Identity As A Service Market Size, Insights, Outlook, Overview By 2024-2033

The Business Research Company presents an extensive market research report on the Identity As A Service Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The identity as a service market size has grown exponentially in recent years. It will grow from $5.94 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to mobile device proliferation, regulatory compliance requirements, digital transformation initiatives, user experience and convenience, remote workforce challenges, increased use of social media logins, business continuity planning, adoption of bring your own device..

The identity as a service market size is expected to see exponential growth in the next few years. It will grow to $16.25 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to increasing frequency of cyberattacks, rising adoption of zero trust security models, emergence of decentralized identity, advanced threat detection and analytics, globalization and cross-border identity management, continuous authentication practices.. Major trends in the forecast period include multi-factor authentication (mfa), consumer identity and access management , blockchain for identity verification, passwordless authentication, api security, adoption of machine learning and ai, quantum-safe authentication..

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Key Market Players:

Major companies operating in the identity as a service market report are CA Technologies Inc., Centrify Corp., ILANTUS Technologies, iWelcome, JumpCloud Inc., Okta Inc., OneLogin Inc., Salesforce.com Inc., Exostar LLC, Microsoft Corporation, Oracle Corporation, International Business Machines Corporation (IBM), Ping Identity Corporation, Google LLC, SailPoint Technologies Inc., Idaptive LLC, Auth0 Inc., HCL Technologies Limited, Connectis LLC, Gemalto N.V., Fischer International Identity, NetIQ Corporation, Symantec Corporation, SecureAuth Corporation, Avatier Corporation, Bitium Inc., Bitglass Inc., Covisint Corporation, Dell Technologies Inc., EmpowerID Inc.

Market Drivers:

The increasing number of cyberattacks is expected to propel the identity as a service market. Cyberattacks are any attempt to obtain unauthorized access to a computer, computing system, or computer network to cause harm. Even though cyberattacks are getting increasingly sophisticated, security concerns significantly strain most enterprises. Cyberattacks are more likely to target companies that do not offer proper customer protection and corporate information protection. Organizations require a robust identity solution and are investing in identity verification systems. Identification must become the cornerstone of contemporary security because credentials continue to be a target for cybercriminals. Thereby driving the market. For instance, in June 2022, according to Forbes, a US-based business magazine, the average frequency of data breaches and cyberattacks rose by 15.1% in 2021 compared to the previous year. Therefore, the increasing number of cyberattacks is driving the growth of identity as a service market.

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The identity as a service market covered in this report is segmented -

1) By Component Type: Solutions, Services
2) By Access: Single Sign-On, Multi-Factor Authentication, Compliance Management, Directory Services, Other Access
2) By Deployment Type: Public, Private, Hybrid
4) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
5) By End-User: Government, Retail And Consumer Electronics, Transportation And Logistics, Media And Entertainment, IT And Telecommunication, BFSI, Energy And Utility, Healthcare, Automotive, Other End Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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