Identity-as-service (IDaaS) Market competitive landscape, key players, business opportunities and forecast 2021-2030

The Global Identity-as-service (IDaaS) Market was valued at USD 2.89 Bn in 2019 expanding at CAGR of 20.4% from 2020-2030.

Identity-as-a-Service comprises of cloud based solutions for identity and access management such as single sign-on, multi-factor authentication among others. This method allows the users such as employees, customers and third parties to securely access sensitive information stored both on-premise and cloud. Multi-factor authentication (MFA) including biometrics are considered as the core components of IDaaS. Multi-factor authentication has become one of the popular way of verifying the identity of the users. MFA requires more than one source for identifying the user and providing the authentication. Also, multifactor authentication offers additional security and diminishes the likelihood of unauthorized access. For instance, Microsoft Authenticator and Google 2-Step Verification are some of the examples that uses multi-factor authentication. Both of these relies on time-based one time password algorithm (TOTP). There are major benefits associated with the usage of IaaS. For instance, IaaS offers better security, compliance and operates at an affordable cost. Beside these advantages, Identity-as-a-Service also enables faster log-in methods and sends fewer password requests.

Access Full Description of this report at:–

https://www.nextmsc.com/report/identity-as-a-service-market

Top Companies: Okta, Inc. (US), Ping Identity (US), IDaptive, LLC (US), CA Technologies (US), OneLogin (US), Microsoft Corporation (US), Oracle Corporation (US), SailPoint Technologies (US), IBM Corporation (US), Salesforce (US), Google (US), Capgemini (France), HCL (India), Simeio Solutions (US), Gemalto (Netherlands), Connectis (Netherlands), Jumio (US), One Identity (US), Auth0 (US), and JumpCloud (US)

Market Dynamics and Trends

Obligation towards regulatory mandates coupled with data protection laws are major factors driving the overall growth of Identity-as-a-Service market. Also, increased security concerns both in public and private sector is triggering the overall demand for Identity-as-a-Service. However, budgetary limitation and reluctance of organizations to adopt cloud-based security solutions are restraining the growth of Identity-as-Service market.

Moreover, adoption of ML and AI technologies in order to improve the identity management are creating new opportunities to the market players.

Request sample copy of this report at:-

https://www.nextmsc.com/identity-as-a-service-market/request-sample

Market Segmentations and Scope of the Study:

The global identity-as-a-service market is segmented on the basis of component, deployment, organization size and end-user. By different component the market has been segmented into provisioning, single sign-on, advanced authentication, audit, compliance and governance, directory services and password management. By deployment type the market has been segmented into private, public and hybrid cloud. By end-use the market has been segmented into banking, financial services and insurance, telecom and IT, consumer goods and retail, public sector, energy and utilities, manufacturing, healthcare, education and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the market in 2019 and is expected to display similar trend in the coming years owing to the advancement in terms of technology and development in the infrastructure. Rising incidents of security threats and data breaches is a major factor resulting in the increased demand for identity-as-a-service in North America. Further, rising number of cyber-attacks to access confidential consumer data, greater adoption of cloud and changing needs of workforce are also driving the market growth in North America.

Contact:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.