Enhancing Digital Security: The Expanding Landscape of Identity as a Service (IDaaS) Market Solutions

The market is experiencing significant growth, primarily driven by growing number of cybersecurity breaches and identity-related fraud.

WILMINGTON, DE, UNITED STATES, February 5, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Enhancing Digital Security: The Expanding Landscape of Identity as a Service (IDaaS) Market Solutions." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global identity as a service market size was valued at $6.2 billion in 2023, and is projected to reach $54.1 billion by 2032, growing at a CAGR of 27.5% from 2024 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 337 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A14707

The identity as a service market is expected to witness notable growth owing to an increase in the number of identity frauds, increase in the adoption of cloud computing and other connected technologies, and enhanced integration with IoT devices. Moreover, the integration of evolving technologies is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, data privacy issues involving consumer information and critical application outsourcing limit the growth of the identity as a service market.

The global identity as a service market size is segmented on the basis of component, enterprise size, deployment type, industry vertical, and region. On the basis of component, it is segregated into provisioning, single-sign-on, advanced authentication, audit, compliance and governance, directory services, and password management. On the basis of enterprise size, it is segregated into large enterprises and SMEs. On the basis of deployment type, it is segregated into public cloud, private cloud, and hybrid cloud. On the basis of industry vertical, it is segregated into BFSI, IT and telecom, energy and utilities, government, manufacturing, healthcare, retail and consumer goods, and others. On the basis of region, it is divided into North America, Europe, Asia-Pacific, and LAMEA.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A14707

By component, the provisioning segment held the highest market share in 2023, accounting for more than one-fourth of the identity as a service market revenue, and is estimated to maintain its leadership status throughout the forecast period. The growing need for a high level of automation is one of the primary reasons enterprises are increasing their investment in identity provisioning solutions. However, the single-sign-on segment is expected to witness the largest CAGR of 31.3% from 2024 to 2032 and is projected to maintain its lead position during the forecast period.

By deployment type, the public segment accounted for the largest share in 2023, contributing to more than two-fifths of the identity as a service market revenue, an increase in the need for secure and reliable data within the organization is fueling the market growth for public cloud-based identity as a service solution. However, the private segment is expected to portray the largest CAGR of 30.1% from 2024 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A14707

By region, North America held the highest market share in terms of revenue in 2023, accounting for more than one-third of the identity as a service market revenue. The increase in the usage of identity as a service solution in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, Asia-Pacific is projected to manifest the highest CAGR of 31.1% from 2024 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.

Competitive analysis and profiles of the major players in the CyberArk, Google LLC, IBM Corporation, Microsoft Corporation, Okta, OneLogin, Inc., Oracle Corporation, JumpCloud, Inc., SailPoint Technologies, and Thales. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the identity as a service market globally.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (337 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/identity-as-a-service-market/purchase-options

KEY FINDINGS OF THE STUDY

● By component, the provisioning segment accounted for the largest identity as a service market share in 2023.
● By deployment type, the public cloud segment accounted for the largest identity as a service market share in 2023.
● By enterprise size, the large enterprises segment accounted for the largest identity as a service market share in 2023.
● By industry vertical, the IT & telecom segment accounted for the largest identity as a service market share in 2023.
● Region-wise, North America generated the highest revenue in 2023.

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𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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