Identity as a Service Market Size And Forecast
The Global Identity as a Service Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Identity as a Service Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Identity as a Service Market was valued at USD 4.09 Billion in 2019 and is projected to reach USD 17.92 Billion by 2027, growing at a CAGR of 20.3% from 2020 to 2027.
What is Identity as a Service?
Identity as a service (IDaaS) refers to integration of solutions that provide cloud-based solution for identity management and access management. IDaaS also enables collecting intelligence data like logging events and data to show which information was accessed when and by whom. IDaaS is employed in public, private and hybrid networks and are employed in almost all industries which require monitoring of data which involves sensitive information, verify user’s identity, understand and improve user behaviors.
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Global Identity as a Service Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
IoT adoption is on the rise with the development in IoT and increasing use cases and benefits with the integration with existing technology. According to Forbes, security, uncertain ROI and integration with existing technology are the biggest barriers to adoption of IoT. Enterprises today are investing hugely in security which calls for the use of IDaaS integration with the existing systems. The rise of cloud-based applications is on the rise due to flexibility and reduced hardware investment attached to it. Due to this there is a rising need for cloud-based authentication and identity management to ensure proper and effective control over the usage. IoT requires giving access to software applications, files, resources at the right time. Often these devices are employed on site which requires cloud-based integration. Public network cloud prove to be more vulnerable than private clouds due the increased cyber risks and reduced protection measures. The increase in the number of cyber-attacks, social engineering, phishing activities and other cyber malpractices makes it paramount to have robust data management and identity management tools which drives the demand for IDaaS. Moreover, public sector industries are increasingly adoption IDaaS as they contain sensitive information and are the prominent target for cyber attackers. BFSI sector is also increasingly adopting IDaaS in order to secure and protect privileged customer data and information. These factors propel the demand for identity as a service (IDaaS) market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Identity as a Service Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Identity as a Service Market Competitive Landscape
The “Global Identity as a Service Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as iWelcome, JumpCloud, Okta, Inc., OneLogin Inc, CA Technologies, Centrify Corporation, ILANTUS Technologies, Ping Identity, Salesforce.com, Exostar, Oracle Corporation. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Identity as a Service Market, By Component
• Provisioning
• Directory services
• Password management
• Single sign-on
• Advanced authentication
• Others
Identity as a Service Market, By End User
• Banking, Financial Services, and Insurance (BFSI)
• Telecom and IT
• Retail and consumer goods
• Public sector
• Others
Identity as a Service Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
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