Cloud Authentication Market is anticipated to increase at a high CAGR of 14.4% from 2022 to 2032

With a CAGR of 14.4%, the cloud authentication market is anticipated to reach US$ 12,753.4 million in value by 2032. The market will be worth $11,279.2 million in 2022. The market's value was US$ 10,020.0 million in 2021, with a lower demand growth rate of 12.6% from 2018 to 2022.

The adoption of new identity and access management regulations by the government and the extraordinary rise in cloud usage are the primary factors driving the growth of the cloud authentication market. The global market for cloud authentication is anticipated to grow rapidly as it gains traction in the BFSI, IT & telecom, and retail sectors.

Moreover, as a result of the industrial advancements occurring in developing economies, the popularity of cloud services is likely to rise.

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The cloud authentication market refers to the industry that produces and sells solutions for authenticating users and devices in cloud-based environments. These solutions enable secure access to cloud-based applications and data by verifying the identity of users and devices.

The market for cloud authentication is driven by the increasing adoption of cloud-based services and the need for secure and efficient authentication solutions. Cloud authentication solutions provide organizations with the ability to manage access to cloud-based resources from a centralized location, while also offering advanced security features such as multi-factor authentication and risk-based authentication.

Key Players

IBM
Microsoft
CA. Inc
Secureworks Inc.
Oracle Corporation
Intel Corporation
Onelogin Inc.
Hewlett Packard Enterprise Development LP
Sailpoints Technology Holdings Inc.
Ping Identity
The cloud authentication market is expected to continue growing in the coming years, driven by the increasing adoption of cloud-based services across various industries. The market is also likely to benefit from the growing need for advanced security solutions to protect against cyber threats such as data breaches and unauthorized access to sensitive information.

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A provider of cloud authentication services focuses on e-commerce to increase its opportunities
The e-commerce industry is anticipated to grow at the fastest rate during the forecast period. Through a number of channels, the vertical sells consumer goods and services to its clients.

E-commerce is also among the most cost-conscious industries and one of the companies that hackers target the most due to the potential for payments and the enormous volume of financial transactions made using credit and debit cards. The adoption of cloud authentication is therefore regarded as the safest choice for businesses.

Additionally, it is predicted that as the supply chain, labour, distribution partners, and customers become more complicated, merchants will be more likely to use cloud authentication services.

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Key segments

By Type:

Single
Multifactor

By Enterprise Size:

Small Offices (1-9 employees)
Small Enterprises (10-99 employees)
Medium-sized enterprise (100-499 employees)
Large Enterprises (500-999 employees)
Very Large Enterprises (1000+ employees)

By Industry:

Service
Distribution Services
Public Sector
Finance
Manufacturing Resources
Infrastructure

By Region:

North America
Latin America
Europe
East Asia
South Asia and the Pacific
Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.