Identity As A Service Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

What market dynamics are playing a key role in accelerating the growth of the identity as a service market?
The growth of the identity as a service market is expected to be fueled by the escalating frequency of cyberattacks. Cyberattacks consist of all attempts to gain unauthorized access into a computer, computing system, or network with the intention of causing harm. Despite becoming ever more advanced, these cyberattacks pose a major challenge to a considerable number of businesses. Businesses that lack adequate customer and corporate information security are more prone to being targeted in cyberattacks. As a result, organizations now perceive the need for a robust identity thanks to hackers targeting credentials, leading to increased investment in identity verification systems. This trend strongly supports market growth. Forbes, a prominent US business magazine, stated in June 2022 that the average occurrence of data breaches and cyberattacks increased by 15.1% in 2021 compared to the year prior, highlighting that the surge in cyberattacks contributes significantly to the expansion of the identity as a service market.

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How will the growth rate of the identity as a service market shape industry trends by 2034?
The market size for identity as a service has seen a substantial increase in the recent past. It is projected to expand from $7.06 billion in 2024 to $8.48 billion in 2025, growing at a compound annual growth rate (CAGR) of 20.2%. Various factors have contributed to this growth in the historic period, such as widespread use of mobile devices, regulatory compliance mandates, initiatives for digital transformation, emphasis on user experience and convenience, challenges associated with a remote workforce, the surge in social media logins, the need for business continuity planning, and the trend of bring your own device.

The market size of identity as a service is anticipated to witness substantial expansion in the upcoming years. The projections indicate a surge to $20.46 billion by 2029 at a compound annual growth rate (CAGR) of 24.6%. The growth during the forecast timeframe is likely due to an increased rate of cyberattacks, heightened use of zero trust security frameworks, the rise of decentralized identification, enhanced threat perception and analytics, globalization, and transnational identity administration, continuous validation practices. Key trends during this period comprise multi-factor verification (MFA), consumer identity and access control, application of blockchain in identity validation, the transition to passwordless authentication, API security, the integration of machine learning and AI, and advancements in quantum-safe verification.

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What trends are poised to drive the future success of the identity as a service market?
The rise in technological advancements is becoming a significant trend in the identity as a service market. Top competitors in this marketplace are manufacturing high-tech products to maintain their market presence. In December 2022, for example, CloudIBN, a US-based operation specialized in cloud infrastructure consultation and implementation, introduced its Identity and Access Management (IAM) solution. Their comprehensive IAM system aims to facilitate businesses in managing user-access control comprehensively across their organization while assuring data security. CloudIBN custom tailors its IAM offerings to comply with specific industry regulatory standards, assuring that companies follow pertinent rules. The firm strives to offer solutions that merge faultlessly with pre-existing operations, lessening potential disturbances. By utilizing its proficiency in wide-ranging implementations across various sectors such as healthcare and finance, CloudIBN ensures that organizations can securely manage their digital assets from a distance.

Which primary segments of the identity as a service market are driving growth and industry transformations?
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

Subsegments:
1) By Solutions: Identity Governance And Administration, Access Management, User Provisioning, Single Sign-On (SSO), Multi-Factor Authentication (MFA), Directory Services
2) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services

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Which geographical regions are pioneering growth in the identity as a service market?
North America was the largest region in the identity as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global identity as a service market share during the forecast period. The regions covered in the identity as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the identity as a service market landscape?
Major companies operating in the identity as a service market are 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.

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

• Market Size Forecast: Examine the identity as a service market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the identity as a service market for a structured understanding.
• Key Players Overview: Analyze major players in the identity as a service market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the identity as a service market.
• Segment Contributions: Evaluate how different segments drive overall growth in the identity as a service market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the identity as a service market.
• Industry Challenges: Identify potential risks and obstacles affecting the identity as a service market.
• Competitive Landscape: Review strategic developments in the identity as a service market, including expansions, agreements, and new product launches.

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