Identity as-a-Service(IDaaS) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Identity-as-a-Service Market
The identity-as-a-service market size was valued at USD 3.99 billion in 2021, and the market is now projected to grow from USD 4.92 billion in 2022 to USD 23.88 billion by 2029, exhibiting a CAGR of 25.3% during the forecast period of 2022-2029.
The pandemic drove businesses across industries which include retail, IT, healthcare and BFSI to shift online, growing the use of cloud-based offerings. This surge in digital operations heightened the dangers of data protection, specifically with private and sensitive statistics. The identity-as-a-provider market growth is due to emphasizing the want for data privacy compliance. Post-pandemic, groups retain consciousness of stable identity frameworks.
Global regulatory frameworks including GDPR, CCPA and others are pushing for stricter data safety practices, encouraging purchaser consideration and moral information use. Identity as a service (IDaaS) solution helps businesses comply with these guidelines by ensuring secure, authorized access to sensitive data. This reduces the danger of data breaches, both external and internal. As regulatory penalties for breaches rise, the demands for identity-as-a-provider market share substantially.
Additionally, blockchain technology complements identification control by offering decentralized, stable and traceable digital identification solutions. Its cryptographic security and immutable data functions help prevent data breaches, addressing risks tied to weak password safety and identity fraud. Blockchain-primarily based identification control empowers users to manage their records, promoting privacy through self-sovereign identification and non-custodial logins. This technology is predicted to power innovation in identity as a service, particularly as data breaches keep growing.
Comprehensive Analysis of Identity-as-a-Service Market
The identity-as-a-service market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by solution, by deployment, by enterprise size and by end user. The solution includes, Single Sign-on (SSO), Multi-factor Authentication (MFA), Provisioning, Privacy Management, Password Management, Advanced Authentication and Others. The deployment includes, Public Cloud, Private Cloud and Hybrid Cloud. The enterprise size includes, SMEs and Large Enterprise. The end user includes, IT & Telecom, BFSI, Retail, Healthcare, Government, Education and Others.
The global identity-as-a-service market particularly in North America took the lead and contributed USD 1.44 billion in 2021 to the field due to the booming cloud adoption trend. The U.S. is expected to retain market dominance, given that demand for user identification solutions that enable users to reduce security threats will continue to rise. The rapid growth of personal and sensitive online data further boosts regional market expansion. Increasing reliance on cloud platforms fuels IDaaS adoption across enterprises.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Ping Identity Corporation (Colorado, U.S.), OneLogin Inc. (California, U.S.), Atos SE (Bezons, France), Microsoft Corporation (Washington, U.S.), Oracle Corporation (Texas, U.S.), Salesforce Inc. (California, U.S.), Google LLC (California, U.S.), CA Technologies, Inc. (California, U.S.), SailPoint Technologies Inc. (Texas, U.S.) and IBM Corporation (New York, U.S.). These market players provide a level-playing competitive landscape.
In December 2021, Auth0 launched an identity platform featuring private cloud deployment through collaboration with Microsoft Azure. These cloud deployment options offer enhanced security and greater control over customer data.
Segmentation Table
Global Identity-as-a-Service Market Scope
Study Period 2018-2029
Base Year 2021
Forecast Period 2022-2029
Growth Rate CAGR of 25.3% from 2022 to 2029
Historical Period 2018-2020
Unit Value (USD Billion)
Segmentation By Solution, Deployment, Enterprise Size, End User, and Geography
By Solution Single Sign-on (SSO)
Multi-factor Authentication (MFA)
Provisioning
Privacy Management
Password Management
Advanced Authentication
Others (Directory Services, Access Security and Others)
By Deployment Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size SMEs
Large Enterprise
By End User IT & Telecom
BFSI
Retail
Healthcare
Government
Education
Others (Automotive, Manufacturing and Others)
By Region North America (By Solution, Deployment, Enterprise Size, End User, and Country)
U.S. (By End User)
Canada (By End User)
Mexico (By End User)
South America (By Solution, Deployment, Enterprise Size, End User, and Country)
Brazil (By End User)
Argentina (By End User)
Rest of South America (By End User)
Europe (By Solution, Deployment, Enterprise Size, End User, and Country)
U.K. (By End User)
Germany (By End User)
France (By End User)
Italy (By End User)
Spain (By End User)
Russia (By End User)
Benelux (By End User)
Nordics (By End User)
Rest of Europe (By End User)
Middle East & Africa (By Solution, Deployment, Enterprise Size, End User, and Country)
Turkey (By End User)
Israel (By End User)
GCC (By End User)
North Africa (By End User)
South Africa (By End User)
Rest of Middle East & Africa (By End User)
Asia Pacific (By Solution, Deployment, Enterprise Size, End User, and Country)
China (By End User)
Japan (By End User)
India (By End User)
South Korea (By End User)
ASEAN (By End User)
Oceania (By End User)
Rest of Asia Pacific
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