Global Identity as a Service Market is valued approximately at USD 6.2 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 27.5% over the forecast period 2024-2032. IDaaS encompasses cloud-based identity and access management (IAM) services provided via subscription. It offers significant benefits such as automating various user account-related operations, reducing company risk, and saving time and money by standardizing crucial identity, authentication, and permission management components. The market is witnessing robust growth, primarily driven by the increasing incidence of cybersecurity breaches and identity-related fraud. The COVID-19 pandemic has accelerated the shift of routine activities and businesses to online platforms, leading to a heightened reliance on digital media and communication networks. Cybercriminals have exploited this shift, causing widespread damage and prompting the adoption of IDaaS solutions. The integration of cloud computing and connected technologies further fuels market expansion.
However, the market faces challenges such as a lack of awareness regarding IAM solutions, especially among small and medium-sized enterprises. Additionally, the shortage of skilled professionals and the complexity of advanced threats pose significant obstacles to market growth. Compliance issues and the fluctuating regulatory landscape also hinder the broader adoption of IDaaS solutions. Despite these challenges, the growing popularity of cloud-based IAM solutions and the rising adoption of emerging technologies such as AI, biometrics, and others present lucrative opportunities for market growth. The integration of AI and machine learning technologies enhances the efficiency of IDaaS solutions, driving their adoption across various sectors.
The key regions considered for the global Identity as a Service Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Identity as a Service Market in terms of revenue. The market growth in the region is being attributed to factors including widespread adoption of advanced technologies and robust infrastructure. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period. The region's increasing demand for digitalization and high internet penetration are anticipated to provide significant growth opportunities.
Major market players included in this report are:
IBM Corporation
Microsoft Corporation
Oracle Corporation
Ping Identity Corporation
Okta, Inc.
SailPoint Technologies Holdings, Inc.
OneLogin, Inc.
Centrify Corporation
Broadcom Inc.
Gemalto NV
Idaptive, LLC
Auth0, Inc.
SecureAuth Corporation
HID Global Corporation
Avatier Corporation
The detailed segments and sub-segment of the market are explained below:
By Component:
Provisioning
Single-Sign-On (SSO)
Multi-Factor Authentication (MFA)
Audit, Compliance and Governance
Directory Services
Password Management
By Deployment Type:
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size:
Large Enterprise
Small and Medium-sized Enterprise
By Industry Vertical:
BFSI
IT and Telecom
Manufacturing
Government and Public Sector
Energy and Utilities
Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
