New York, US, June 28, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Security Assertion Markup Language (SAML) Authentication Market information by Component, by Deployment, by Vertical and Region – forecast to 2027” the market valuation to touch USD 2.8 billion by 2026, growing at 14.9% CAGR.
Market Scope:
SAML authentication is a standardized method of proving one's identity and gaining access to all external applications and services that one wishes to access. SAML is a collection of standards that allows all internet users to log in using a web portal and seamlessly access information or other online services without having to log in numerous times and provide credentials. SAML is an open-source XML protocol that allows an identity provider and a service provider to communicate information for authentication and authorization (usually a cloud or a web-based application). Other synonyms for SAML include token-based authentication, security token services, federated authentication, and identity federation. It was first released by the Organization for the Advancement of Structured Information Standards (OASIS) in 2002.
Dominant Key Players on SAML Authentication Market Covered Are:
- Thales (France)
- Ping Identity (US)
- Amazon Web Services Inc. (US)
- Okta (US)
- Oracle (US)
- miniOrange Inc. (US)
- Zoho Corp. (India)
- OneLogin Inc. (US)
- SSO Easy (US)
- SAASPASS (US)
- Auth0 Inc. (US)
- BIO-key International (US)
- RCDevs (Luxembourg)
- Ariel Software Solutions Pvt. Ltd. (India)
- Microsoft (US)
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Market USP exclusively encompassed:
Market Drivers
The security assertion markup language authentication market is being driven by an increase in the requirement for effective management of bulk IDs as well as an increase in the need for a consistent and unified technique to assure identity security. Furthermore, the increased Internet penetration and quick advances in the telecom industry are expanding the use of the Internet via smartphones in emerging economies such as India, which is driving the expansion of the security assertion markup language (SAML) authentication market. The growing trend of bring your own device (BYOD) is opening up new potential for SAML solutions and is projected to propel market growth to new heights. This market expansion, however, is inhibited by a lack of understanding about the availability of identification and authentication protocols to prevent unauthorized enterprise access.
Segmentation of Market Covered in the Research:
The global SAML authentication market has been segmented based on component, deployment, and vertical.
By component, the global SAML authentication market has been divided into solution and service.
Based on deployment, the global SAML authentication market has been divided into cloud-based and on-premises.
By vertical, the global security assertion markup language (SAML) authentication market has been divided into BFSI, IT & telecom, energy & utilities, healthcare, oil & gas, manufacturing, retail, and others.
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Regional Analysis
The geographic analysis of the global security assertion markup language (SAML) authentication industry has been conducted for North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
North America is expected to account for the largest market share, owing to the presence of industry key players such as Ping Identity (US), Amazon Web Services, Inc. (US), Okta (US), Oracle (US), miniOrange Inc. (US), OneLogin, Inc. (US), SSO Easy (US), SAASPASS (US), Auth0 Inc. (US), BIO-key International (US), and Microsoft (US). Because of factors such as increased acceptance of SAML authentication solutions, development in IoT, the BYOD trend in large and small enterprises, and an increase in internal and external threats, the United States is likely to lead the market in North America.
During the study period, the European market for SAML authentication is predicted to rank second, owing to regulatory compliance requirements and fast economic growth in nations such as the United Kingdom and Germany. Furthermore, the growing number of cloud-based services is raising the sensitivity of the information, which is driving the market growth.
In terms of embracing security assertion markup language (SAML) authentication across industrial verticals, Asia Pacific is predicted to be the third most dominant region. Several business organizations keep sensitive information on the cloud, necessitating the use of a strong authentication system to govern identity and access. The Asia Pacific market has been divided into China, India, Japan, and the rest of the region. China leads the nation-level market, with India expected to be the fastest-growing country over the projection period. Due to variables such as a significant number of users in an enterprise, making it essential to adopt SAML authentication solutions and services, the Chinese market is predicted to register the greatest market share. Furthermore, India is seeing a surge in the number of IT service providers in the country.
The markets in the Middle East and Africa, as well as South America, are likely to rise significantly over the forecast period, owing to digital transformation across industry sectors.
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COVID-19 Impact on the Global SAML Authentication Market
The breakout of COVID-19 in the early months of 2020 has disrupted normal industry operations. For business continuity, many verticals have moved their working environments from physical to virtual. The use of digital platforms during this pandemic situation has allowed firms to execute their operations more smoothly, but it has also increased their data and system vulnerabilities. The number of cybercrimes has increased since the start of the pandemic. As a result, there is a greater demand for security solutions, such as SAML authentication to prevent unusual events.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.