Dublin, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The "IDaaS Market by Component (Provisioning, Single Sign-On, Advanced authentication, Audit, Compliance, and Governance, Directory service, and Password management), Organization Size, Deployment Type, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global IDaaS market size is estimated to be USD 5.6 billion in 2022 and is projected to reach USD 16.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 24.7% during the forecast period.
Some factors driving the market growth include government initiatives and regulations supporting digital identity transformation, government regulations and the need for compliance, and the rise in identity and authentication frauds. However, Businesses' reluctance to adopt cloud-based security and lack of information security of consumer data is expected to hinder the market growth.
By Organization size, SMEs to grow at the highest CAGR during the forecasted period
Small and medium-sized businesses (SMEs) from a variety of industries are going through a digital transformation and using cloud computing to achieve low operational costs, increase mobility, capital expenditure advantages, and get rid of on-premises technology. Intruders use automated techniques to attack SMEs' networks in order to take advantage of their weak security infrastructures.
Therefore, in order to save money, time, and resources, SMEs are seeking cybersecurity solutions like IDaaS, which may shield their company from cybersecurity damage. Additionally, governments are acting to safeguard SMEs in their own nations. SMEs are vulnerable to new security problems as they implement digitalization at an increasing rate. As a result, the IT departments of SMEs make investments in implementing advanced security solutions like IDaaS. Thus, the SMEs are to grow at the highest CAGR during the forecasted period.
By Vertical, the BFSI vertical account for a larger market size during the forecasted period.
By incorporating the use of cutting-edge technologies like AI, machine learning, cloud computing, and blockchain, the BFSI sector is undergoing technological advancement. Customers are searching for convenience in services like e-banking and mobility which is driving digitalization in the BFSI sector.
Although it has proven to be incredibly easy for consumers, this has also led to an increase in ransomware, identity fraud, data theft, and other cybercrimes. Thus, in order to protect its system from cyberattacks and secure its clients' sensitive data, the BFSI vertical is increasingly adopting security solutions like IDaaS. This has led the BFSI vertical to account for a larger market size during the forecasted period.
By Organization size, large enterprises to grow at the highest Market size during the forecasted period
Large enterprises are more likely to adopt IDaaS solutions as a result of huge budgets implementing top- notch security solutions and the strong demand for real-time auditing and monitoring of the growing IoT traffic. Due to a surge in identity theft and data breaches, large organizations are at high risk of any cyber attack.
Therefore to protect their brand image and to maintain the trust of their long-term clients it has become crucial for them to implement cybersecurity solutions like IDaaS at a rapid rate. The IT department in large enterprises has a lot of responsibilities other than managing the organization's security and therefore IDaaS solutions come to the rescue as they reduce the burden of responsibilities including compliance, policies and governance. This in turn helps the large enterprises to also concentrate on their other responsibilities efficiently. Thus, large enterprises are anticipated to grow at the highest market size during the forecasted period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Identity as a Service Market
4.2 Market, by Component
4.3 Market, by Deployment Mode
4.4 Market, by Organization Size
4.5 Market Share of Top Three Verticals and Regions
4.6 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Initiatives and Regulations to Support Digital Identity Transformation
5.2.1.2 Government Regulations and Need for Compliance to Drive Adoption of IDaaS
5.2.1.3 Rise in Identity and Authentication Frauds
5.2.2 Restraints
5.2.2.1 Reluctance of Organizations to Adopt Cloud-Based Security
5.2.2.2 Lack of Information Security of Consumer Data
5.2.3 Opportunities
5.2.3.1 Rising Trend of Cost Shift and Complexity Reduction
5.2.3.2 Integration of Ai, Ml, and Blockchain Technologies to Enhance Digital Identities
5.2.3.3 Adopting Advanced Authentication Techniques Across Verticals
5.2.4 Challenges
5.2.4.1 Outsourcing Critical Applications
