Identity-as-a-Service

Identity-as-a-Service Market by Component (Audit, Compliance & Governance, Directory Services, Multifactor Authentication), Deployment (Hybrid, Private, Public), Organization, End-use - Global Forecast 2024-2030

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[196 Pages Report] The Identity-as-a-Service Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 9.15 billion in 2024, at a CAGR 21.59% to reach USD 29.67 billion by 2030.

Identity-as-a-Service Market
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Identity as a Service, or IDaaS, is an advanced cloud-based authentication model to streamline identity verification across multiple applications and systems. This revolutionary concept ensures secure access to resources, regardless of where an individual is, the device in use, or the network involved. The advancements in cloud-based technologies, an increase in incidents of identity thefts, and the necessity for enhanced mobility mechanisms may increase the deployment of identity as a service. However, data breach threats, familiarity and comfort with traditional physical identity systems, and privacy concerns of sharing sensitive information may hinder the adoption of identity as a service. Nevertheless, the recent surge in remote work culture has amplified the need for secure access to enterprise applications, heightening the demand for IDaaS solutions. Moreover, Increasingly stringent regulatory policies pertaining to data privacy have augmented the necessity for robust identity and access management solutions. Compliance with these regulations can open new avenues for growth in the IDaaS market.

Regional Insights

The Identity-as-a-Service (IDaaS) market is evolving in the Americas owing to the heightened emphasis on regulatory compliance and the rise of cyber threats. Canadian IDaaS market progression is due to strong measures for data security and commitment to cloud infrastructures. GDPR compliance has raised the importance of IDaaS in the European Union, thereby seeing increased investment across the region. The rise of digital transformation in both the Middle East and Africa has raised the need for robust IDaaS solutions. Growing emphasis on biometric and AI-driven identity solutions, stringent data protection laws, and massive potential in fintech, eCommerce, and IT sectors have propelled the use of Identity-as-a-Service (IDaaS) solutions in the APAC region. Besides, advancements in Identity-as-a-Service (IDaaS) to improve efficiency and performance are anticipated to propel their use by the end-use sectors globally.

Component: Growing use of single sign-on (SSO) as it enables users to access multiple applications or websites using one set of login credentials

Audit, compliance & governance is integral to Identity-as-a-Service (IDaaS) platforms. This component helps enterprises align their IDaaS solutions with regulatory norms and legal mandates. It allows them to analyze and validate these services' effectiveness statistically, assuring efficient audit trails, thus assuring internal and external stakeholders. The directory services component systematically organizes and manages users and resources within an IT ecosystem. IDaaS uses this feature to provide enhanced security and seamless integration, fostering a simple user experience across various protocols such as LDAP, SAML, and others. Multifactor Authentication (MFA) is a cornerstone of advanced IDaaS solutions catering to increased protection. It enhances security by mandating at least two concurrent levels of authentication from independent categories of credentials such as passwords, security tokens, and biometrics. Password management further fortifies the security aspect of an IDaaS system. It includes capabilities such as password complexity requirements, scheduled resets, encryption and storage, and recovery options, all manifest towards reducing credential-based risks while bolstering overall security architecture. Provisioning' refers to the IDaaS function of creating, modifying, or deleting user access rights to enterprise resources. This provision enables efficient system management of user lifecycle and access entitlements, streamlining IT administration and enhancing security control. The single sign-on (SSO) feature enhances user experience by permitting users to access multiple applications or resources with a single set of credentials. This aspect improves user convenience and reduces the probability of password fatigue leading to potential security breaches. These integral components blend into an identity-as-a-service platform, ensuring reliable digital identities, tight security, streamlined administration, and efficient compliance.

Deployment: Proliferating use of IDaaS in public deployments as it offers high scalability and elasticity

Hybrid deployment of IDaaS is an optimal solution for those organizations aiming to strike a healthy balance between on-premise security and cloud-based efficiency. A hybrid IDaaS model offers enhanced security and increased control over data by integrating on-premise identity and access management (IAM) infrastructure with a cloud-based system. A private deployment of the IDaaS solution is a private cloud setup within an organization's controlled internal IT infrastructure. This deployment is tailor-made for businesses that desire absolute control over their data security procedures and where regulatory compliance is paramount. Organizations with strict data residency requirements often choose this deployment option. Public deployment of IDaaS utilizes the infrastructure of public cloud providers. This deployment type offers high scalability and elasticity, making it an economical and effective solution for businesses targeting wide accessibility and rapid growth. It is crucial, however, to ensure the chosen public cloud provider has substantial security protocols and systems in place. Data encryption, access control, threat detection, and response mechanisms are critical factors in avoiding potential security risks associated with the public deployment of IDaaS.

