Identity-as-a-Service Market

Market Definition

The Global Identity-as-service (IDaaS) market was valued at USD 2.89 Bn in 2019 and 3.69 Bn in 2030 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.

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.

Market Segmentations and Scope of the Study:

The global identity-as-a-service market is segmented on the basis of component, enterprise, 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 enterprise the market has been segmented into small and medium enterprise, and large enterprise. 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.

Competitive Landscape

Some of the major players operating in the market are Ping Identity (US), IDaptive, CA Technologies (US), Microsoft Corporation (US), Oracle Corporation (US), SailPoint Technologies (US), IBM Corporation (US), Salesforce (US), Google (US), Onelogin (US) among others. New product launches, strategic merger & acquisition, geographic expansion are some of the major strategies that are adopted by the companies.

For instance in 2019, Google entered into a strategic partnership with Atos in order to expand the capabilities in Identity-as-a-service. Also, in the same year, IBM acquired Red Hat, which is a provider of open-source software products. The strategic acquisition helped IBM to expand its capabilities in the field of identity management with the help of Red Hat’s identity management portfolio.

Key Benefits

• The Identity-as-service market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on

• The study comprises a deep dive analysis of the identity-as-a-service market trend including the current and future trends for depicting the prevalent investment pockets in the market

• Regional dynamics are also covered in the report in order to have a clear insight regarding the revenue performance of region

• The information related to key drivers, restraints and opportunities and their impact on the identity-as-a-service market is provided in the report.

• New technologies that are adopted by the organization is also depicted in the report

• The competitive analysis of the market players along with their market share in the global identity-as-a-service market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments:

By Component

• Provisioning

• Single Sign-On

• Advanced Authentication

• Audit, Compliance and Governance

• Directory Services

• Password Management

By Deployment Type

• Public Cloud

• Private Cloud

• Hybrid Cloud

By Enterprise

• Small & Medium Enterprise

• Large Enterprises

By End-use

• Banking, Financial Services and Insurance

• Telecom and IT

• Retail and Consumer Goods

• Public Sector

• Energy and Utilities

• Manufacturing

• Healthcare

• Education

• Others

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

KEY PLAYERS:

• Ping Identity

• Idaptive

• Microsoft

• Oracle

• IBM

• Onelogin

• Google

• Salesforce

• CA Technologies

• SailPoint Technologies

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2019–2030
Base Year Considered	2020
Forecast Period	2020–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Component (Provisioning, Single Sign-On, Advanced Authentication, Audit, Compliance and Governance, Directory Services and Password Management), by Deployment Type (Public Cloud, Private Cloud and Hybrid Cloud), by Enterprise (Small & Medium Enterprise, Large Enterprise), by End-user (Banking, Financial Services, Insurance, Telecom and IT, Retail and Consumer Goods, Public Sector, Energy and Utilities, Manufacturing, Education, Healthcare and Others)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining countries)
Companies Profiled	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)