Global Identity as a Service Market Trends, Business Strategies, Regional Outlook and Forecast Report, 2030

According to the latest market research study published by P&S Intelligence, the identity as a service (IDaaS) market is poised for substantial growth, with projected revenues reaching $8,938.0 million in 2024 and an anticipated compound annual growth rate (CAGR) of 25.7% during the period 2024-2030, culminating in $35,309.4 million by 2030.

This robust expansion is driven by the increasing adoption of cloud-based identity management solutions that offer enhanced security, streamlined user experiences, and cost efficiencies. IDaaS encompasses services such as multi-factor authentication, directory service authentication, adaptive authentication, and single sign-on capabilities, enabling organizations to effectively protect identities and manage access to cloud applications. By outsourcing identity and access management to specialized third-party vendors, businesses can reduce administrative overheads, as these providers handle infrastructure management, security, and software updates.

Browse a detailed report analysis on: https://www.psmarketresearch.com/market-analysis/identity-as-a-service-market

Key Insights

Component Analysis

The single sign-on (SSO) category is projected to hold the largest share in the IDaaS market. SSO solutions simplify user authentication processes by allowing access to multiple applications with a single set of credentials, thereby enhancing user convenience and reducing password fatigue.

Deployment Mode Trends

Organizations are increasingly adopting public cloud deployment models for IDaaS solutions due to their scalability, flexibility, and cost-effectiveness. Public cloud offerings enable businesses to quickly implement identity management services without the need for significant on-premises infrastructure investments.

Enterprise Size Adoption

Large enterprises are anticipated to be the primary adopters of IDaaS solutions, leveraging these services to manage complex identity and access requirements across extensive user bases and diverse applications. However, small and medium-sized enterprises (SMEs) are also recognizing the benefits of IDaaS, particularly in enhancing security and compliance without substantial resource allocation.

Vertical Market Dynamics

The Banking, Financial Services, and Insurance (BFSI) sector is expected to be a significant contributor to the IDaaS market growth. The critical need to protect sensitive financial data and comply with stringent regulatory requirements drives the adoption of robust identity management solutions in this industry. Other sectors, including IT & ITeS, healthcare, and government, are also increasingly implementing IDaaS to safeguard data and ensure secure access.

Regional Outlook

North America is projected to maintain its position as the largest IDaaS market, attributed to early adoption of advanced technologies and a strong focus on cybersecurity. Meanwhile, the Asia-Pacific region is expected to experience the fastest growth, driven by rapid digital transformation, increasing cyber threats, and supportive government initiatives promoting secure digital infrastructures.

Technological Advancements

The integration of artificial intelligence (AI) and machine learning (ML) into IDaaS solutions is a notable trend, enhancing capabilities in risk-based authentication, anomaly detection, and behavioral biometrics. These technologies enable predictive threat analysis and swift responses, thereby strengthening digital security frameworks.

Download free report sample at: https://www.psmarketresearch.com/market-analysis/identity-as-a-service-market/report-sample

Competitive Landscape

The IDaaS market is characterized by a fragmented landscape with numerous players offering diverse solutions. Key industry participants are focusing on innovation, strategic partnerships, and mergers and acquisitions to enhance their service offerings and expand market presence.

The IDaaS market's rapid growth underscores the critical importance of secure and efficient identity management solutions in today's digital ecosystem. Organizations across various sectors are increasingly recognizing the value of adopting IDaaS to protect against evolving cyber threats, ensure compliance, and enhance operational efficiencies.

Browse More Reports Published by P&S:

Application Platform as a Service Market - https://www.psmarketresearch.com/market-analysis/application-platform-as-a-service-market

Anti-Money Laundering Market - https://www.psmarketresearch.com/market-analysis/anti-money-laundering-aml-market

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://psintelligence.blogspot.com

This release was published on openPR.