Under the umbrella terms of security and software as a service (SaaS), identity as a service (IDaaS) empowers organizations to use single sign-on (SSO). It further uses SAML (Security Assertion Markup Language) and OIDC (OpenID Connect) for access control and authentication to deliver secure access. Identity as a service is the pioneer of the digital transformation for the organizations as it provides adaptive, flexible, and safe IT infrastructure.
It’s being expected that by 2032, the Identity as a Service market cap will hit US$ 13.7 Bn at a CAGR growth of about 11.9%.
.jpg "The Global Identity As A Service Market 2022-2032 (USD Billion)")
The global identity as a service market size is anticipated to reach over USD 10 billion by 2025. This can be attributed to the growing security concerns among private as well as the public sector. Also, the growing need for the demand for cloud-based security services and solutions across various organizations is boosting 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.
Identity as a Service Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 13.7 Bn |
| Growth Rate | CAGR of 11.9 % during 2022-2032 |
| Segment Covered | By Component, By Deployment Type, By Organization Size, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Okta, Ping Identity, Idaptive, Microsoft, Oracle |
Key Segment Of The Identity as a Service Market
By Component (USD Billion)
• Provisioning
• Single Sign-on
• Advanced Authentication
• Audit, Compliance, and Governance
• Directory Services
• Password Management
By Deployment Type, (USD Billion)
• Public Cloud
• Private Cloud
• Hybrid Cloud
By Organization Size, (USD Billion)
• SMEs
• Large Enterprises
By Vertical, (USD Billion)
• BFSI
• Telecom and IT
• Retail and Consumer Goods
• Public Sector
• Energy and Utilities
• Manufacturing
• Healthcare
• Education
• Others
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
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The identity as a service market is growing at a CAGR of 11.9 % over the forecast period.
Asia Pacific dominated the market for identity as a service market and accounted for the largest revenue share.
Globally the numerous enterprises are implementing mobile as well as cloud solutions and services. Enterprises and businesses are shifting from conventional identity & access management solutions to advanced cloud-based solutions. Moreover, the majority of organizations have intricate IT environments that comprise a combination of SaaS, IaaS, and PaaS applications. Hence, such factors creating the demand for identity as a service solution. The identity as service solutions is proving to be very effective for small and medium enterprises that specifically operate their business in the cloud.
Component Segment
Based on the component segment, the market is divided into advanced authentication, provisioning, demand analysis, and forecasting, password management, directory services, and single sign-on. In the year 2019, the provisioning segment accounted for the highest market revenue and it is projected to hold the major market share over the forecast period. The growth of this segment is primarily accredited to the increasing need to systematize the de-provision & provision process of computing resources, and off-boarding & on-boarding process of employees.
Enterprise Size Segment
Based on the enterprise size, the market is segmented into small & medium-sized enterprises and large enterprises. 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. On the contrary, the small & medium-sized enterprises segment accounted for the highest growth and it is expected to hold its position over the forecast period.
Industry Vertical Segment
In terms of industry vertical segment, the market is segmented into BFSI, IT & telecom, healthcare, retail, education, government & defense, and others. The government & defense segment accounted for the major market share in 2019 and it is expected to do so throughout the forecast period. The growth of this segment is mainly accredited to increasing cyber-attacks on government and other public sector organizations to manipulate confidential data.
The North American region dominated the overall market in 2019 and it is projected 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. However, 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.
.png "North America Identity as a Service Market, 2018-2025 (USD Billion)")
The major players of the global identity as a service market are CA Technologies, SailPoint Technologies, Microsoft, IDaptive, OneLogin, Oracle, HCL Technologies, Google, 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. Also, the previously recognized market players are coming up with new and advanced strategic services to stay competitive in the global market.