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Global Identity-as-a-Service (IDaaS) Market is Expected to Grow at a CAGR of 20% in the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Identity-as-a-Service (IDaaS) Market Report and Forecast 2022-2027’, the global identity-as-a-service (IDaaS) market attained a value of USD 2.2 billion in 2020. The industry is further expected to grow at a CAGR of 20% in the forecast period of 2022-2027.

The global identity-as-a-service (IDaaS) market is primarily categorised into five major regions North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is expected to have the highest growth during the forecast period, primarily because of the increasing demand for cost-efficient identity security solutions. North America dominated the overall global market in the year 2020. The growing number of cyberattacks that attempt to access confidential consumer data and the changing needs of the workforce to meet regulatory norms are driving the organisations in North America to adopt IDaaS solutions. Furthermore, favourable regulations are supporting the growth of the regional market growth. 

The increasing adoption of cloud-based security services and solutions is driving the global market growth. The growing concerns among private and public sector about cybersecurity is propelling the market growth. The global identity-as-a-service (IDaaS) market comprises of well-established local and global players such as Oracle Corporation (NYSE: ORCL) and HCL Technologies Limited (NSE: HCLTECH). HCL's Identity-as-a-Service (IDaaS) includes the Opex model, which is a cost-effective solution as it reduces the hardware costs and serves as an alternative for building and maintaining Identity and Access Management (IAM) infrastructure. 

Market Analysis by Deployment Type, Service Type, Company Size, Access, Application, End Use, and Regions:

  • The market on the basis of deployment type can be divided into public, private, and hybrid.
  • Based on service type, the industry can be divided into on-site and in-house.
  • Based on company size, the industry can be bifurcated into small and medium enterprises (SMEs) and large enterprises.
  • By access, the market can be segmented into single sign-on, multi-factor authentication, compliance management, and directory services, among others.
  • Based on application, the industry can be divided into document verification, authentication/identification, and screening.
  • On the basis of end use, the market can be segmented into government, retail and consumer, electronics, transportation and logistics, media and entertainment, IT and telecommunication, BFSI, energy and utility, healthcare, and automotive sectors, among others.
  • The regional markets included in the report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global identify-as-a-service (IDaaS) market is being driven by the increasing demand for cloud-based security services and solutions.
  • The growing security concerns among private as well as the public sector is boosting the global identify-as-a-service (IDaaS) market growth.
  • The integration of machine learning with identity management solutions is expected to provide growth opportunities in the market.
  • The increasing adoption of AI-based technology, coupled with the rising investments, is providing a further boost to the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global identify-as-a-service (IDaaS) market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for deployment types, service types, company size, access, applications, end uses, and major regions of identify-as-a-service (IDaaS).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

The major players in the global identify-as-a-service (IDaaS) market are Capegemini SE, Broadcom Inc. (CA Technologies), Centrify Corporation, Google LLC, HCL Technologies Limited, Exostar LLC, IBM Corporation, Microsoft Corporation, and Oracle Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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