer makes use of cryptography to present a superb consumer expertise and improved safety in opposition to hacking and fraud.

Drivers and Restraints:

The emergence of Several Regulatory Compliances for User Data Protection to Drive Growth

Several international locations globally implement stringent rules for the utilization of customers’ knowledge. As per the Act on Protection of Personal Information, California Consumer Privacy Act, Personal Information Protection and Electronic Documents Act, and the General Data Protection Regulation (GDPR), the adoption of non-public knowledge is allowed if complied with the rules. These rules mandate the moral adoption of information assortment to guarantee customers’ privateness. Further, identification service adoption from a number of companies for safe operations could drive the identification as a service (IDaaS) market development.

However, technical errors and downtime points could hinder the market’s progress.

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Solution, Deployment, Enterprise Size, End User, and Region are Studied

By answer, the market is segmented into single sign-on (SSO), multi-factor authentication (MFA), provisioning, privateness administration, password administration, superior authorization, and others. As per deployment, it’s trifurcated into public cloud, non-public cloud, and hybrid cloud. On the premise of enterprise dimension, it’s bifurcated into SMEs and huge enterprises. Based on finish consumer, it’s categorized into IT & telecom, BFSI, retail, healthcare, authorities, training, and others. Regionally, it’s clubbed into North America, Asia Pacific, South America, Europe, and the Middle East & Africa.

Regional Insights:

Extensive Adoption of Cloud-Based Technology to Foster Industry Progress in North America

North America is anticipated to dominate the identification as a service (IDaaS) market share due to intensive adoption of cloud-based know-how. The market in North America stood at USD 1.44 billion in 2021 and is anticipated to acquire a enormous portion of the market share within the coming years. Further, rising demand for consumer identification options and rising adoption of efficient companies are anticipated to gas identification as a service sale. These components could propel market improvement.

Asia Pacific is anticipated to witness a important incline due of the shift towards digitalization. Further, the shift of workers, purchasers, and customers towards digital platforms is anticipated to nurture market improvement. In addition, the rising adoption of digital cost programs and the United Payment Interface is anticipated to bolster market improvement.

In Europe, the shift of firms to digital platforms is anticipated to reinforce identification as a service trade improvement. According to Accenture Europe Cloud Continuum, in 2020, practically 35% of the workload in Europe is carried out on cloud companies. This issue could incite remunerative trade development.

Major Table of content material:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Global Identity as a Service (IDaaS) Key Players Market Share Insights and Analysis, 2021
  • Global Identity as a Service Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Solution (Value)
      • Single Sign-on (SSO)
      • Multi-factor Authentication (MFA)
      • Provisioning
      • Privacy Management
      • Password Management
      • Advanced Authentication
      • Others (Directory Services, Access Security, and many others.)
    • By Deployment (Value)
      • Public Cloud
      • Private Cloud
      • Hybrid Cloud
    • By Enterprise Size (Value)
      • Small and Medium Enterprises (SMEs)
      • Large Enterprises
    • By End User (Value)
      • IT & Telecom
      • BFSI
      • Retail
      • Healthcare
      • Government
      • Education
    • Others (Automotive, Manufacturing, and many others.)
    • By Region (USD)
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia Pacific

TOC Continued…!

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