Identity as a Service Market Trends, Opportunities and Forecast By 2029
The realistic Identity as a Service market survey report contains thorough description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. The market is considerably transforming because of the moves of the key players and brands including developments, product launches, joint ventures, mergers and acquisitions that in turn changes the view of the global face of ABC industry. By keeping end users at the centre point, a team of researchers, forecasters, analysts and industry experts work painstakingly to create Identity as a Service market research document.
Global Identity as a Service (IDaaS) Market was valued at USD 3.71 billion in 2021 and is expected to reach USD 17.96 billion by 2029, registering a CAGR of 21.80% during the forecast period of 2022-2029. “Government” accounts for the largest end user sector owing to the high deployment of web and mobile applications to serve their citizens.
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Market Overview:
Identification as a service (IDaaS) is a tool for meeting business expectations on the cloud by providing features for IAM (identity and access management). It also includes a user interface, federated identity, API security, and identity analytics that can detect and react to threats. They're commonly utilised in authentication/identification, document verification, and screening applications.
Identity as a Service (IDaaS) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
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Security Concerns
The increase in the security concerns both in the public and private sector acts as one of the major factors driving the growth of identity as a service (IDaaS) market. The high demand for cloud-based security solutions and services assists in the market growth.
Some of the major players operating in the identity as a service (IDaaS) market are:
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CA Technologies (US)
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Centrify (US)
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Ilantus Technologies Private Limited (India)
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Exostar (US)
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iWelcome (Netherlands)
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JumpCloud, Inc. (US)
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Okta, Inc. (US)
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OneLogin, Inc. (US)
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Oracle Corporation (US)
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Ping Identity Corporation (US)
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