Identity as a Service Market by Type Worth USD 34.33 Billion by 2032

Market Research Future has published a Half-Cooked Research Report on the Global Identity as a Service Market.

Identity as a Service Market Insight

With things going haywire, Market Research Future (MRFR) analyzes vital points to make sure that the businesses around the globe in the global Identity as a Service market 2024 are entirely prepared to tackle potential implications caused by COVID-19 pandemic. MRFR, from its study, estimates that the global utility asset management market 2023 can reach its target to get at least 20.37% CAGR during the forecast period 2024-2032. The valuation to record could record USD 34.33 Billion by 2032.

Top Impactful Factors

MRFR has identified in its study that a boost in the security matters in the public and private sector, demand for cloud-based security solutions and services across the IT infrastructure, and mandating regulatory and data protection laws. These are some of the factors expected to drive the development in the Global Identity-as-a-Service (IDaaS) Market.

The study predicts that gone are the days when the Internet of Things (IoT) was the 'next big thing' in the industrial landscape. The rise of 'Industry 4.0' has hard-pressed businesses towards the actual next big thing that is the Identity of Things (IDoT). Thus, the risen adoption of IoT has caused a stir in the technical, business approach of end-users, and the explosion in the number of IoT-connected devices has triggered severe concerns about identity and access management. The demand for identity-as-a-service (IDaaS) has surged tremendously in the past decade, as the need for identity management platforms such as IDoT, for IoT initiatives, has intensified globally.

To add in this, the identity as a service market is witnessing exponential growth, as businesses are incorporating IoT carefully with essential business operations, and this has bolstered the necessitate for a fresh approach towards identity management processes. Also, with the advent of next-generation technologies, comprising Artificial Intelligence (AI) and cloud computing, the identity as a service market has emerged as a multibillion-dollar landscape in the last few years, that will continue with the stream of growth post-COVID-19 pandemic

Therefore, sensing the enormous growth potential for the providers of identity-as-a-service in the IoT-driven industrial ecosystem, MRFR offers exclusive insights on how to expand the business after long term impact of COVOD-19 outbreak and highly-profitable landscape.

Segmentation of Market

MRFR's new study offers segmental information about the identity-as-a-service market and its competitive landscape. The segmentation has been done across service, organization size, deployment, and vertical segments.

In terms of the service segment, the global market has included access, identity governance & administration, and intelligence.

In terms of organization size segment, the global IDaaS market includes small- and medium-sized enterprises (SME) and large enterprises.

In terms of the deployment segment, the global IDaaS market has included public cloud, private cloud, and hybrid.

In terms of vertical segment, the global IDaaS market has included financial services, banking, and insurance (BFSI), retail and CPG, IT and telecommunication, manufacturing, energy and utilities,  healthcare and life sciences, government and defense, transportation, and others.

Regional Front

The geographic scrutiny of the global IDaaS market has been done for critical regions of Europe, Asia-Pacific, North America, and the rest of the world.

North America region is anticipated to score the prevalent market size in the assessment period. The US leads the market in North America owing to the early adoption of DevSecOps practices for identity and access management and strict government directives for data protection. The mounting cyber threats and swelling demand for reliable identification and authentication solutions on the cloud are motivating the IDaaS market growth in the region.

With this, the Asia-Pacific region is expected to be the fastest expanding market in the global IDaaS market during the assessment period. The emergent adoption of the BYOD trend and IoT across verticals and rising awareness among enterprises over security in developing economies in Asia-Pacific are some of the foremost opportunities for the IDaaS market in Asia-Pacific.

Industry Players

Okta, Inc. (US), Avatier (US), OneLogin, Inc (US), Microsoft Corporation, (US), Centrify Corporation (US), Fischer Identity (US), iWelcome (Netherlands), Oracle Corporation (US), LoginRadius (Canada), Ping Identity (US), IDaptive, LLC. (US) VMWare (US), and Ubisecure, Inc. (Finland) are identified as leading industry players across different regions.