Organization: High usage of identity-as-a-service (IDaaS) in large enterprises

In large enterprises, identity-as-a-service (IDaaS) has rapidly become instrumental to the security strategy. IDaaS can efficiently manage user access across a broad spectrum of applications by offering centralized and simplified identity management. Large enterprises managing thousands of employee credentials and applications can benefit from IDaaS's automated, scalable, and smart solutions. They can delegate the heavy lifting of identity and access management to dedicated cloud-based services. Small & Medium Enterprises (SMEs) can leverage IDaaS solutions to aid in the secure exchange of user identities in multi-domain environments, reduce IT overhead, and reduce days spent on integrations. The need for cost-efficient and user-friendly identity management systems makes IDaaS particularly attractive to SMEs.

End-use: Increasing utilization of identity-as-a-service across the banking, financial services, and insurance (BFSI) sector

The Banking, Financial Services, and Insurance (BFSI) sector is increasingly adopting identity-as-a-service (IDaaS) to amplify security. It provides risk-based authentication for benign transactions and delivers a secure customer experience. By integrating IDaaS, sensitive data is protected from fraud and identity theft. IDaaS in the Education sector paves the way for ingenious learning methodologies. IDaaS offers effective identity management protocols to secure the user data of both staff and students. With its seamless integration, educational institutions can implement digital transformation strategies more effectively and securely. In Healthcare, the security of patient data is paramount. IDaaS plays a crucial role in validating patients' identities and assisting in providing customized care. IDaaS solutions help healthcare providers maintain the confidentiality and integrity of data by fulfilling security compliance requirements. In the Manufacturing sector, IDaaS enables secure business operations by controlling the access to sensitive data and systems. The practical application of IDaaS ensures authorized and compliant access to data, thereby raising the sector's standard of data security, accountability, and traceability. The public sector employs IDaaS to strengthen transparency and safety measures while enhancing public services' efficiency. IDaaS ensures the secure authentication of users and prevents unauthorized activities, thereby enabling data protection and privacy, which are essential to maintaining public trust. Telecommunication and information technology sectors profit tremendously from IDaaS. IDaaS fortifies security by managing and authenticating user access across multiple IT systems. It aids in mitigating cyber threats and helps companies safeguard their data integrity without compromising operational speed.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Identity-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Identity-as-a-Service Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Identity-as-a-Service Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Identity-as-a-Service Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Identity-as-a-Service Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Identity-as-a-Service Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Identity-as-a-Service Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Identity-as-a-Service Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Identity-as-a-Service Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Identity-as-a-Service Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Identity-as-a-Service Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Identity-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Identity-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Certn Acquires Trustmatic to Expand Its Identity Verification Services

    Certn has acquired Trustmatic, a move to expand its identity verification services through Identity-as-a-Service. This strategic acquisition allows Certn to offer a more secure and automated process for identity verifications. With this integration, Certn is well-positioned to provide a comprehensive and reliable solution for identity verification needs. [Published On: 2023-11-07]

  • BIO-key Partners with Ethnos IT Solutions, Expanding the Reach of its Identity and Access Management Solutions Across Africa

    BIO-key has partnered with Ethnos IT Solutions to extend its Identity and Access Management Solutions throughout Africa. This collaboration aims to deliver cost savings, enhance security authentication standards, and provide customer convenience to African nations. This partnership will promote adopting efficient and reliable identity-as-a-service solutions, benefiting African organizations and individuals. [Published On: 2023-03-28]

  • Simeio Announces Strategic Acquisition of Identity and Access Management Firm PathMaker Group

    Simeio has announced the strategic acquisition of PathMaker Group, an esteemed firm specializing in identity and access management. This acquisition opens up new avenues for Simeio to enhance its Identity-as-a-Service capabilities. [Published On: 2023-01-10]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Identity-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Identity-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Capegemini SE, Capgemini SE, Centrify Corp. by Delinea, CyberArk Software Ltd., Google LLC, HCL Technologies Limited, IBM Corporation, JumpCloud Inc., Microsoft Corporation, Okta, Inc., OneLogin, Inc., Oracle Corporation, Ping Identity Corp., SailPoint Technologies Inc., and Thales Group.

