Identity As A Service Market Updates

Identity As A Service Market size was valued at USD 9.01 Billion in 2023 and is poised to grow from USD 11.28 Billion in 2024 to USD 54.42 Billion by 2032, growing at a CAGR of 25.2% during the forecast period (2025-2032).

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. 'Okta ', 'Microsoft ', 'Thales Group ', 'IBM ', 'Atos ', 'Oracle ', 'Salesforce ', 'Google ', 'CyberArk ', 'OpenText ', 'HCLTech ', 'Simeio ', 'Ilantus Technologies ', 'LoginRadius ', 'JumpCloud ', 'IDnow ', 'One Identity ', '1Kosmos ', 'Idenfy ', 'ShareID'

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.