Identity as a Service Market Size, Opportunities, Industry Outlook, Forecast to 2031

New York, Identity as a Service (IDaaS) is a cloud-based solution that provides identity and access management (IAM) capabilities as a subscription service. IDaaS solutions are typically delivered using a Software as a Service (SaaS) model and provide users with the ability to manage identities, authenticate users, and control access to applications and data.

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Key Trends

There are three key trends in Identity as a Service technology:

1. The rise of biometrics: Biometrics, or the use of physical and behavioral characteristics to identify individuals, is becoming increasingly common as a means of authentication. This is due to the fact that biometrics are more difficult to spoof than other forms of authentication, such as passwords.

2. The shift to cloud-based identity management: Cloud-based identity management is also on the rise, as it offers a more convenient and cost-effective way to manage identity data.

3. The increasing importance of mobile identity: Mobile identity is becoming increasingly important, as more and more people are using their smartphones as a primary means of accessing online services.

Key Drivers

There are several key drivers of the Identity as a Service market.

Firstly, the increasing need for organizations to manage user identities across a variety of devices and platforms is driving demand for Identity as a Service solution.

Secondly, the need to comply with regulations such as the General Data Protection Regulation (GDPR) is driving organizations to adopt Identity as Service solutions that offer robust security and privacy features.

Finally, the increasing adoption of cloud-based applications and services is driving demand for Identity as a Service solution that can provide single sign-on (SSO) and other identity management capabilities in the cloud.

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Market Segments

The identity as a service market is segmented by deployment, end-user, and region. By deployment, the market is classified into public cloud, private cloud, and hybrid cloud. Based on end-user, it is bifurcated into BFSI, telecom, IT, retail, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

Key Players

The global identity as a service market includes players such as IDaptive LLC, Ping Identity, OneLogin, CA Technologies, SailPoint Technologies, Microsoft Corporation, Oracle Corporation, IBM Corporation, Google, HCL, and others.

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