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Tuesday, August 24, 2021

Global Identity-as-a-Service Market to be driven by increased demand for IT security and data protection from end use industries in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘ Global Identity-as-a-Service Market Report and Forecast 2021-2026’, gives an in-depth analysis of the  Global Identity-as-a-Service market, assessing the market based on its segments like deployment, service type, company size, access, application, end use and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2015-2026)

  • Historical Market Size (2020): USD 72 billion
  • Forecast CAGR (2021-2026): 07%
  • Forecast Market Size (2026): USD 8.16 billion

The Global Identity-as-a-Service market has seen decent growth in the historical period, as recent advances in technology have led to frequent changes and challenges for the IT infrastructure of organizations. However, in order to remain ahead of the competition, businesses must update their IT infrastructure.

Industry Definition and Major Segments

Identity-as-a-Service (IDaaS) refers to subscription-based cloud-based identity and access management systems. Identity-as-a-service is usually delivered completely on-site with the use of a combination of software and hardware tools. The business can be divided into two types of services: on-site and in-house. It is a technical feature that maintains user identity and assists organisations in ensuring that users are who they claim to be, as well as clearly preventing cybercriminals and unauthorised users from accessing sensitive data because IAM services depend on active and lightweight directory access protocol.

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Based on deployment, the market is segregated into:

  • Public
  • Private
  • Hybrid

The company size can be segmented as:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

On the basis of accessibility, the industry can be divided into:

  • Single Sign-On
  • Multi-factor Authentication
  • Compliance Management
  • Directory Services

It finds applications in the following segments:

  • Document Verification
  • Authentication/identification
  • Screening

The end-users of the industry are usually the following:

  • Government
  • Retail and Consumer Electronics
  • Transportation and Logistics
  • Media and Entertainment
  • IT and Telecommunication
  • BFSI
  • Energy and Utility
  • Healthcare
  • Automotive

The global market for Identity-as-a-Service includes:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Some of the factors expected to drive growth in the Global Identity-as-a-Service (IDaaS) Market include an increase in security concerns in the public and private sectors, demand for cloud-based security technology and services across the IT infrastructure, and the introduction of regulatory and data protection laws. Organizations must provide access to workers operating remotely while ensuring security enforcement, necessitating the use of identity and access solutions. IDaaS solutions are in high demand due to stringent regulatory mandates and data security laws. Stringent global legislation and enforcement relating to identity fraud, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), are pushing companies to take extra precautions in securing internal workforce, vendors, and end users’ user accounts. Region-Wise, The Asia Pacific region, due to rapid urbanisation and increased demand for digital security, is projected to drive the market during the forecast period.

Key Market Players

The major players in the market Capegemini SE, CA Technologies, Centrify Corporation, Exostar, Google LLC, HCL Technologies Limited, IBM Corporation (NYSE: IBM), ILANTUS Technologies, iWelcome, JumpCloud, Microsoft Corporation and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

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Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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