Identity-as-a-Service market size worth $ 19.40 billion, globally, by 2028 at 22.0% CAGR: Verified Market Research®
JERSEY CITY, NJ, September 29, 2021 / PRNewswire / – Verified Market Research recently published a report, “Identity as a Service Marketplace“By component (procurement, directory services, password management), by end user (telecoms and IT, retail and consumer goods, public sector) and by geography. According to verified market research, size of the global identity as a service market has been assessed at USD 4.008 billion in 2020 and should reach $ 19.40 billion by 2028, with a CAGR of 22.0% from 2021 to 2028.
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Browse the table of contents in depth to “Identity as a Service Marketplace“
202 – Slips
126 – Tables
37 – Figures
Global Identity as a Service Market Overview
Identity as a Service (IDaaS) refers to the integration of solutions that provide cloud-based solutions for identity and access management. IDaaS is used in public, private, and hybrid networks and is used in almost any industry that requires data monitoring involving sensitive information, verifies user identities, and understands and improves user behaviors.
Adoption of IoT is on the rise with the development of IoT and increasing use cases and benefits with integration with existing technology. According to Forbes, security, uncertain ROI, and integration with existing technology are the main barriers to IoT adoption. Today, companies invest heavily in security, which requires the use of IDaaS integration with existing systems. The rise of cloud-based applications is on the rise due to the flexibility and reduced hardware investments associated with it.
For this reason, there is a growing need for cloud-based authentication and identity management to ensure proper and efficient control of usage. IoT requires giving access to software applications, files and resources at the right time. Often, these devices are used on-premises, which requires cloud-based integration. Public network clouds are found to be more vulnerable than private clouds due to increased cyber risks and reduced protection measures.
Key developments in Identity as a Service Marketplace
- In May 2018, Avaya publicly shook hands with Post Quantum by including the Identity as a Service Market capability in its product portfolio.
- In July 2019, Google shook hands with Atos to expand its strategic partnership. According to the partnership, the two companies would offer clients identity management, access management, governance and administration across a plethora of domains.
- In June 2019, Ping Identity has partnered with TIBCO Software, a recognized leader in integration, application program interface (API) management, and analytics. The partnership aimed to deploy cutting edge API cybersecurity for end users.
The main players in the market are iWelcome, JumpCloud, Okta, Inc., OneLogin Inc, CA Technologies, Centrify Corporation, ILANTUS Technologies, Ping Identity, Salesforce.com, Exostar, Oracle Corporation.
Verified market research segmented the global Identity as a Service market on the basis of component, end user, and geography.
- Identity as a Service Market, by Component
- Directory services
- Password management
- Single sign-on
- Advanced authentication
- Identity as a Service Market, by End User
- Banking, Financial Services and Insurance (BFSI)
- Telecom and IT
- Retail trade and consumer goods
- Public sector
- Identity as a Service Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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