Identity As A Service Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Identity As A Service Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The identity as a service market has experienced robust growth in recent years, expanding from $5.94 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to mobile device proliferation, regulatory compliance requirements, digital transformation initiatives, user experience and convenience, remote workforce challenges, increased use of social media logins, business continuity planning, adoption of bring your own device.

What Is The Estimated Market Size Of The Global Identity As A Service Market And Its Annual Growth Rate?
The identity as a service market is projected to continue its strong growth, reaching $16.25 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to increasing frequency of cyberattacks, rising adoption of zero trust security models, emergence of decentralized identity, advanced threat detection and analytics, globalization and cross-border identity management, continuous authentication practices.

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Growth Driver Of The Identity As A Service Market
The increasing number of cyberattacks is expected to propel the identity as a service market. Cyberattacks are any attempt to obtain unauthorized access to a computer, computing system, or computer network to cause harm. Even though cyberattacks are getting increasingly sophisticated, security concerns significantly strain most enterprises. Cyberattacks are more likely to target companies that do not offer proper customer protection and corporate information protection. Organizations require a robust identity solution and are investing in identity verification systems. Identification must become the cornerstone of contemporary security because credentials continue to be a target for cybercriminals. Thereby driving the market.

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Which Market Players Are Driving The Identity As A Service Market Growth?
Key players in the market include CA Technologies Inc., Centrify Corp., ILANTUS Technologies, iWelcome, JumpCloud Inc., Okta Inc., OneLogin Inc., Salesforce.com Inc., Exostar LLC, Microsoft Corporation, Oracle Corporation, International Business Machines Corporation (IBM), Ping Identity Corporation, Google LLC, SailPoint Technologies Inc., Idaptive LLC, Auth0 Inc., HCL Technologies Limited, Connectis LLC, Gemalto N.V., Fischer International Identity, NetIQ Corporation, Symantec Corporation, SecureAuth Corporation, Avatier Corporation, Bitium Inc., Bitglass Inc., Covisint Corporation, Dell Technologies Inc., EmpowerID Inc.

What Are the Key Trends That Influence The Identity As A Service Market Size?
Major companies operating in the identity as a service are focused on introducing new innovative solution such as one touch multi-factor authentication to sustain their position in the market. One-touch multi-factor authentication (MFA) is a security mechanism that combines the convenience of a single action, typically a touch or tap, with the enhanced security of multiple authentication factors. Organizations adopting Identity as a Service solutions leverage the efficiency of one-touch multi-factor authentication to fortify access controls, protect sensitive data, and respond to the escalating threats of identity and authentication frauds.

How Is The Global Identity As A Service Market 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

Geographical Insights: North America Leading The Identity As A Service Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Identity As A Service Market Definition
Identity as a service refers to a subscription-based cloud model for identity and access management where identity and access services are delivered over the internet by a third-party provider rather than hosted on-premises. Identity as a service allows users to connect to and use identity management services from the cloud.

Identity As A Service Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global identity as a service market report covering trends, opportunities, strategies, and more
The Identity As A Service Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on identity as a service market size, identity as a service market drivers and trends, identity as a service market major players and identity as a service market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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