5.2.4.2 Ownership and Privacy Challenges
5.3 Use Cases
5.3.1 Use Case 1: Optimal Idm Helped Large Beverage Retailers with Dedicated Private IDaaS Offering
5.3.2 Use Case 2: Thales Group Helped a Major Telecom Operator with Digital Identity Platform Setup
5.3.3 Use Case 3: Loginradius Helped Its Client Establish Iam Solutions
5.4 Value Chain Analysis
5.5 Market Ecosystem
5.6 Porter's Five Forces Analysis
5.7 Pricing Analysis
5.8 Technology Analysis
5.9 Patent Analysis
5.10 Trends and Disruptions Impacting Customer's Business
5.11 Regulatory Landscape
5.12 Key Stakeholders and Buying Criteria
5.13 Key Conferences and Events in 2022-2023
6 Identity as a Service Market, by Component
6.1 Introduction
6.2 Provisioning
6.2.1 Automation of Identity Lifecycle Management to Drive Growth
6.2.2 Provisioning: Market Drivers
6.3 Single Sign-On
6.3.1 Ease of Passwordless Authentication to Boost Single Sign-On Implementation
6.3.2 Single Sign-On: Identity as a Service Market Drivers
6.4 Advanced Authentication
6.4.1 Multiple Validation Checks and Growing Need for Risk Based Validation to Boost Growth
6.4.2 Advanced Authentication: Market Drivers
6.5 Audit, Compliance, and Governance
6.5.1 Improved E-Kyc, Digital Onboarding, and Identity Governance
6.5.2 Audit, Compliance, and Governance: Market Drivers
6.6 Directory Services
6.6.1 Directory Services to Improve Adap and Ldap Implementation
6.6.2 Directory Services: Identity as a Service Market Drivers
6.7 Password Management
6.7.1 Growing Need for Encryption to Drive Growth
6.7.2 Password Management: Market Drivers
7 Identity as a Service Market, by Deployment Type
7.1 Introduction
7.2 Public Cloud
7.2.1 Lower Cost, No Maintenance, and High Scalability
7.2.2 Public Cloud: Market Drivers
7.3 Private Cloud
7.3.1 High Deployement Control and Self Compliant to Reduce Risk
7.3.2 Private Cloud: Identity as a Service Market Drivers
7.4 Hybrid Cloud
7.4.1 Offers Control and Flexibility Along with Cost Effectiveness
7.4.2 Hybrid Cloud: Market Drivers
8 Identity as a Service Market, by Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises (SMEs)
8.2.1 Cloud Hosting Services Empower Organizations to Host Applications
8.2.2 Small and Medium-Sized Enterprises: Market Drivers
8.3 Large Enterprises
8.3.1 Emergence of Digital Banking Channels and E-Commerce to Trigger Investments
8.3.2 Large Enterprises: Market Drivers
9 Identity as a Service Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance (Bfsi)
9.2.1 Cloud Hosting to Develop Customer-Centric Business Models
9.2.2 Bfsi: Market Drivers
9.3 Information Technology (It) and Information Technology-Enabled Services (Ites)
9.3.1 Investment in New Identity Technologies to Drive Ites Segment
9.3.2 It and Ites: Market Drivers
9.4 Energy and Utilities
9.4.1 Cloud Software Applications to Enhance Productivity and Efficiency
9.4.2 Energy and Utilities: Identity as a Service Market Drivers
9.5 Government
9.5.1 Need for Processing Large Unstructured Data and Storage to Accelerate Adoption of IDaaS
9.5.2 Government: Market Drivers
9.6 Manufacturing
9.6.1 Migration of Applications to Cloud Environment Enables Manufacturers to Adopt Smart Manufacturing Technologies
9.6.2 Manufacturing: Market Drivers
9.7 Healthcare
9.7.1 Healthcare: Identity as a Service Market Drivers
9.8 Retail and Consumer Goods
9.8.1 Retail and Consumer Goods: Market Drivers
9.9 Other Verticals
10 Identity as a Service Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Revenue Analysis of Leading Players
11.4 Market Share Analysis of Top Market Players
11.5 Historical Revenue Analysis
11.6 Ranking of Key Players
11.7 Key Company Evaluation Matrix
11.7.1 Key Company Evaluation Matrix (Definitions and Methodology)
11.7.2 Stars
11.7.3 Emerging Leaders
11.7.4 Pervasive Players
11.7.5 Participants
11.8 Competitive Benchmarking
11.8.1 Evaluation Criteria of Key Companies
11.9 Startup/Sme Evaluation Matrix
11.9.1 Progressive Companies
11.9.2 Responsive Companies
11.9.3 Dynamic Companies
11.9.4 Starting Blocks
11.10 Competitive Scenario
11.10.1 Product/Solution Launches
11.10.2 Deals
12 Company Profiles
12.1 Key Players
12.1.1 Okta
12.1.2 Cyberark
12.1.3 Thales
12.1.4 Microsoft
12.1.5 Ping Identity
12.1.6 Onelogin
12.1.7 IBM
12.1.8 Oracle
12.1.9 Google
12.1.10 Sailpoint
12.1.11 Jumpcloud
12.1.12 Secureauth
12.1.13 Auth0
12.1.14 Opentext
12.1.15 IlantUS
12.1.16 LoginradiUS
12.1.17 Delinea
12.1.18 Optimal Idm
12.1.19 Fischer Identity
12.2 Other Players
12.2.1 Atos
12.2.2 Avatier
12.2.3 Simeio Solutions
12.2.4 Hcl
12.2.5 Capgemini
12.2.6 Broadcom
12.2.7 Salesforce
12.2.8 Jumio
12.2.9 Signicat
12.2.10 Ubisecure
12.2.11 Empowerid
13 Adjacent Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/uq1rrx
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