Global Identity and Access Management-as-a-service (IDaaS) Market Size By Deployment Model, By Organization Size, By Authentication Type, By Geographic Scope And Forecast

Identity and Access Management-as-a-service(IDaaS) Market Size And Forecast

Identity and Access Management-as-a-service(IDaaS) Market size was valued at USD 8.7 Billion in 2023 and is projected to reach USD 27.6 Billion by 2030, growing at a CAGR of 25 % during the forecast period 2024-2030.

Global Identity and Access Management-as-a-service(IDaaS) Market Drivers

The market drivers for the Identity and Access Management-as-a-service(IDaaS) Market can be influenced by various factors. These may include

• Growing Need for Cloud Services The need for IDaaS solutions is being driven by the growing industry use of cloud-based solutions.
• Increasing Cybersecurity Concerns Businesses are being pushed to invest in strong identity and access management systems due to heightened awareness of cybersecurity dangers and data breaches.
• Regulatory Compliance Requirements In order to maintain compliance, IDaaS solutions are being used in response to strict data protection laws including GDPR, HIPAA, and CCPA.
• Trend in Remote Workforce The move to mobile and remote workforce models increases the need for IDaaS by requiring secure and seamless access management.
• Cost-effectiveness IDaaS solutions are more widely adopted by small and medium-sized businesses (SMEs) because they are more affordable than conventional on-premises IAM systems.
• Scalability and Flexibility IDaaS solutions are flexible and scalable, making them appropriate for enterprises of all sizes and able to adjust to changing organizational requirements.
• User Convenience IDaaS solutions improve user experience and productivity by providing self-service alternatives and user-friendly interfaces.
• Integration Capabilities By allowing IDaaS platforms to easily interface with current IT applications and infrastructure, deployment complexity is decreased.
• Emphasis on Identity-Centric Security To defend against insider risks and identity-based assaults, IDaaS solutions are being used in response to a shift in security approaches that are more identity-centric.
• Technological Developments The capabilities of IDaaS solutions are improved by ongoing innovation in biometrics, multi-factor authentication (MFA), and AI-driven security.

Global Identity and Access Management-as-a-service(IDaaS) Market Restraints

Several factors can act as restraints or challenges for the Identity and Access Management-as-a-service(IDaaS) Market. These may include

• Data Privacy Issues Growing market expansion may be impeded by worries about the security and privacy of private user information kept on cloud-based IDaaS platforms.
• Lack of Knowledge One of the biggest obstacles to market expansion is the lack of knowledge among enterprises, especially in emerging markets, regarding the features and advantages of IDaaS solutions.
• Integration Challenges Adoption of IDaaS solutions may be hampered by complex integration needs with legacy systems and heterogeneous IT environments.
• Dependency on Internet Connectivity In areas with erratic connectivity, relying on steady internet connectivity to use cloud-based IDaaS platforms may present difficulties.
• Resistance to Change Resistance from traditional IT teams and organizational culture towards transitioning from on-premises IAM solutions to cloud-based IDaaS platforms may slow adoption rates.
• Fear of Vendor Lock-in Businesses may be discouraged from investing in IDaaS solutions due to concerns about vendor lock-in and the lack of interoperability across IDaaS platforms and other cloud services.
• Risk of unlawful Access Potential adopters are concerned about security because of the possibility of identity theft or unlawful access resulting from flaws in IDaaS platforms.
• On-premises Solutions’ Competition Relatively new on-premises IDaaS providers may face fierce competition from IAM vendors, particularly from businesses that have already made investments in on-premises solutions.
• Complexity of Regulations IDaaS providers and users incur additional expenses and complexity in complying with various and constantly changing regulatory frameworks in various areas.
• Limited Customization choices IDaaS solutions may not be able to satisfy the unique needs of some businesses or use cases due to the lack of customization choices and control over the underlying infrastructure.

Global Identity and Access Management-as-a-service(IDaaS) Market Segmentation Analysis

The Global Identity and Access Management-as-a-service(IDaaS) Market is Segmented on the basis of Deployment Model, Organization Size, Authentication Type and Geography.

Identity and Access Management-as-a-service(IDaaS) Market, By Deployment Model

• Public Cloud IDaaS solutions hosted on cloud platforms accessible to multiple organizations.
• Private Cloud IDaaS solutions deployed within a single organization’s private cloud infrastructure.
• Hybrid Cloud Combination of public and private cloud deployments for IDaaS, offering flexibility and customization.

Identity and Access Management-as-a-service(IDaaS) Market, By Organization Size

• Small and Medium-sized Enterprises (SMEs) Typically characterized by limited IT resources and budget constraints, driving adoption of cost-effective IDaaS solutions.
• Large Enterprises Often have complex IT environments and stringent security requirements, necessitating scalable and comprehensive IDaaS solutions.

Identity and Access Management-as-a-service(IDaaS) Market, By Authentication Type

• Single-factor Authentication (SFA) Basic authentication method using a single factor such as passwords or biometrics.
• Multi-factor Authentication (MFA) Enhanced security authentication requiring multiple factors such as passwords, biometrics, OTPs, or security tokens.
• Adaptive Authentication Dynamic authentication process adjusting based on risk assessment factors such as user behavior, location, and device.

Identity and Access Management-as-a-service(IDaaS) Market, By Geography

• North America Leading market for IDaaS solutions due to early adoption of cloud technologies and stringent security regulations.
• Europe Increasing adoption of IDaaS solutions driven by GDPR compliance requirements and digital transformation initiatives.
• Asia Pacific Emerging market with significant growth potential fueled by increasing cloud adoption and cybersecurity awareness.
• Latin America Adoption of IDaaS solutions influenced by digitalization efforts and regulatory compliance in key industries.
• Middle East and Africa Growing investment in IT infrastructure and cybersecurity drives demand for IDaaS solutions in the region.

Key players

The major players in the Identity and Access Management-as-a-service(IDaaS) Market are

• Microsoft (Azure Active Directory)
• Okta, Inc.
• Ping Identity Corporation
• SailPoint Technologies, Inc.
• ForgeRock, Inc.
• IBM (Security Access Manager)
• Broadcom Inc. (Symantec)
• CyberArk Software Ltd.
• Google Cloud (Cloud Identity)
• Amazon Web Services (AWS IAM)

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