Soaring Growth in Identity As A Service Market: A Comprehensive Study on Key Drivers, Market Size, and Trends

The rapidly evolving Identity As A Service (IAAS) market witnesses significant growth, driven by factors such as the rising frequency of cyberattacks and the widespread adoption of advanced security models.

What Is The Projected Market Size Of The Global Identity As A Service Market And Its Growth Rate?

•The identity as a service market size was $7.06 billion in 2024, predicted to rise to $8.48 billion in 2025 with a compound annual growth rate (CAGR) of 20.2%.
•The exponential growth forecast for this market anticipates it touching $20.46 billion in 2029 at a compound annual growth rate (CAGR) of 24.6%.

What Is Driving The Growth In The Identity As A Service Market?

The significant increase in the number of cyberattacks is expected to significantly drive the identity as a service market. With security remaining a primary concern for most enterprises, they require a robust identity solution, and consequently, significant investment is directed towards identity verification systems. According to Forbes, data breaches and cyberattacks rose by 15.1% in 2021 compared to the previous year, further heightening the need for advanced security solutions and thereby propelling the market.

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Who Are the Key Players Driving Identity As A Service Market Growth?

Major companies in the identity as a service market include:
•Centrify Corp.
•ILANTUS Technologies
•iWelcome
•JumpCloud Inc.
•Okta Inc.
•Salesforce.com Inc.
•Exostar LLC
•Microsoft Corporation
•Oracle Corporation
•International Business Machines Corporation (IBM)
•Ping Identity Corporation
•Google LLC
•SailPoint Technologies Inc.
•Auth0 Inc.
•HCL Technologies Limited
•Connectis LLC
•SecureAuth Corporation
•Avatier Corporation
•Bitglass Inc
•EmpowerID Inc.

What Are The Key Trends In The Identity As A Service Market?

The identity as a service market is experiencing major trends like:
•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

What Are The Segments Of The Global Identity As A Service Market?

The global identity as a service market is segmented into:
•Component Type: Solutions, Services
•Access: Single Sign-On, Multi-Factor Authentication, Compliance Management, Directory Services, Other Access
•Deployment Type: Public, Private, Hybrid
•Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
•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

Which Region Leads The Identity As A Service Market?

North America was the largest region in the identity as a service market in 2024. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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What Is Covered In The Identity As A Service Market Global Market Report?

- Market Size Analysis: Analyze the Identity As A Service Market size by key regions, countries, product types, and applications.

- Market Segmentation Analysis: Identify various subsegments within the Identity As A Service Market for effective categorization.

- Key Player Focus on key players to define their market value, share, and competitive landscape.

- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.

- Market Contribution: Evaluate contributions of different segments to the overall Identity As A Service Market growth.

- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.

- Industry Challenges: Analyze challenges and risks affecting the Identity As A Service Market.

- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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