Identity As A Service Market Size, Share, Growth Analysis, By Type (Single Sign-On, Multifactor Authentication, Provisioning, Password Management), By Deployment(Public cloud, Private cloud, Hybrid cloud), By Industry Vertical(BFSI, IT & ITeS, Manufacturing, Government), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45B2144 | Region: Global | Published Date: October, 2024
Pages: 171 |Tables: 99 |Figures: 71

Identity As A Service Market Insights

Global Identity as a Service Market size was valued at USD 7.2 Billion in 2022 and is expected to grow from USD 9.01 Billion in 2023 to reach USD 43.47 Billion by 2031, at a CAGR of 25.2% during the forecast period (2024-2031).

Growing emphasis on security in the wake of surging cyberattacks and evolving threat landscape is projected to bolster the demand for identity as a service in the future. Rapidly increasing digital transformation around the world and growing popularity of remote work around the world are also forecasted to continue to bolster the demand for identity as a service over the coming years. Increasing availability of software as a service model and high use of cloud technologies and platforms are also expected to create new business scope for identity as a service providers in the future. High investments in migration towards cloud platforms to improve profitability will also create new opportunities for identity as a service companies in the long run. Developed countries with established technology infrastructure and stringent data privacy and security mandates are slated to spearhead the adoption of identity as a service in the future. On the contrary, challenges in integration, performance and latency issues in systems, and lack of awareness are some major constraints that are expected to slow down the adoption of identity as a service in the long run.

Market Snapshot - (2024-2031)

Global Market Size

Largest Segment

Fastest Growth

Growth Rate

CAGR

Global Identity As A Service Market ($ Bn)
Country Share for North America Region (%)

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Identity As A Service Market Segmental Analysis

The global identity as a service market is segmented based on type, deployment, industry vertical, and region. In terms of type, the market is bifurcated into single sign-on, multifactor authentication, provisioning, password management, directory services, audit, and compliance & governance. Based on deployment, the market is divided into public cloud, private cloud, and hybrid cloud. In terms of industry vertical, the market is segmented into BFSI, IT & ITeS, Manufacturing, Government, Telecom, Energy and Utilities, Healthcare, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.

Analysis by Type

Single sign on is projected to account for a dominant share of the global identity as a service market. The need for easy and secure access in multiple organizations is increasing rapidly and single sign on identity as a service provide just that, which has helped them gather a substantial share in this market. Single sign-on allows users to access multiple platforms and applications using a single set of secure credentials thereby helping in lowering the risk of phishing significantly for all users. Use of single sign on with multi factor authentication is a key trend that is expected to help this segment maintain its dominance through 2031.

Meanwhile, the demand for multifactor authentication is forecasted to increase at a robust pace across the forecast period and beyond. The growing complexity and sophistication of cyberattacks have led to a high demand for multiple layers of security in the digital world. Rising use of multifactor authentication identity as a service solutions in multiple industry verticals to enhance their digital asset security is expected to create robust new opportunities for all market players via this segment going forward. Use of multifactor authentication identity as a service solutions also helps in improving customer trust thereby also promoting the brand image.

Analysis by Deployment

Public cloud is forecasted to be used extensively for identity as a service around the world thereby helping it hold a major chunk of the global market share. High affordability, ease of deployment, and easy scalability are some key benefits of public cloud-based identity as a service allowing this segment to maintain its dominant market share. Use of public cloud for identity as a service also helps in reducing the initial investment for users as they do not need to invest in the development of a massive infrastructure for the same, another factor helping this segment maintain its high market share.

Meanwhile, the demand for hybrid cloud identity as a service is forecasted to increase at an impressive pace across the study period and beyond. Growing awareness regarding the benefits of hybrid cloud with them offering best of public and private cloud deployments is estimated to primarily help this segment create new opportunities for identity as a service providers in the future. Moreover, increasing inclination of organizations to deploy hybrid cloud-based identity as a service models will also help this segment boost revenue generation for the market going forward.

