IDaaS Market Research Report: Information by Component (Provisioning, Single Sign-On, Advanced authentication, Audit, Compliance, and Governance, Directory service, and Password management), Deployment Type, Vertical and Region - Global Forecast till 2030

IDaaS Market Forecast

The global IDaaS market size is estimated to be worth USD 16.8 billion by 2030, registering a CAGR of 24.7 % during the forecast period (2022 - 2030)

The global IDaaS market is segmented into Component, Organization Size, Deployment Type, Vertical and Region.

Based on Component Type, the global IDaaS market is segmented into Single Sign-On, Multifactor Authentication, Provisioning, Password Management, Directory Services, Audit, and Compliance & Governance. Based on Deployment Mode, the global IDaaS market is segmented into Public, Private, and Hybrid. Based on Verticals, the global IDaaS market is segmented into BFSI, IT and ITeS, Energy and Utilities, Government, Manufacturing, Healthcare, Retail and Consumer goods, and Others. Based on Region, the global IDaaS market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

COVID-19 Analysis

The epidemic has pushed digital business and raised the demand for boards with a strong digital presence. Due to the COVID-19 pandemic, businesses around the world had seen a 37% increase in cybersecurity attacks, including data breaches, money laundering, identity theft, ransomware, and many others. As a result, they adopted cutting-edge security solutions like IDaaS to streamline their corporate governance and disclosures, workplace health and safety, data privacy, supply chain, and working capital, which are affected. Innovative antivirus solutions have become crucial in the recent COVID-19 crisis to enable live streaming eLearning, and more throughout the day as everyone is working from home. Companies like Accenture are offering online compliance and risk training to help enterprises tackle business disruptions caused by COVID-19. The continued advantages of antiviral technology in expanding a Wi-Fi footprint to accommodate the increasing demand for internet access fuel the market's expansion for IDaaS solutions. The adoption of the cloud has accelerated due to COVID-19, and as a result, risks and dangers have changed. Security solutions like IDaaS are becoming more popular, and this trend is anticipated to continue during the projection period.

Market Dynamics

Drivers

• Increasing number of identity and authentication frauds

Organizations across all industries face a constant threat from cybercrimes on critical applications and infrastructures. The sophistication of cyberattacks increases daily. A company claims that worldwide, fraud costs it about 5% of its total yearly sales. The total annual revenue loss for businesses was projected to be USD 4.2 trillion in 2019. Threats may be from the outside world or from within the company, like a rogue employee. These hacks could cause business interruptions, data breaches, and financial losses. Corporations have significant financial difficulties because of these earnings, and their reputations are frequently put at risk. These frauds, which result in payment stoppage, bank account fraud, and deteriorated service, have the potential to harm client relationships and erode confidence. In addition to reputational harm and financial losses, businesses often suffer indirect costs including a drop in productivity, low staff morale, and a deterioration of the brand image. As a result of the growing threat of cyberattacks, identity management now plays a key role in an organization's IT operations.

Restraint

• Consumer data lacks information security

Applications for banking are used by a sizable portion of people worldwide. A serious issue arises when user privacy is infringed or violated in the banking industry. Modern technologies for information and physical security have already been adopted by the BFSI industry. Concerns over unsecured endpoints, such as desktops, laptops, and mobile devices, are related to the expansion of the internal and external user populations as well as the amount and complexity of transactional activity. Since they provide easy access that may be utilized for numerous attack routes, these endpoints are the primary targets of cyberattacks. As a result, users are unaware of sophisticated threats and critical system flaws. Customers must be informed about the protection of their data through frequent communication from businesses. Therefore, better solutions are required to build an organization's security architecture.

Opportunities

• Enhancing digital identities through the combination of AI, machine learning, and blockchain technologies

It's becoming more popular to combine cutting-edge technologies like blockchain, artificial intelligence, and machine learning. Automated systems are replacing the personnel, which minimizes the potential effects. These developments enable automated generation of analytical models and the discovery of hidden insights by computers without explicit programming. Massive volumes of data and access-related behaviours can be analyzed by vendors of IDaaS systems using ML-based analytics. Lowering identity attack surfaces is made possible by carefully tracking and reporting on a user account's application, department, and organizational risk posture. The visibility of anomaly processes also makes it easier to build risk-based access certificates, which aid in identifying and authentication operations. These methods are now being used by several businesses, including the BFSI, the automobile, and the government. It helps businesses plan their strategic and corrective measures. Therefore, it is projected that using technology would offer IDaaS organizations several development options.

