Identity-as-a-Service Market by Component, Deployment, Organization, End-use

List of Tables

[186 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.54 billion
Estimated Year [2024]	USD 9.15 billion
Forecast Year [2030]	USD 29.67 billion
CAGR (%)	21.59%

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.

Organization: High usage of identity-as-a-service (IDaaS) in large enterprises

In large enterprises, identity-as-a-service (IDaaS) has rapidly become instrumental to the security strategy. IDaaS can efficiently manage user access across a broad spectrum of applications by offering centralized and simplified identity management. Large enterprises managing thousands of employee credentials and applications can benefit from IDaaS's automated, scalable, and smart solutions. They can delegate the heavy lifting of identity and access management to dedicated cloud-based services. Small & Medium Enterprises (SMEs) can leverage IDaaS solutions to aid in the secure exchange of user identities in multi-domain environments, reduce IT overhead, and reduce days spent on integrations. The need for cost-efficient and user-friendly identity management systems makes IDaaS particularly attractive to SMEs.

End-use: Increasing utilization of identity-as-a-service across the banking, financial services, and insurance (BFSI) sector

The Banking, Financial Services, and Insurance (BFSI) sector is increasingly adopting identity-as-a-service (IDaaS) to amplify security. It provides risk-based authentication for benign transactions and delivers a secure customer experience. By integrating IDaaS, sensitive data is protected from fraud and identity theft. IDaaS in the Education sector paves the way for ingenious learning methodologies. IDaaS offers effective identity management protocols to secure the user data of both staff and students. With its seamless integration, educational institutions can implement digital transformation strategies more effectively and securely. In Healthcare, the security of patient data is paramount. IDaaS plays a crucial role in validating patients' identities and assisting in providing customized care. IDaaS solutions help healthcare providers maintain the confidentiality and integrity of data by fulfilling security compliance requirements. In the Manufacturing sector, IDaaS enables secure business operations by controlling the access to sensitive data and systems. The practical application of IDaaS ensures authorized and compliant access to data, thereby raising the sector's standard of data security, accountability, and traceability. The public sector employs IDaaS to strengthen transparency and safety measures while enhancing public services' efficiency. IDaaS ensures the secure authentication of users and prevents unauthorized activities, thereby enabling data protection and privacy, which are essential to maintaining public trust. Telecommunication and information technology sectors profit tremendously from IDaaS. IDaaS fortifies security by managing and authenticating user access across multiple IT systems. It aids in mitigating cyber threats and helps companies safeguard their data integrity without compromising operational speed.

Regional Insights

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Identity-as-a-Service Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Identity-as-a-Service Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

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.

Market Segmentation & Coverage

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Identity-as-a-Service Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Identity-as-a-Service Market?

3. What are the technology trends and regulatory frameworks in the Identity-as-a-Service Market?

4. What is the market share of the leading vendors in the Identity-as-a-Service Market?

5. Which modes and strategic moves are suitable for entering the Identity-as-a-Service Market?

Product Code: MRR-710B1F0ABFBA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for digital payments
  - 5.1.1.2. Growing obligations to follow regulatory mandates and data protection laws
  - 5.1.1.3. Rising demand for cloud-based security solutions and services
- 5.1.2. Restraints
  - 5.1.2.1. Complexities associated with application of identity as a service solution
- 5.1.3. Opportunities
  - 5.1.3.1. Rising investment on security solutions by government entities and enterprises
  - 5.1.3.2. Growing deployment of hybrid cloud-based IDaaS
- 5.1.4. Challenges
  - 5.1.4.1. Increase in the number of cyber-attacks, social engineering, phishing activities, and other cyber malpractices
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing use of single sign-on (SSO) as it enables users to access multiple applications or websites using one set of login credentials
- 5.2.2. Deployment: Proliferating use of IDaaS in public deployments as it offers high scalability and elasticity
- 5.2.3. Organization: High usage of identity-as-a-service (IDaaS) in large enterprises
- 5.2.4. End-use: Increasing utilization of identity-as-a-service across the banking, financial services, and insurance (BFSI) sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Identity-as-a-Service Market, by Component

6.1. Introduction
6.2. Audit, Compliance & Governance
6.3. Directory Services
6.4. Multifactor Authentication
6.5. Password Management
6.6. Provisioning
6.7. Single Sign-On

7. Identity-as-a-Service Market, by Deployment

7.1. Introduction
7.2. Hybrid
7.3. Private
7.4. Public

8. Identity-as-a-Service Market, by Organization

8.1. Introduction
8.2. Large Enterprises
8.3. Small & Medium Enterprises

9. Identity-as-a-Service Market, by End-use

9.1. Introduction
9.2. BFSI
9.3. Education
9.4. Healthcare
9.5. Manufacturing
9.6. Public Sector
9.7. Telecom & IT

10. Americas Identity-as-a-Service Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Identity-as-a-Service Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Identity-as-a-Service Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Certn Acquires Trustmatic to Expand Its Identity Verification Services
- 13.3.2. BIO-key Partners with Ethnos IT Solutions, Expanding the Reach of its Identity and Access Management Solutions Across Africa
- 13.3.3. Simeio Announces Strategic Acquisition of Identity and Access Management Firm PathMaker Group
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio