Dallas, Texas, July 15, 2020 (GLOBE NEWSWIRE) -- The “Identity as a Service Market by Component (Advanced Authentication, Provisioning, Audit, Compliance, and Governance, Password Management, Directory Services, and Single Sign-On), Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), Industry Verticals (BFSI, IT & Telecom, Healthcare, Retail, Education, Government & Defense, and Others), and by Region Global Forecast, 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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The global identity as a service market size is projected to reach over USD 10 billion by 2025. Also, it is anticipated to gather a CAGR of over 23% over the forecast period 2018-2025. Growing security concerns among private and public sector organizations are creating a demand for identity as a service (IDaaS) solutions. The identity as service solutions provides the enhanced user experience, identity analytics, API security, and federated identity. Such capabilities further enable detection and response in real-time.
The current and future identity as a service market advances is defined to state the attractiveness of the market. Key impacting aspects focus on Identity as a Service of market opportunities during the forecast period. Factors such as the increasing demand for cloud-based security services and solutions is driving the market growth. Also, the growing security concerns among private as well as the public sector is boosting the global identity as a service market growth. However, the high initial investment costs are likely to hamper the market growth. Furthermore, the integration of machine learning and artificial intelligence technologies with identity management solutions are anticipated to provide growth opportunities for the market in the upcoming years.
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The report also highlights various aspects of global identity as a service industry by analyzing the market through value chain analysis. Besides, the identity as a service market report covers different qualitative aspects of the identity as a service industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The identity as a service market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
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Based on the enterprise size, the market is segmented into large enterprises and small & medium-sized enterprises. The small & medium-sized enterprises segment accounted for the highest growth and it is expected to hold its position over the forecast period. On the contrary, the large enterprise's segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. The market growth in this segment is mainly attributed to the increasing need for efficient identity management solutions.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast period due to the increasing need for cost-efficient identity security solutions. However, the North American region dominated the overall market in 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the increasing data breaches and cyber-attacks in this region
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The major players of the global identity as a service market are CA Technologies, OneLogin, Oracle, HCL Technologies, Google, SailPoint Technologies, Microsoft, IDaptive, Salesforce, and Gemalto. Moreover, the other prospective players in the identity as a service market are One Identity, Capgemini, Simeio Solutions, JumpCloud, and Ping Identity. The identity as a service market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic services to stay competitive in the global market.
Major points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Identity as a Service Market by Component
Chapter 6 Identity as a Service Market by Enterprise Size
Chapter 7 Identity as a Service Market by Industry Vertical
Chapter 8 Identity as a Service Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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