Segment Overview

Based on Component Type, the global IDaaS market is segmented into Single Sign-On, Multifactor Authentication, Provisioning, Password Management, Directory Services, Audit, and Compliance & Governance.

Based on Deployment Mode, the global IDaaS market is segmented into Public, Private, and Hybrid.

Based on Verticals, the global IDaaS market is segmented into BFSI, IT and ITeS, Energy and Utilities, Government, Manufacturing, Healthcare, Retail and Consumer goods, and Others.

Regional Analysis

Based on Region, the global IDaaS market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The market for identification as a service (IDaaS) is dominated by North America due to the rise in security concerns and data breaches. The growth of the identity as a service (IDaaS) market in the area would be further boosted during the projected period by the rising number of cyberattacks to get access to private consumer data and the growing adoption of cloud applications.

Competitive Landscape

The key industry players are adopting various business strategies such as significant investments in marketing activities to increase their market presence and expand their product portfolio thereby, driving the global IDaas market. In addition, the market players are adopting several strategic initiatives such as new product launches, mergers & acquisitions, contractual agreements, increasing investments, and collaboration with other players to expand their global footprint.

List of companies covered in this report:

• Okta (US)


• CyberArk (US)


• Thales (France)


• Microsoft (US)


• Ping Identity (US)


• OneLogin (US)


• IBM (US)


• Oracle (US)


• Google (US)


• SailPoint (US)


• JumpCloud (US)


• SecureAuth (US)


• Auth0 (US)


• OpenText (Canada)


• Ilantus (US)


• LoginRadius (Canada)


• Delinea (US)


• Optimal IdM (US)


• Fischer Identity (US)


• Atos (France)


• Avatier (US)


• Simeio Solutions (US)


• HCL (India)


• Capgemini (France)


• Broadcom (US


• Salesforce (US)


• Jumio (US)


• Signicat (Norway)


• Ubisecure (UK)


• EmpowerID (US)

Recent Developments

In June 2022- IBM improved their product, IBM Security Venty Governance V10 0 1 Fix Pack 1, to provide businesses with a single platform to assess, categorize, and control access risks. This solution makes use of business-centric rules, actions, and procedures to give line of business managers, auditors, and risk managers the ability to regulate access and evaluate regulatory compliance across company applications and services.

In May 2022-Microsoft introduced Microsoft Entra, a new product. Microsoft Entra Permissions Management is a programme designed to provide users and workload identities with access to information about permissions. To apply the principle of least privilege and to maintain a top-down view of identities across all cloud services, including Microsoft Azure, Amazon Web Services, and Google Cloud Platform, it enables security teams a mechanism to identify unused and unnecessary nights more effectively.

Report Overview

The study covers the existing short-term and long-term market effects. It helps decision-makers to draught short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.

Study Objectives

• To provide a detailed analysis of the market structure and forecast for the next 8 years of the various segments and sub-segments of the global IDaas market.


• To provide insights about factors affecting the market growth.


• To analyze the global IDaas market based on various factors- price analysis, supply chain analysis, Porter's five force analysis, etc.


• To provide historical and forecast revenues of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia-Pacific, and the Rest of the World.


• To provide country-level analysis of the market with respect to the current market size and future prospective.


• To provide country-level analysis of the market for segments by type, organization size, and industry vertical.


• To provide strategic profiling of key players in the market, comprehensively analyze their core competencies, and draw a competitive market landscape.


• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and R&D in the global IDaas market.

Market Segmentation

Component Type

• Single Sign-On


• Multifactor Authentication


• Provisioning


• Password Management


• Directory Services


• Audit, Compliance & Governance

By Deployment Mode

• Public


• Private


• Hybrid

By Vertical

• BFSI


• IT and ITeS


• Energy and Utilities


• Government


• Manufacturing


• Healthcare


• Retail and Consumer goods


• Others

 By Region

• North America


• Europe


• Asia Pacific


• Middle East and Africa


• South America