Global Identity As A Service Market By Deployment

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Identity As A Service Market Regional Insights

North America is estimated to account for a substantial share of the global identity as a service market. Growing adoption of remote work, presence of a developed technology infrastructure, and quick adoption of advanced technologies allow this region to hold sway over others. The United States is estimated to bring in the most revenue for identity as a service companies in this region followed by Canada. The presence of a strong regulatory framework and rising incidence of sophisticated cyberattacks are also helping this region maintain its dominance. Moreover, an upsurge in remote workers in North America from around the world is also expected to create new opportunities for identity as a service providers going forward.

Meanwhile, the demand for identity as a service in Asia Pacific is slated to rise at a robust CAGR over the coming years. Rapidly increasing digital transformation, growing awareness regarding cyberattacks, and high adoption of cloud technologies are estimated to create an opportune setting for identity as a service providers in this region. Japan, China, and India are slated to be the most lucrative markets for almost all identity as a service companies in the long run. Rising number of mobile devices, growing proliferation of internet, and imposition of strict data safety and privacy mandates are also expected to create new opportunities for identity as a service companies operating in the Asia Pacific going forward.

Global Identity As A Service Market By Region
  • Largest
  • Fastest

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Identity As A Service Market Dynamics

Drivers

Rising Incidence of Cyberattacks

  • High prevalence of data breaches and cyberattacks around the world owing to increasing complication of viruses and threats has led to a high demand for better security. Identity as a service solution helps fend off cyberattacks and improve the security of organization and consumer data. This increase in cyberattacks is primarily promoting identity as a service demand.

Rise of Remote Work

  • The number of remote workers around the world has increased rapidly after the COVID-19 pandemic of 2020 and the remote work trend is only getting more prominent. Providing better and secure access to an organization’s assets for all these remote workers is crucial for the success of this trend thereby creating high demand for identity as a service and other digital security measures.

Restraints

Complexity in Integration

  • Deploying and integrating identity as a service solutions with legacy IT infrastructure could be a very challenging task. These solutions are highly advanced and require a certain set of hardware and software to successfully integrate with other IT components. These challenges in integration could slow down identity as a service market growth potential.

Lack of Awareness

  • Awareness regarding benefits and use of identity as a service is quite limited as of now, especially in developing countries. This has reduced the scope of application for identity as a service across multiple parts of the world. Creating awareness regarding the benefits of identity as a service will be crucial in overcoming this constraint for all identity as a service providers in the future.

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Identity As A Service Market Competitive Landscape

Identity as a service providers should focus on simplifying the integration and deployment process of their solutions to improve their business scope. Creating awareness regarding the benefits of identity as a service and improving scope of integration with legacy infrastructure will help market players maximize their revenue generation in developing countries. Collaborations will also be essential for companies to looking to fast-track their development processes and maximize revenue generation in the long run.

Top Player’s Company Profiles

  • Salesforce Inc.
  • OneLogin
  • Broadcom
  • SecureAuth
  • Microsoft CORPORATION
  • CyberArk
  • Evdian
  • ForgeRock
  • Okta Inc.
  • One Identity LLC
  • IBM CORPORATION
  • ORACLE CORPORATION
  • HID Global
  • McAfee
  • Ping Identity

Recent Developments

  • In December 2023, a new identity as a service was launched by GuidePoint Security. The new solution was intended to help organizations simplify and manage their resources to ensure maximum productivity and security as well. GuidePoint will utilize its identity and access management experts to create custom solutions as per an organization’s needs and requirements.
  • In October 2022, Atos, a leading name in the digital transformation space based in France, announced the launch of its new identity security offering. The new Evidian IDaaS Access & Governance was launched as an extension to Atos’s already extensive identity and access management offering portfolio.
  • In October 2021, Equifax, a top company in credit reporting launched its new digital identity as a service offering. Along with this the company also announced its partnership with Bonifii making it the prime user of the newly launched identity as a service solution.

