Identity As A Service Market Size, Outlook, Size, Share, Demand 2024-2033 |

"The Business Research Company recently released a comprehensive report on the Global Identity As A Service Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

Rise in identity and authentication frauds is expected to propel the identity as a service market. Identity fraud is a type of crime where an individual's personal information is stolen or manipulated by someone else with the intent to commit fraudulent activities. Authentication fraud refers to the illicit attempt to gain access to a system, device, or account by deceiving or bypassing the authentication mechanisms put in place to verify the identity of a user. The rising incidence of authentication fraud underscores the vulnerability of traditional authentication systems, propelling the demand for advanced IDaaS solutions. For instance, in 2021, according to, federal Trade Commission data, a US-based Government agency, more than 5.88 million fraud reports were filed with the FTC, (Federal Trade Commission) an increase of more than 70 percent over the previous year. Therefore, rise in identity and authentication frauds is driving the growth of identity as a service market.

Technological advancements are a key trend gaining popularity in the identity as a service market. Major players in the market are creating technologically advanced products using artificial intelligence and machine learning. Artificial intelligence enables machines to mimic and even outperform human mental powers and machine learning is a part of artificial intelligence. For instance, in September 2021, ForgeRock, a US-based multinational identity, and access management software company, launched ForgeRock Autonomous Identity. ForgeRock Autonomous Identity is the company's AI-driven identity governance and administration (IGA) strategy that offers additional capabilities to assist teams in enhancing security. It uses artificial intelligence (AI) and machine learning to lower enterprise risk by identifying patterns of role-based access across the entire organization and recommending optimized role structures. It is aimed at assisting businesses in lowering risk and effectively managing workforce access.

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Major Key Players of the Market:

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.

Identity As A Service Market 2024 Key Insights:

• 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%.
• Rising Cybersecurity Threats Fueling The Surge In Identity As A Service (IDAAS) Market
• Elevating Security Measures The Integration Of Artificial Intelligence And Machine Learning In Identity As A Service (IDAAS)
• North America was the largest region in the identity as a service market in 2023

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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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