Identity as a Service (IDaaS) Market Overview

Identity as a Service (IDaaS) is a cloud-based subscription model for IAM, where identity and access services are rendered over the internet by a third-party provider rather than deployed on-premises. IDaaS solutions offer a variety of features, such as single sign-on (SSO), multi-factor authentication (MFA), identity provisioning, and access governance.

The IDaaS market size is growing rapidly, driven by a number of factors, including the increasing adoption of cloud computing, the growing need for security and compliance, and the rising number of cyberattacks. The global IDaaS market is expected to reach USD 21.87 billion by 2032, growing at a CAGR of 24.70% from 2023 to 2032.

Key Companies in the IDaaS Market

Some of the key players in the IDaaS market include:

  • Okta
  • Auth0
  • OneLogin
  • Ping Identity
  • SailPoint Technologies
  • IBM Security
  • Microsoft
  • Google Cloud
  • Amazon Web Services (AWS)
  • Cisco
  • Salesforce

These companies offer a wide range of IDaaS solutions, with different features and pricing options. Businesses can choose the solution that best meets their needs.

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Market Segmentation

The IDaaS market is segmented by solution, deployment, organization size, and end-user.

By solution, the market is segmented into:

  • Single sign-on (SSO)
  • Multi-factor authentication (MFA)
  • Identity provisioning
  • Access governance
  • Identity analytics
  • Other solutions

By deployment, the market is segmented into:

  • On-premises
  • Cloud-based

By organization size, the market is segmented into:

  • Small and medium-sized businesses (SMBs)
  • Large enterprises

By end-user, the market is segmented into:

  • BFSI
  • Healthcare
  • Retail
  • IT and telecom
  • Manufacturing
  • Government
  • Other end-users

Top Impacting Factors

The following are some of the top impacting factors in the IDaaS market:

  • Increasing adoption of cloud computing
  • Growing need for security and compliance
  • Rising number of cyberattacks
  • Regulatory compliance requirements
  • Increased focus on user experience
  • Emergence of new technologies, such as artificial intelligence (AI) and machine learning

Key Strategies

The key strategies adopted by the players in the IDaaS market include:

  • Mergers and acquisitions
  • Partnerships and collaborations
  • Expansion into new markets
  • Launch of new products and services
  • Investments in research and development

Regional Insights

The IDaaS market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is the largest market for IDaaS, followed by Europe and Asia Pacific. The growth of the IDaaS market in North America is driven by the increasing adoption of cloud computing, the growing need for security and compliance, and the rising number of cyberattacks. The growth of the IDaaS market in Europe is driven by similar factors, as well as the increasing regulations on data privacy and security. The growth of the IDaaS market in Asia Pacific is driven by the growing adoption of cloud computing, the increasing number of cyberattacks, and the rising awareness of the importance of security and compliance.

Industry Latest News

  • In February 2023, Okta announced that it had acquired Auth0, a leading provider of SSO and identity management solutions. The acquisition will help Okta to expand its offerings and reach a wider customer base.
  • In January 2023, Ping Identity announced that it had acquired SailPoint Technologies, a leading provider of identity governance and administration solutions. The acquisition will help Ping Identity to strengthen its position in the IDaaS market.
  • In December 2022, Microsoft announced that it had acquired RiskIQ, a provider of cloud-based security solutions. The acquisition will help Microsoft to improve its security offerings, including its IDaaS solution.

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