Global Identity as a Service (IDaaS) Market – Industry Trends and Forecast to 2029

Global Identity as a Service (IDaaS) Market Analysis and Size

Businesses are integrating IoT closely with integral business operations, and it has escalated the need for a fresh approach towards their identity management processes. In the past few years, the advent of next-generation technologies, such as cloud computing and Artificial Intelligence (AI) has been highly beneficial for numerous businesses.

• Global Identity as a Service (IDaaS) Market was valued at USD 3.71 billion in 2021 and is expected to reach USD 17.96 billion by 2029, registering a CAGR of 21.80% during the forecast period of 2022-2029. “Government” accounts for the largest end user sector owing to the high deployment of web and mobile applications to serve their citizens.

Global Identity as a Service (IDaaS) Market Definition

Identification as a service (IDaaS) is a tool for meeting business expectations on the cloud by providing features for IAM (identity and access management). It also includes a user interface, federated identity, API security, and identity analytics that can detect and react to threats. They're commonly utilised in authentication/identification, document verification, and screening applications.

Report Scope and Market Segmentation

Identity as a Service (IDaaS) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

• Security Concerns

The increase in the security concerns both in the public and private sector acts as one of the major factors driving the growth of identity as a service (IDaaS) market. The high demand for cloud-based security solutions and services assists in the market growth.

• Adoption of IoT-Based Solutions

The increase in the adoption of IoT-based solutions across a wide range of industries, accelerate the market growth. Businesses have become vulnerable to threats, including fraud and identity theft. A rise in the number of business organizations, including banks and financial institutes, and governing bodies helps in the expansion of the market.

• Digital Payments

The rise in demand for digital payments across the globe further influence the market. Numerous government bodies and banking organizations are adopting digital payment methods to decrease operational costs.

Opportunities

Furthermore, addition of Artificial Intelligence (AI) and Machine Learning (ML) technologies to improve identity management are expected to obstruct market growth. Also, increase in the investments will further expand the market.

Restraints/Challenges Global Identity as a Service (IDaaS) Market

On the other hand, budgetary limitations to inhibit the adoption of idaas solutions and organizations’ hesitations about cloud-based security adoption are expected to obstruct market growth. Also, rise in IT infrastructure complexities is projected to challenge the identity as a service (IDaaS) market in the forecast period of 2022-2029.

This identity as a service (IDaaS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on identity as a service (IDaaS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Identity as a Service (IDaaS) Market

The COVID-19 has impacted identity as a service (IDaaS) market. The limited investment costs and lack of employees hampered sales and production of identity as a service (IDaaS) technology. However, government and market key players adopted new safety measures for developing the practices. The advancements in the technology escalated the sales rate of the identity as a service (IDaaS) industry as it targeted the right audience.

Recent Developments

• Google partnered with Atos in July’2019 in order to expand their strategic partnership. Both players provide clients with access management, administration, identity management and administration across environments.
• IBM acquired Red Hat in July’2019 that helps IBM in expanding its identity management capabilities with the help of Red Hat’s identity management solutions, such as Identity Management Active Directory and Red Hat Identity Manager.

Global Identity as a Service (IDaaS) Market Scope and Market Size

The identity as a service (IDaaS) market is segmented on the basis of deployment type, service type, enterprise size, access type, application and end use industry. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deployment Type

• Public
• Private
• Hybrid

On the basis of deployment type, the identity as a service (IDaaS) market has been segmented into public, private and hybrid.

Service Type

• On-Site
• In-House

On the basis of service type, the identity as a service (IDaaS) market has been segmented into on-site and in-house.

Access Type

• Single Sign-On
• Multi-Factor Authentication
• Compliance Management
• Directory Services
• Provisioning
• Password Management
• Others

On the basis of access type, the identity as a service (IDaaS) market has been segmented into single sign-on, multi-factor authentication, compliance management, directory services, provisioning, password management, and others.

Application

• Document Verification
• Authentication/Identification
• Screening

On the basis of application, the identity as a service (IDaaS) market has been segmented into document verification, authentication/identification, and screening.

End User Industry

• Government
• Retail and Consumer Electronics
• Transportation and Logistics
• Media and Entertainment
• IT and Telecommunication
• BFSI
• Energy and Utility
• Healthcare
• Automotive
• Others

On the basis of end user industry, the identity as a service (IDaaS) market has been segmented into government, retail and consumer electronics, transportation and logistics, media and entertainment, IT and telecommunication, BFSI, energy and utility, healthcare, automotive, and others.

Identity as a Service (IDaaS) Market Regional Analysis/Insights

The identity as a service (IDaaS) market is analysed and market size insights and trends are provided by country, deployment type, service type, enterprise size, access type, application and end use industry as referenced above.

The countries covered in the identity as a service (IDaaS) market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

North America dominates the identity as a service (IDaaS) market due to the rise in the incidents of security threats and data breaches. Furthermore, the increasing number of cyberattacks to access confidential consumer data and growing adoption of cloud applications will further boost the growth of the identity as a service (IDaaS) market in the region during the forecast period.

Asia-Pacific is projected to observe significant amount of growth in the identity as a service (IDaaS) market due to the rise in the adoption of mobile, cloud, and new generation technologies. Moreover, the growing demand to secure applications and authenticate users and to maintain control over business-critical information to minimize the risk related to the data breach is further anticipated to propel the growth of the identity as a service (IDaaS) market in the region in the coming years.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Identity as a Service (IDaaS) Market Share Analysis

The identity as a service (IDaaS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to identity as a service (IDaaS) market.

Some of the major players operating in the identity as a service (IDaaS) market are:

• CA Technologies (US)
• Centrify (US)
• Ilantus Technologies Private Limited (India)
• Exostar (US)
• iWelcome (Netherlands)
• JumpCloud, Inc. (US)
• Okta, Inc. (US)
• OneLogin, Inc. (US)
• Oracle Corporation (US)
• Ping Identity Corporation (US)
• Microsoft Corporation (US)
• Connectis (US)
• Gemalto (Netherlands)
• Capgemini (France)
• One Identity LLC (US)

Research Methodology : Global Identity as a Service (IDaaS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-identity-as-a-service-idaas-market

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