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The identity as a service market share is expected to increase by USD 6.80 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 18.98%.
This identity as a service market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers identity as a service market segmentation by end-user (telecom and IT, BFSI, education, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The identity as a service market report also offers information on several market vendors, including Atos SE, Broadcom Inc., Capgemini Service SAS, Centrify Corp., CyberArk Software Ltd., HCL Technologies Ltd., Ilantus Inc., International Business Machines Corp., Jumio Corp., JumpCloud Inc., Microsoft Corp., Okta Inc., Oracle Corp., Ping Identity Holding Corp., Quest Software Inc., SailPoint Technologies Holdings Inc., Salesforce.com Inc., Simeio Solutions LLC, Thales Group, and Alphabet Inc. among others.
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The growing adoption of cloud security solutions is notably driving the identity as a service market growth, although factors such as system integration and interoperability issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the identity as a service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Identity as a Service Market Driver
One of the key factors driving growth in the identity as a service market is the growing adoption of cloud security solutions. The demand for IDaaS is expected to grow significantly over the next few years, driven by an increase in consumer demand for cloud security solutions. Many organizations and businesses already use cloud services for computing, networking, and data storage. However, companies need to be careful about securing their data while providing access to their network through the cloud to employees who work remotely or on their own devices. They focus on identity and access management systems to secure their corporate data. This will drive the growth of the global IDaaS market.
Key Identity as a Service Market Trend
The rising adoption of cloud computing is an identity as a service market trend that is expected to have a positive impact in the coming years. The growing penetration of multi-cloud computing systems in the modern industrial ecosystem, especially among IT and telecommunications companies, demonstrates the need for efficient identity management services to secure their public cloud infrastructure. The demand for IDaaS for public clouds is relatively higher than for private or hybrid cloud infrastructures, due to their vulnerability to cyberattacks. However, the adoption of IDaaS in private and hybrid cloud networks is expected to increase significantly, guiding the future strategies of IDaaS market players.
Key Identity as a Service Market Challenge
The system integration and interoperability issues will be a major challenge for the identity as a service market during the forecast period. The adoption of advanced technology in many industry verticals, such as banking, financial services and insurance (BFSI), telecom, and the public sector, is rapidly increasing. This gives rise to several system integrations and interoperability issues. Vendors should provide unified IDaaS solutions that can be seamlessly integrated into the IT infrastructure of organizations. Technical glitches during business operations can incur costs and reduce the efficiency of processes. Organizations that use different versions of operating systems on their mobile devices may face software implementation issues.
This identity as a service market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global identity as a service (IDaaS) market as a part of the global data processing and outsourced services market within the global IT services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the identity as a service market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the identity as a service market encompasses successful business strategies deployed by the key vendors. The identity as a service market is fragmented and the vendors are deploying growth strategies such as acquisitions, partnerships, and investments in research and development to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The identity as a service market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the identity as a service market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for identity as a service in North America. Market growth in this region will be slower than the growth of the market in other regions.
The growing number of cyberattacks aimed at accessing consumer confidential data, the growing adoption of cloud applications and the changing needs of the workforce action to meet regulatory standards are driving organizations in North America to adopt IDaaS solutions. This will facilitate the identity as a service market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The identity as a service market share growth by the telecom and IT segment will be significant during the forecast period. The requirement for identity management platforms has grown significantly around the world over the past decade, driving the demand for IDaaS. Businesses are now extremely vulnerable to dangers, such as identity theft and fraud, due to the growing use of IoT-based solutions across a variety of industries.
This report provides an accurate prediction of the contribution of all the segments to the growth of the identity as a service market size and actionable market insights on post COVID-19 impact on each segment.
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Identity as a Service Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.98% |
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Market growth 2022-2026 |
$ 6.80 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
18.0 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Atos SE, Broadcom Inc., Capgemini Service SAS, Centrify Corp., CyberArk Software Ltd., HCL Technologies Ltd., Ilantus Inc., International Business Machines Corp., Jumio Corp., JumpCloud Inc., Microsoft Corp., Okta Inc., Oracle Corp., Ping Identity Holding Corp., Quest Software Inc., SailPoint Technologies Holdings Inc., Salesforce.com Inc., Simeio Solutions LLC, Thales Group, and Alphabet Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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