Press release
Identity as a Service (IDaaS) Market 2022: In-depth Research with Emerging Growth Trends, Regional Status of Top Key Players, Driving Factors, Business Strategies and Industry Size Forecast to 2029
Identity as a Service (IDaaS) Market 2022-2029
New study report" Identity as a Service (IDaaS) Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2029″ has been added to Fortune Business Insights.
Market Overview:
The global identity as a service (IDaaS) market size was USD 3.99 billion in 2022. The market is estimated to grow from USD 4.92 billion in 2022 to USD 23.88 billion in 2029, exhibiting a CAGR of 25.3% during the forecast period.
The report on the Identity as a Service (IDaaS) Market is designed by proficient analysts with the motive to serve on table as an ultimate guide for investors, stakeholders, and people in business to make decisions to augment the growth of the Identity as a Service (IDaaS) market. The report holds market statistics, values, and other factors that can influence the Identity as a Service (IDaaS) market. The market is studied for the forecast period of 2022 to 2029. An in-depth study on the market has been performed to prepare a report maintaining high degree of accuracy thought out. The report details qualitative and quantitative analysis of the Identity as a Service (IDaaS) market. The market overview section elaborates on drivers and constraining factors of the market. Additional causes that are anticipated to cast an impact on the market are also discussed in the report. Our market researchers have meticulously studied the market dynamics to deliver an accurate content-rich report.
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Key Industry Development:
October 2022: Equifax Inc. announced its first digital identity service platform by collaborating with Bonifii. The new solution utilizes cryptography to provide an excellent user experience and improved protection against hacking and fraud.
List of Companies Covered in the Identity as a Service (IDaaS) Market Report:
Ping Identity Corporation
OneLogin Inc.
Atos SE
Microsoft Corporation
Oracle Corporation
Salesforce Inc.
Google LLC
CA Technologies, Inc.
SailPoint Technologies Inc.
IBM Corporation
Covide-19 Impact:
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Method of Research:
Fail-safe, modern research methodologies are employed for the Identity as a Service (IDaaS) market analysis. An exhaustive primary and secondary research conducted on the market using robust research techniques aid in the prediction of the market size at the end of forecast period. Top-up and bottom-down approaches were maintained in the entire market study.
Competitive Landscape-
Manufacturers Launch Novel Solutions to Improve Solutions
The prominent companies operating in the market announce novel solutions to improve their identity as a service offerings and boost their brand image. For example, Auth0 announced its identity platform fused with private cloud-based deployment by partnering with Microsoft Azure in December 2022. This development may enable the company to offer effective and better solutions and simultaneously improve its brand image globally. Further, adopting research and development, acquisitions, expansions, and merger strategies may allow companies to improve their market position globally.
Driving Factors:
Emergence of Several Regulatory Compliances for User Data Protection to Drive Growth
Several countries globally implement stringent regulations for the utilization of consumers' data. As per the Act on Protection of Personal Information, California Consumer Privacy Act, Personal Information Protection and Electronic Documents Act, and the General Data Protection Regulation (GDPR), the adoption of personal data is allowed if complied with the regulations. These regulations mandate the ethical adoption of data collection to ensure consumers' privacy. Further, identity service adoption from several businesses for secure operations may drive the identity as a service (IDaaS) market growth.
However, technical errors and downtime issues may hinder the market's progress.
Segmentation:
Solution, Deployment, Enterprise Size, End User, and Region are Studied
By solution, the market is segmented into single sign-on (SSO), multi-factor authentication (MFA), provisioning, privacy management, password management, advanced authorization, and others. As per deployment, it is trifurcated into public cloud, private cloud, and hybrid cloud. On the basis of enterprise size, it is bifurcated into SMEs and large enterprises. Based on end user, it is categorized into IT & telecom, BFSI, retail, healthcare, government, education, and others. Regionally, it is clubbed into North America, Asia Pacific, South America, Europe, and the Middle East & Africa.
Regional Insights:
Extensive Adoption of Cloud-Based Technology to Foster Industry Progress in North America
North America is expected to dominate the identity as a service (IDaaS) market share due to extensive adoption of cloud-based technology. The market in North America stood at USD 1.44 billion in 2022 and is expected to gain a huge portion of the market share in the coming years. Further, rising demand for user identification solutions and increasing adoption of effective services are expected to fuel identity as a service sales. These factors may propel market development.
Asia Pacific is expected to witness a significant incline due of the shift toward digitalization. Further, the shift of employees, clients, and consumers toward digital platforms is expected to nurture market development. In addition, the growing adoption of digital payment systems and the United Payment Interface is expected to bolster market development.
In Europe, the shift of companies to digital platforms is expected to reinforce identity as a service industry development. According to Europe Cloud Continuum, in 2020, nearly 35% of the workload in Europe is carried out on cloud services. This factor may incite remunerative industry growth.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
North America Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
Europe Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
Asia Pacific Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
Middle East and Africa Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
Latin America Identity as a Service (IDaaS) Market Analysis, Insights and Forecast, 2022-2029
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile
Continue….
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