The global identity and access management-as-a-service (IDaas) market size is projected to be worth USD 7.66 billion by 2025. The demand for identity and access management-as-a-service is expected to grow due to rising need of controlled access systems in increasingly connected and vulnerable enterprises during the forecast period.
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Identity and access management-as-a-service is a framework that allows the cloud service provider to deliver identity and access management in a public cloud. IDaaS is well-suited for industries and organization as it provides cloud features including portability, and pay-per-use service. Organizations and industry participants are becoming more conscious about the role of digital identity management as there is a steep rise in digital workforce. Remote workers who are located outside the corporate network can also access different set of business processes, compounding the risk to organizations.
Use of digital payment is increasing in the banking and financial sector. This in turn has resulted in a growing need for security for the consumers as well as employees and to protect client data through identity and access management (IAM) solutions. Advancing virtualization has resulted in a greater number of banking functions operating online while increasing vulnerability to cyber-attacks. Consequently, the demand for IDaaS is expected to have a high potential growth in this segment over the next few years.
North America dominated the global identity and access management market in 2017. The key reason for high adoption in North America can be attributed to increasing adoption of new trends such as bring-your-own-device (BYOD) that can be used on-the-move. This has led to the increasing adoption of IDaaS patches to provide foolproof security to operations. Asia Pacific is expected to grow at high CAGR during the forecast period. Rising cyber threats and demand of strong identification and authentication by organization is driving cloud identity and access management (IAM) market in the region.
The global identity and access management-as-a-service market is extremely competitive and comprises numerous agile players. Launch of new cloud based products, updating the existing product, acquisitions, merger and expansions are the few strategies implemented by the key players in the market.
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In January 2018, Ping Identity formed partnership with KPMG to deliver CIAM solutions to foster digital commerce and digital transition initiatives for enterprises.
In June 2018, InnovoCommerce formed a partnership with Exostar for high assurance, Single-Sign-On Access to the investigatorFIRST Portal.
In March 2016, Google Cloud Platform offered identity and access management roles for users. Cloud based IAM enables big organizations and companies to give access to Google cloud infrastructure to certain people.
Key segments of the global identity and access management-as-a-service (IDaaS) market
Vertical overview, 2014–2025 (USD million)
Banking, Financial Services and Insurance (BFSI )
Healthcare
Telecom
Public sector
Others
Regional overview, 2014–2025 (USD million)
North America
U.S.
Canada
Europe
UK
Germany
Asia-Pacific
China
Japan
Rest of the world
Key players analyzed
Microsoft
CA Technologies
IBM Corporation
Salesforce.com Inc.
Ping Identity Corporation
Centrify Corporation
Exostar
Google LLC
Fischer International Identity
Okta, Inc.
OneLogin Inc.
Oracle Corporation
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Global Identity & Access Management Market, By Deployment (On Cloud, On Premise), By Organization Size (SMEs, Large Enterprises), By Verticals (BFSI, Manufacturing, IT & Telecommunication, Government, Healthcare) - Forecast 2022Market DynamicsMarket Research Future (MRFR) projects that the identity and access management (IAM) market 2020 could potentially touch a valuation of USD 24 billion by 2022-end.
We will provide covid-19 impact analysis with the report.Top Drivers and Key ChallengesDespite the COVID-19 crisis, the information and communication technology industry is presumed to observe unceasing growth in the face of economic turbulence.
Therefore, the rising integration of the cloud technology with identity and access management solutions can induce significant business growth in the ensuing years.Over the years, the block chain technology has managed to significantly penetrate the IAM field, creating a robust platform for preventing individual identities from getting stolen or being victims to fraudulent activities.
Businesses are incorporating the technology into the IAM area to tackle issues pertaining to authorization and authentication.
In a nutshell, the mounting deployment of the latest technologies like Block chain and AI can be deemed as some of the most important growth inducers in the identity and access management market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2635Market SegmentationThe IAM industry has been considered for deployment, organization, and verticals.Deployment-based segments covered in the market study include on-cloud as well as on-premise.
The on-cloud types of deployment segments are private, hybrid as well as public.The organization size ranges included in the report are small & medium enterprises along with large enterprises.Vertical-dependent market segmentation comprises government, healthcare, manufacturing, banking, financial services and insurance (BFSI), IT & Telecommunication, and more.Regional StudyThe regional study of the identity and access management market broadly covers North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).North America owns the biggest share in the global market for IAM systems, thanks to the optimistic regulatory scenario and the increasing need to adhere among businesses.
