Global Single Sign-on Market Size, Share, Growth Analysis, By Authentication(Password-Based, Multifactor Authentication ), By Component(Software and services ), By Industry Vertical - Industry Forecast 2024-2031

Global Single Sign-on Market size was valued at USD 3.51 billion in 2022 and is poised to grow from USD 3.98 billion in 2023 to USD 10.80 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

The global single sign-on (SSO) market has been witnessing significant growth, driven by the increasing need for seamless and secure access to multiple applications and services within organizations. Single sign-on solutions enable users to authenticate once and gain access to various applications and systems without the need to re-enter credentials, thereby enhancing user experience and productivity while bolstering security measures. One of the primary drivers of the SSO market is the rising adoption of cloud-based applications and services across various industries. With organizations migrating their infrastructure and applications to the cloud, the need for efficient identity and access management solutions like SSO has surged. SSO not only simplifies user authentication but also ensures consistent security policies across cloud-based and on-premises environments. Furthermore, the proliferation of mobile devices and the increasing trend of remote work have further fueled the demand for SSO solutions. Employees accessing corporate resources from multiple devices and locations require a seamless authentication experience, which SSO provides by enabling secure access from anywhere, anytime. In addition to enhancing user convenience and security, SSO solutions also offer benefits to organizations in terms of cost savings and operational efficiency. By streamlining access management processes and reducing the burden on IT support teams, SSO helps organizations lower administrative costs and improve overall productivity. The competitive landscape of the global SSO market is characterized by the presence of several key players offering a wide range of solutions tailored to meet the diverse needs of organizations across various sectors. These players continually innovate to stay ahead in the market, incorporating advanced features such as multi-factor authentication, adaptive access controls, and integration with other security technologies. Moreover, partnerships, collaborations, and strategic acquisitions are common strategies adopted by companies to expand their market presence and enhance their product offerings. Additionally, with the growing emphasis on compliance and data privacy regulations such as GDPR and CCPA, SSO vendors are focusing on enhancing the security and compliance capabilities of their solutions to address the evolving regulatory landscape. Looking ahead, the global single sign-on market is poised for continued growth, driven by factors such as the increasing adoption of cloud-based technologies, the proliferation of mobile devices, and the growing awareness of cybersecurity threats. As organizations prioritize enhancing security measures and improving user experience, the demand for SSO solutions is expected to remain robust, presenting lucrative opportunities for vendors in the market. However, vendors will need to innovate continuously and adapt to evolving customer requirements to maintain their competitive edge in this dynamic landscape.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Single Sign-on Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Single Sign-on Market Segmental Analysis

The global single sign-on market is segmented into four major segments i.e. by authentication, component, industry vertical, and region. Based on authentication type, it is divided into password-based, multi factor authentication (MFA), biometrics, single sign-on with federation, and others. Based on components, it is bifurcated as software and services (professional services, managed services). Based on industry vertical it is segregated into, healthcare, financial services, IT and telecommunications, retail, education, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Drivers of the Global Single Sign-on Market

The global single sign-on (SSO) market has experienced robust growth in recent years, driven by the increasing need for streamlined authentication processes and enhanced security measures across various industries. One key market driver is the growing adoption of cloud-based services and applications. As organizations transition to cloud-based infrastructures, the demand for efficient identity and access management solutions like SSO has surged. Cloud-based SSO offers a centralized approach to authentication, allowing users to access multiple applications and services with a single set of credentials. This not only simplifies the user experience but also improves security by reducing the risk of password-related vulnerabilities and unauthorized access.

Restraints in the Global Single Sign-on Market

However, despite the numerous benefits offered by SSO solutions, there are notable restraints that could hinder market growth. One significant challenge is the complexity of integrating SSO across diverse IT environments and legacy systems. Many organizations operate with heterogeneous IT landscapes comprising various platforms, applications, and protocols, making seamless integration a daunting task. Additionally, concerns regarding data privacy and compliance regulations pose a significant barrier to adoption, particularly in highly regulated industries such as healthcare and finance. Addressing these integration challenges and ensuring compliance with stringent data protection laws remain critical hurdles for SSO vendors seeking widespread market penetration.

Market Trends of the Global Single Sign-on Market

In terms of trends shaping the SSO market, one notable development is the increasing emphasis on multi-factor authentication (MFA) and adaptive access controls. With cyber threats becoming more sophisticated, organizations are augmenting their security postures by implementing MFA alongside SSO to add an extra layer of protection. Furthermore, the rise of remote work and bring-your-own-device (BYOD) policies has fueled the adoption of contextual authentication mechanisms, such as adaptive access controls, which evaluate various contextual factors before granting access. This trend underscores the growing importance of dynamic and risk-aware authentication approaches within the SSO landscape, as organizations strive to strike a balance between security and user convenience in an evolving threat landscape.