Identity-as-a-Service Market by Component (Audit, Compliance & Governance, Directory Services, Multifactor Authentication), Deployment (Hybrid, Private, Public), Organization, End-use - Global Forecast 2024-2030

[196 Pages Report] The Identity-as-a-Service Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 9.15 billion in 2024, at a CAGR 21.59% to reach USD 29.67 billion by 2030.

Identity as a Service, or IDaaS, is an advanced cloud-based authentication model to streamline identity verification across multiple applications and systems. This revolutionary concept ensures secure access to resources, regardless of where an individual is, the device in use, or the network involved. The advancements in cloud-based technologies, an increase in incidents of identity thefts, and the necessity for enhanced mobility mechanisms may increase the deployment of identity as a service. However, data breach threats, familiarity and comfort with traditional physical identity systems, and privacy concerns of sharing sensitive information may hinder the adoption of identity as a service. Nevertheless, the recent surge in remote work culture has amplified the need for secure access to enterprise applications, heightening the demand for IDaaS solutions. Moreover, Increasingly stringent regulatory policies pertaining to data privacy have augmented the necessity for robust identity and access management solutions. Compliance with these regulations can open new avenues for growth in the IDaaS market.

The Identity-as-a-Service (IDaaS) market is evolving in the Americas owing to the heightened emphasis on regulatory compliance and the rise of cyber threats. Canadian IDaaS market progression is due to strong measures for data security and commitment to cloud infrastructures. GDPR compliance has raised the importance of IDaaS in the European Union, thereby seeing increased investment across the region. The rise of digital transformation in both the Middle East and Africa has raised the need for robust IDaaS solutions. Growing emphasis on biometric and AI-driven identity solutions, stringent data protection laws, and massive potential in fintech, eCommerce, and IT sectors have propelled the use of Identity-as-a-Service (IDaaS) solutions in the APAC region. Besides, advancements in Identity-as-a-Service (IDaaS) to improve efficiency and performance are anticipated to propel their use by the end-use sectors globally.

The market dynamics represent an ever-changing landscape of the Identity-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Increasing demand for digital payments
  • Growing obligations to follow regulatory mandates and data protection laws
  • Rising demand for cloud-based security solutions and services
• Market Restraints
  • Complexities associated with application of identity as a service solution
• Market Opportunities
  • Rising investment on security solutions by government entities and enterprises
  • Growing deployment of hybrid cloud-based IDaaS
• Market Challenges
  • Increase in the number of cyber-attacks, social engineering, phishing activities, and other cyber malpractices

• Component: Growing use of single sign-on (SSO) as it enables users to access multiple applications or websites using one set of login credentials

  Audit, compliance & governance is integral to Identity-as-a-Service (IDaaS) platforms. This component helps enterprises align their IDaaS solutions with regulatory norms and legal mandates. It allows them to analyze and validate these services' effectiveness statistically, assuring efficient audit trails, thus assuring internal and external stakeholders. The directory services component systematically organizes and manages users and resources within an IT ecosystem. IDaaS uses this feature to provide enhanced security and seamless integration, fostering a simple user experience across various protocols such as LDAP, SAML, and others. Multifactor Authentication (MFA) is a cornerstone of advanced IDaaS solutions catering to increased protection. It enhances security by mandating at least two concurrent levels of authentication from independent categories of credentials such as passwords, security tokens, and biometrics. Password management further fortifies the security aspect of an IDaaS system. It includes capabilities such as password complexity requirements, scheduled resets, encryption and storage, and recovery options, all manifest towards reducing credential-based risks while bolstering overall security architecture. Provisioning' refers to the IDaaS function of creating, modifying, or deleting user access rights to enterprise resources. This provision enables efficient system management of user lifecycle and access entitlements, streamlining IT administration and enhancing security control. The single sign-on (SSO) feature enhances user experience by permitting users to access multiple applications or resources with a single set of credentials. This aspect improves user convenience and reduces the probability of password fatigue leading to potential security breaches. These integral components blend into an identity-as-a-service platform, ensuring reliable digital identities, tight security, streamlined administration, and efficient compliance.

• Deployment: Proliferating use of IDaaS in public deployments as it offers high scalability and elasticity

  Hybrid deployment of IDaaS is an optimal solution for those organizations aiming to strike a healthy balance between on-premise security and cloud-based efficiency. A hybrid IDaaS model offers enhanced security and increased control over data by integrating on-premise identity and access management (IAM) infrastructure with a cloud-based system. A private deployment of the IDaaS solution is a private cloud setup within an organization's controlled internal IT infrastructure. This deployment is tailor-made for businesses that desire absolute control over their data security procedures and where regulatory compliance is paramount. Organizations with strict data residency requirements often choose this deployment option. Public deployment of IDaaS utilizes the infrastructure of public cloud providers. This deployment type offers high scalability and elasticity, making it an economical and effective solution for businesses targeting wide accessibility and rapid growth. It is crucial, however, to ensure the chosen public cloud provider has substantial security protocols and systems in place. Data encryption, access control, threat detection, and response mechanisms are critical factors in avoiding potential security risks associated with the public deployment of IDaaS.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Identity-as-a-Service Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Identity-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Identity-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

• Certn Acquires Trustmatic to Expand Its Identity Verification Services

  Certn has acquired Trustmatic, a move to expand its identity verification services through Identity-as-a-Service. This strategic acquisition allows Certn to offer a more secure and automated process for identity verifications. With this integration, Certn is well-positioned to provide a comprehensive and reliable solution for identity verification needs. [Published On: November 07, 2023]

• BIO-key Partners with Ethnos IT Solutions, Expanding the Reach of its Identity and Access Management Solutions Across Africa

  BIO-key has partnered with Ethnos IT Solutions to extend its Identity and Access Management Solutions throughout Africa. This collaboration aims to deliver cost savings, enhance security authentication standards, and provide customer convenience to African nations. This partnership will promote adopting efficient and reliable identity-as-a-service solutions, benefiting African organizations and individuals. [Published On: March 28, 2023]

• Simeio Announces Strategic Acquisition of Identity and Access Management Firm PathMaker Group

  Simeio has announced the strategic acquisition of PathMaker Group, an esteemed firm specializing in identity and access management. This acquisition opens up new avenues for Simeio to enhance its Identity-as-a-Service capabilities. [Published On: January 10, 2023]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Identity-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Identity-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Capegemini SE, Capgemini SE, Centrify Corp. by Delinea, CyberArk Software Ltd., Google LLC, HCL Technologies Limited, IBM Corporation, JumpCloud Inc., Microsoft Corporation, Okta, Inc., OneLogin, Inc., Oracle Corporation, Ping Identity Corp., SailPoint Technologies Inc., and Thales Group.

This research report categorizes the Identity-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Component
  • Audit, Compliance & Governance
  • Directory Services
  • Multifactor Authentication
  • Password Management
  • Provisioning
  • Single Sign-On
• Deployment
  • Hybrid
  • Private
  • Public
• Organization
  • Large Enterprises
  • Small & Medium Enterprises
• End-use
  • BFSI
  • Education
  • Healthcare
  • Manufacturing
  • Public Sector
  • Telecom & IT

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?