IDaaS Market to Undertake Strapping Growth During 2022 to 2030

Market Overview:

According to MRFR analysis, the global IDaaS market is expected to register a CAGR of 24.7% from 2022 to 2030 and hold a value of over USD 16.8 billion by 2030. 

Identity as a Service (IDaaS) is a type of cloud-based service that provides organizations with identity and access management (IAM) capabilities. IDaaS solutions typically include features such as single sign-on (SSO), multi-factor authentication (MFA), user provisioning, and identity governance. These solutions allow organizations to manage and secure access to their applications and data, both on-premises and in the cloud, and can be integrated with existing IT infrastructure.

Market Drivers

• The increasing adoption of cloud computing is driving the growth of the IDaaS market. Cloud computing makes it easy for organizations to deploy and manage IDaaS solutions, which is driving demand for these solutions.
• The growing demand for security solutions that can help organizations to protect their data and applications is another major driver of the IDaaS market. IDaaS solutions can help organizations to centralize access control, reduce the risk of data breaches, and simplify compliance with regulations.
• The increasing number of cyberattacks is also driving the growth of the IDaaS market. Organizations are increasingly looking for ways to improve their security posture and IDaaS solutions can help them to do this.

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Market Challenges

• One of the major challenges facing the IDaaS market is the lack of awareness about these solutions. Many organizations are not aware of the benefits of IDaaS and this is hindering the growth of the market.
• Another challenge facing the IDaaS market is the high cost of these solutions. IDaaS solutions can be expensive, which is a barrier to adoption for some organizations.
• The lack of standards in the IDaaS market is also a challenge. There is no single standard for IDaaS solutions, which makes it difficult for organizations to choose the right solution for their needs.

Market Trends

• One of the major trends in the IDaaS market is the increasing adoption of multi-factor authentication (MFA). MFA adds an extra layer of security to IDaaS solutions by requiring users to provide two or more pieces of information to authenticate themselves.
• Another trend in the IDaaS market is the increasing adoption of single sign-on (SSO). SSO allows users to sign in to multiple applications using a single set of credentials. This makes it easier for users to manage their passwords and it also reduces the risk of data breaches.
• The increasing adoption of cloud-based identity governance (IGA) solutions is another trend in the IDaaS market. IGA solutions help organizations to manage their user identities and access rights in the cloud. This can help organizations to improve their security posture and it can also help them to comply with regulations.

Market Segmentation

The IDaaS market can be segmented on the basis of deployment type, service type, enterprise size, access type, application, and end-user industry.

• Deployment type: The IDaaS market can be segmented into on-premises and cloud-based deployment. Cloud-based deployment is the most popular deployment type for IDaaS solutions.
• Service type: The IDaaS market can be segmented into identity provisioning, single sign-on, identity governance, and access management. Identity provisioning is the most popular service type for IDaaS solutions.
• Enterprise size: The IDaaS market can be segmented into small and medium-sized enterprises (SMEs) and large enterprises. Large enterprises are the major users of IDaaS solutions.
• Access type: The IDaaS market can be segmented into remote access and intranet access. Remote access is the most popular access type for IDaaS solutions.
• Application: The IDaaS market can be segmented into web applications, mobile applications, and on-premises applications. Web applications are the major users of IDaaS solutions.
• End-user industry: The IDaaS market can be segmented into BFSI, IT and telecom, healthcare, retail, and government. BFSI is the major end-user industry for IDaaS solutions.

Market Players

Some of the major players in the IDaaS market include:

• Amazon Web Services (AWS)
• Microsoft Azure
• Google Cloud Platform (GCP)
• Okta
• Ping Identity
• OneLogin
• Duo Security
• SailPoint
• Auth0
• Idaptive

The IDaaS market is a rapidly growing market and it is expected to continue to grow in the coming years. The growth of the market is being driven by the increasing adoption of cloud computing, the growing demand for security solutions, and the increasing number of cyberattacks.

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