Identity-As-A-Service Market Global Industry Analysis and Forecast Till 2026
Identity-as-a-Service is becoming more popular amongst many organizations, because of its feasibility in terms of management and cost. It could be defined as a cloud based service that is used for providing identity and access management solutions. The basic functions it delivers is provisioning, governance and access control. It is beneficial, as it not only reduces on-site infrastructure but also provides a wide range of integration options. This type of authentication infrastructure is more likely to be adopted by medium and large scale industries. The major concerns regarding this service are identity data protection and trusting a third party with sensitive business data. However, since authorization remains the basic function of IDaaS, the present obstacles can be overcome.
Identity as a Service Market: Drivers and Restraints
The traditional system for identity and access management, require hardware as well as software to be deployed. This not only calls for heavy investments by organizations to install the system but also to hire manpower to implement and manage the enterprise solution. With increase in the amount of data, and the need for efficient tools to securely manage the same is accelerating the growth of this market. But the lack of knowledge and the fear of adopting a cloud based identity access management service act as restraints for this market.
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Identity as a Service Market: Segmentation
Identity as a Service is segmented on the basis of services, deployment types, organizations’ size, verticals and regions. On the basis of services, the market can be segmented into provisioning, governance, directory technologies and access control. By deployment type, it can be segmented into cloud, hybrid and on-premise. On the basis of organization size the market is segmented into small, medium and large scale enterprises. On the basis of verticals, the market is segmented into BFSI, Telecom and IT, Retail and CPG, Public Sector and Utilities, Energy, Oil, and Gas, Education, Manufacturing, Healthcare and Life Sciences, and others (Travel and Hospitality, and Energy). Region wise, the segmentation is done into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Identity as a Service Market: Regional Outlook
The markets of North America and Europe are projected to significantly enhance the global share, because of the favorable regulatory situation. Increase in cyber threats and implementation of identity access management, would drive the market considerably in Asia-Pacific followed by moderate growth in MEA.
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Identity as a Service Market: Competition Landscape
Some of the key players in this industry are Amazon Web Services, Inc., CA Technologies, OneLogin, Centrify, Oracle Corporation, Net IQ, ForgeRock Inc, Dell Software, HID Global Corporation, EMC Corporation, Hewlett Packard Company, and IBM Corporation. Organizations enhance their market by making investments and also collaborating with other organizations.
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