IDaaS Market Soars to Reach USD 36.24 Billion by 2032 due to High Demand for Advanced Security Solutions, Expanding at a CAGR of 25.0%

Dataintelo has published its latest report revealing that the global Identity and Access Management-as-a-service (IDaaS) market size, which was valued at USD 6.9 Billion in 2023, is forecasted to reach a staggering USD 36.24 Billion by 2032. This represents a compound annual growth rate (CAGR) of 25.0% during the period 2024-2032. This rapid market expansion can be attributed primarily to a rising demand for advanced security solutions.

The report notes that the persistent surge in cyber threats has led to an increased demand for advanced security solutions, propelling growth in the IDaaS market. The IDaaS solutions offer secure, identity-driven access to numerous systems and applications, allowing organizations to effectively safeguard their digital assets.

In addition to cyber threat protection, the escalating need for regulatory compliance is also cited as an essential growth driver for the IDaaS market. Adhering to an increasing number of data protection and user privacy regulations has become a necessity for organizations worldwide, and IDaaS solutions play a vital role in ensuring organizations meet those requirements.

The rapid adoption of cloud-based services across multiple industries has also contributed to the continued growth of the IDaaS market. IDaaS solutions integrate seamlessly with cloud architectures, providing robust and scalable access management capabilities.

Lastly, the report highlights the growing trend of Bring Your Own Device (BYOD) in numerous industries as a factor contributing to market growth. Given the increased vulnerabilities that can come with employees using their own devices for work purposes, IDaaS solutions are critical for managing user identities and access across these devices securely.

While already experiencing significant growth, the market for IDaaS is projected to continue its rise in the coming years, driven by the increasing need for advanced security solutions, regulatory compliance, the adoption of cloud-based services, and widespread BYOD practices

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/80808

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The identity and access management-as-a-service (IDaaS) market has been segmented on the basis of𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭
● Provisioning
● Password Management
● Multi-Factor Authentication
● Single Sign-On
● Audit & Compliance Management
● Security Information & Event Management
● Others

𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐓𝐲𝐩𝐞
● Public Cloud
● Private Cloud
● Hybrid Cloud

𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐒𝐢𝐳𝐞
● Small & Medium Enterprises
● Large Enterprises

𝐄𝐧𝐝-𝐮𝐬𝐞𝐫
● BFSI
● Telecom & IT
● Education
● Healthcare
● Public Sector & Utilities
● Manufacturing
● Retail
● Others

𝐑𝐞𝐠𝐢𝐨𝐧
● Asia Pacific
● North America
● Latin America
● Europe
● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
● 𝐀𝐭𝐨𝐬 𝐒𝐄
● CyberArk Software Ltd.
● Entrust Corporation
● HCL Technologies Limited
● 𝐈𝐁𝐌
● Microsoft
● Okta
● Open Text Corporation
● Oracle
● Ping Identity
● SailPoint Technologies, Inc.
● Salesforce, Inc.
● Thales



Segment Analysis:

The identity and access management-as-a-service (IDaaS) market is segmented primarily based on various factors such as components, deployment type, organization size, and end-users. The components division includes provisioning, password management, multi-factor authentication, single sign-on, audit & compliance management, security information & event management and others. Among these, multi-factor authentication and single sign-on are expected to witness significant growth due to the increasing need for advanced security solutions. Correspondingly, the deployment type is sub-divided into public cloud, private cloud and hybrid cloud with the hybrid model gaining popularity owing to its enhanced data security features.



As per organization size, the market is divided into small & medium enterprises and large enterprises. The latter is expected to dominate owing to the increased adoption of IDaaS for its cost-effectiveness and scalability. Lastly, the market is categorized into numerous end-user segments, the likes of which include BFSI, telecom & IT, education, healthcare, public sector & utilities, manufacturing, retail and others. The BFSI sector will likely be potent due to the urgent need for stringent security measures against increasing cyber-attacks.

Regional Analysis:

In terms of geographical regions, the identity and access management-as-a-service (IDaaS) market is broadly divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The North American region has displayed significant potential due to proactive security measures and stringent regulatory norms in IT infrastructure. High technological adoption and the presence of key vendors have made North America a substantial segment in the global market space.



Meanwhile, the Asia-Pacific region is expected to register rapid growth due to the growing digitization in emerging economies like India, China, and South Korea, coupled with the rising demand for cloud services. The Europe segment, with its strong BFSI sector, is predicted to contribute significantly due to high demand from organizations that need advanced security systems to protect sensitive data. The Latin America and Middle East & Africa regions, though nascent, are expected to flourish due to the growing awareness regarding data protection

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/80808

Market Drivers for IDaaS Market:

1. Increased Overall Cybersecurity Threats: As the level of data breaches and cyber threats increases, more organizations are becoming aware of the need for advanced security solutions, such as IDaaS.

2. Shift towards Cloud-Based Services: The shift towards the adoption of cloud-based solutions by companies is another driver of the IDaaS market. This shift is due to the improved accessibility, cost-effectiveness, and scalability offered by these services.

3. Regulatory Compliance: Various regulatory laws like GDPR, HIPAA mandate the businesses to protect and manage the corporate and personal data, which drives the adoption of IDaaS solutions.

4. Growing Adoption by SMEs: Small and medium enterprises (SMEs) are increasingly implementing IDaaS due to its cost-effectiveness and ease of use.

5. Increasing Mobile Workforce and BYOD (Bring Your Own Device) Concept: With remote work trends on the rise, organizations need systems that manage identity and access securely across various devices and locations, driving demand for IDaaS solutions.

6. Digital Transformation: As companies are moving towards digital transformation, the need for secure identity verification systems is essential, providing an impetus to the IDaaS market.

Opportunities for IDaaS Market:

1. Expansion of Advanced Technologies: With the advancement of technologies such as artificial intelligence, machine learning, and big data analytics, the IDaaS market can introduce more effective and efficient solutions leading to market growth.

2. Entry into Emerging Markets: Emerging economies like India, Brazil, South Africa provide ample opportunities for the providers of IDaaS due to the increasing digitalization and less competitive markets.

3. Strategic Collaborations and Partnerships: IDaaS providers can seek partnerships and collaborations with other tech companies to enhance their solutions and expand their market presence.

4. Providing Industry-Specific Solutions: Tailoring IDaaS solutions to cater to specific industries like healthcare, banking, retail, etc., can open new growth avenues for market players.

5. Rising IoT Adoption: With the increase in IoT devices, the demand for strong authentication and identity verification services is bound to rise, creating significant opportunities for IDaaS markets

𝐘𝐨𝐮 𝐜𝐚𝐧 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐫𝐨𝐦: https://dataintelo.com/checkout/80808

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