Identity As A Service Key Market Trends

  • Zero Trust Approach: Identity as a service vendors can focus on developing new solutions that utilize the zero trust approach that has been gaining massive popularity in the world of digital security. This approach is highly beneficial for identity as a service companies looking to maximize their business in a remote-first and cloud-driven work environment.
  • Decentralization of Identity Security: Use of blockchain and other Web 3.0 technologies to decentralize identity management and security is forecasted to be a major trend as the demand for novel security solutions rises. Increasing emphasis on decentralization of security to improve data privacy guard enterprise assets will help create new opportunities for companies working on the decentralization trend.

Identity As A Service Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per Skyquest analysis, rising incidence of data breaches and cyberattacks and increasing number of remote workers are forecasted to drive up the demand for identity as a service over the coming years. However, dearth of skilled professionals and challenges in integration are expected to slow down identity as a service market growth potential in the future. Quick adoption of advanced technologies and imposition of strict data privacy and security mandates help North America account for a dominant market share. Use of decentralized and zero trust approaches will help identity as a service companies to stand out from the competition and boost revenue generation in the long run.

Report Metric Details
Market size value in 2022 USD 7.2 Billion
Market size value in 2031 USD 43.47 Billion
Growth Rate 25.2%
Base year 2023
Forecast period (2024-2031)
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Single Sign-On, Multifactor Authentication, Provisioning, Password Management, Directory Services, Audit, Compliance & Governance
  • Deployment
    • Public cloud, Private cloud, Hybrid cloud
  • Industry Vertical
    • BFSI, IT & ITeS, Manufacturing, Government, Telecom, Energy and Utilities, Healthcare, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Salesforce Inc.
  • OneLogin
  • Broadcom
  • SecureAuth
  • Microsoft CORPORATION
  • CyberArk
  • Evdian
  • ForgeRock
  • Okta Inc.
  • One Identity LLC
  • IBM CORPORATION
  • ORACLE CORPORATION
  • HID Global
  • McAfee
  • Ping Identity
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Identity As A Service Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Identity As A Service Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Identity As A Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Identity As A Service Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Identity As A Service Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Identity As A Service Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Identity as a Service Market size was valued at USD 7.2 Billion in 2022 and is expected to grow from USD 9.01 Billion in 2023 to reach USD 43.47 Billion by 2031, at a CAGR of 25.2% during the forecast period (2024-2031).

Identity as a service providers should focus on simplifying the integration and deployment process of their solutions to improve their business scope. Creating awareness regarding the benefits of identity as a service and improving scope of integration with legacy infrastructure will help market players maximize their revenue generation in developing countries. Collaborations will also be essential for companies to looking to fast-track their development processes and maximize revenue generation in the long run. 'Salesforce Inc.', 'OneLogin', 'Broadcom', 'SecureAuth', 'Microsoft CORPORATION', 'CyberArk', 'Evdian', 'ForgeRock', 'Okta Inc.', 'One Identity LLC', 'IBM CORPORATION', 'ORACLE CORPORATION', 'HID Global', 'McAfee', 'Ping Identity'

High prevalence of data breaches and cyberattacks around the world owing to increasing complication of viruses and threats has led to a high demand for better security. Identity as a service solution helps fend off cyberattacks and improve the security of organization and consumer data. This increase in cyberattacks is primarily promoting identity as a service demand.

Zero Trust Approach: Identity as a service vendors can focus on developing new solutions that utilize the zero trust approach that has been gaining massive popularity in the world of digital security. This approach is highly beneficial for identity as a service companies looking to maximize their business in a remote-first and cloud-driven work environment.

North America is estimated to account for a substantial share of the global identity as a service market. Growing adoption of remote work, presence of a developed technology infrastructure, and quick adoption of advanced technologies allow this region to hold sway over others. The United States is estimated to bring in the most revenue for identity as a service companies in this region followed by Canada. The presence of a strong regulatory framework and rising incidence of sophisticated cyberattacks are also helping this region maintain its dominance. Moreover, an upsurge in remote workers in North America from around the world is also expected to create new opportunities for identity as a service providers going forward.

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