Identity as a service (IDaaS) protects organizations from cyber threats by a cloud-based access management and identity subscription model. Its adoption is anticipated to be accelerated by the widespread usage of cloud services and global digitization. IDaaS market revenue is expected to increase, due to the increasing number of start-ups and digitization.
Furthermore, the demand for efficient data protection software is driven by the increase in data breaches, hacks, and fraud across numerous enterprises. These elements are projected to boost industry expansion in the upcoming years. It is critical to adopt strong data management due to the increase in phishing activities, social engineering, cyberattacks, and other cyber malpractices. In addition, it identifies the management tools that fuel the demand for IDaaS. In addition, the development of real and augmented artificial intelligence (AI) are all key driving factors for the market's growth. Additionally, improved automation, personalization, easy information retrieval, data usability, and knowledge discovery are some of the additional drivers to fuel the market growth.
Growing emphasis on remote work environments across regions is one of the major driving factors for the identity as a service market. With a substantial portion of the global workforce operating in non-traditional office environments, organizations are faced with heightened cybersecurity risks. The presence of remote employees who gain access to corporate networks and sensitive information from different locations and devices leads to vulnerabilities that malicious individuals exploit. Thus, there is a growing demand for real-time identification, monitoring, and response capabilities provided by identity as a service solutions. These solutions enable organizations to safeguard remote access points, detect and mitigate threats aimed at remote workers, and ensure secure connectivity, making them essential in the current landscape of remote work.
The global identity as a service market is segmented on the basis of component, enterprise size, deployment type, industry vertical, and region. On the basis of component, it is segregated into provisioning, single-sign-on, advanced authentication, audit, compliance and governance, directory services, and password management. On the basis of enterprise size, it is segregated into large enterprises and SMEs. On the basis of deployment type, it is segregated into public cloud, private cloud, and hybrid cloud.
On the basis of industry vertical, it is segregated into BFSI, IT and telecom, energy and utilities, government, manufacturing, healthcare, retail and consumer goods, and others. On the basis of region, it is divided into North America, Europe, Asia-Pacific, and LAMEA.
The report highlights numerous factors that influence the growth of the global identity as a service market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry. The identity as a service market is dominated by market players such as CyberArk, Google LLC, IBM Corporation, Microsoft Corporation, Okta, OneLogin, Inc., Oracle Corporation, JumpCloud, Inc., SailPoint Technologies, and Thales. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Furthermore, the demand for efficient data protection software is driven by the increase in data breaches, hacks, and fraud across numerous enterprises. These elements are projected to boost industry expansion in the upcoming years. It is critical to adopt strong data management due to the increase in phishing activities, social engineering, cyberattacks, and other cyber malpractices. In addition, it identifies the management tools that fuel the demand for IDaaS. In addition, the development of real and augmented artificial intelligence (AI) are all key driving factors for the market's growth. Additionally, improved automation, personalization, easy information retrieval, data usability, and knowledge discovery are some of the additional drivers to fuel the market growth.
Growing emphasis on remote work environments across regions is one of the major driving factors for the identity as a service market. With a substantial portion of the global workforce operating in non-traditional office environments, organizations are faced with heightened cybersecurity risks. The presence of remote employees who gain access to corporate networks and sensitive information from different locations and devices leads to vulnerabilities that malicious individuals exploit. Thus, there is a growing demand for real-time identification, monitoring, and response capabilities provided by identity as a service solutions. These solutions enable organizations to safeguard remote access points, detect and mitigate threats aimed at remote workers, and ensure secure connectivity, making them essential in the current landscape of remote work.
The global identity as a service market is segmented on the basis of component, enterprise size, deployment type, industry vertical, and region. On the basis of component, it is segregated into provisioning, single-sign-on, advanced authentication, audit, compliance and governance, directory services, and password management. On the basis of enterprise size, it is segregated into large enterprises and SMEs. On the basis of deployment type, it is segregated into public cloud, private cloud, and hybrid cloud.
On the basis of industry vertical, it is segregated into BFSI, IT and telecom, energy and utilities, government, manufacturing, healthcare, retail and consumer goods, and others. On the basis of region, it is divided into North America, Europe, Asia-Pacific, and LAMEA.
The report highlights numerous factors that influence the growth of the global identity as a service market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry. The identity as a service market is dominated by market players such as CyberArk, Google LLC, IBM Corporation, Microsoft Corporation, Okta, OneLogin, Inc., Oracle Corporation, JumpCloud, Inc., SailPoint Technologies, and Thales. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the identity as a service market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on identity as a service market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the identity as a service market from 2022 to 2032 is provided to determine the market potential.
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Key Market Segments
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
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- SailPoint Technologies, Inc.
- Microsoft Corporation
- OneLogin, Inc.
- Oracle Corporation
- Okta
- JumpCloud Inc.
- IBM Corporation
- CyberArk Software Ltd.
- Google LLC
- Thales Group
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: IDENTITY AS A SERVICE MARKET, BY COMPONENT
CHAPTER 5: IDENTITY AS A SERVICE MARKET, BY DEPLOYMENT TYPE
CHAPTER 6: IDENTITY AS A SERVICE MARKET, BY ENTERPRISE SIZE
CHAPTER 7: IDENTITY AS A SERVICE MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: IDENTITY AS A SERVICE MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to the report titled, 'Identity as a Service Market,' the identity as a service market was valued at $5.8 billion in 2021, and is estimated to reach $53 billion by 2031, growing at a CAGR of 25.2% from 2022 to 2031.Identity as a service (IDaaS) is the term used to describe identity and access management (IAM) services that are offered via the cloud and are paid for via subscription. IDaaS offers administrators protection from security problems due to its ability to automate a variety of user account-related operations. It reduces company risk and saves time and money by standardizing and automating crucial identity, authentication, and permission management components.
Numerous services, including ID verification, user access control, multi-factor authentication and compliance management, are included in IDaaS that combines the advantages of cloud computing identity as a service with enterprise-class identity and access management-as-a-service. User IDs are managed and authenticated using IDaaS. It also aids in preventing unauthorized users and cybercriminals from accessing private information.
The global identity as a service market is segmented on the basis of component, enterprise size, deployment, industry vertical, and region. On the basis of component, it is segregated into provisioning, single-sign-on, advanced authentication, audit, compliance and governance, directory services and password management. On the basis of enterprise size, it is segregated into large enterprise and SMEs. On the basis of deployment, it is segregated into public cloud, private cloud and hybrid cloud. On the basis of industry vertical, it is segregated into BFSI, IT and telecom, energy and utilities, government, manufacturing, healthcare, retail and consumer goods, and others. On the basis of region, it is divided into North America, Europe, Asia-Pacific, and LAMEA.
The identity as a service market is dominated by market players such as CyberArk , Google LLC , IBM, Microsoft Corporation , Okta , OneLogin, Inc. , Oracle Corporation , Ping Identity, SailPoint Technologies and Thales. These players have adopted various Strategies to increase their market penetration and strengthen their position in the industry.
Companies Mentioned
- SailPoint Technologies, Inc.
- Microsoft Corporation
- OneLogin, Inc.
- Oracle Corporation
- Okta
- JumpCloud Inc.
- IBM Corporation
- CyberArk Software Ltd.
- Google LLC
- Thales Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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