Identity-as-a-Service Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Identity-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Component
    • Audit, Compliance & Governance
    • Directory Services
    • Multifactor Authentication
    • Password Management
    • Provisioning
    • Single Sign-On
  • Deployment
    • Hybrid
    • Private
    • Public
  • Organization
    • Large Enterprises
    • Small & Medium Enterprises
  • End-use
    • BFSI
    • Education
    • Healthcare
    • Manufacturing
    • Public Sector
    • Telecom & IT

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Identity-as-a-Service Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Identity-as-a-Service Market, by Component
  7. Identity-as-a-Service Market, by Deployment
  8. Identity-as-a-Service Market, by Organization
  9. Identity-as-a-Service Market, by End-use
  10. Americas Identity-as-a-Service Market
  11. Asia-Pacific Identity-as-a-Service Market
  12. Europe, Middle East & Africa Identity-as-a-Service Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 386]
  17. List of Companies Mentioned [Total: 15]
Understanding the Growing Deployment of Hybrid Cloud-Based IDaaS
November 29, 2023
BLOG
Understanding the Growing Deployment of Hybrid Cloud-Based IDaaS
The current landscape of work has changed drastically, and with it, the way we handle identity security, access, and management. More and more companies are adopting cloud-based services to store their data, which has led to a growing deployment of Hybrid Cloud-Based Identity as a Service (IDaaS). IDaaS provides secure access control and offers increased security features, making it the preferred service choice. This blog post explores the growing deployment of Hybrid Cloud-Based IDaaS and what benefits it provides.

What is Hybrid Cloud-Based IDaaS?

Hybrid Cloud-Based IDaaS is a cloud-based service that provides a centralized and secure way of managing access to an organization's data using a hybrid of public and private cloud infrastructure. It offers a user identity and access management system that allows users to access their data anywhere and anytime. Hybrid Cloud-Based IDaaS also provides a solution against security issues such as phishing attacks and identity theft.

Benefits of Hybrid Cloud-Based IDaaS:

One of the primary benefits of Hybrid Cloud-Based IDaaS is its flexibility. It allows IT teams to easily and quickly scale user accounts, reduce costs on IT infrastructure, provide better user experiences, and increase productivity. Hybrid Cloud-Based IDaaS also offers a centralized dashboard that enables managing identities across multiple apps and services, allowing an IT team to organize and change access privileges quickly. Compliance is also much simpler as Hybrid Cloud-Based IDaaS ensures compliance with regulations and standards.

Enhancing Security with IDaaS:

At the core of Identity-as-a-Service is increased security and data accessibility. IDaaS services include multi-factor authentication, Identity Access Management, and Single Sign-On, all working toward the safety goal. Multi-factor authentication provides added layers of security, while Identity Access Management offers a more in-depth approach to access control, monitoring, and authorization. Single Sign-On simplifies the user login experience while operating with the most comprehensive security measures.

The growing deployment of Hybrid Cloud-Based IDaaS offers organizations a secure and flexible way to manage access to their data. IDaaS's benefits vary, from compliance with regulations and standards to increased productivity and scalability. Hybrid Cloud-Based IDaaS provides businesses with a tool that protects their sensitive information and offers a better user experience. IDaaS is undoubtedly beneficial, especially with the surge in the use of cloud devices and the need for better security. Companies that deploy Hybrid Cloud-Based IDaaS will be securing their data and streamlining their IT operations.

Frequently Asked Questions
  1. How big is the Identity-as-a-Service Market?
    Ans. The Global Identity-as-a-Service Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 9.15 billion in 2024.
  2. What is the Identity-as-a-Service Market growth?
    Ans. The Global Identity-as-a-Service Market to grow USD 29.67 billion by 2030, at a CAGR of 21.59%
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