Identity-as-a-Service (IDaaS) Market is expected to reach ~ US$ 26.2 Bn by 2027, expanding at a CAGR of ~ 26%

According to a new market report on the identity-as-a-service (IDaaS) market for the forecast period of 2019 to 2027, published by Transparency Market Research  the global identity-as-a-service market is expected to reach ~ US$ 26.2 Bn by 2027, expanding at a CAGR of ~ 26% from 2019 to 2027. According to the report, the global IDaaS market is expected to continue to be influenced by a range of macroeconomic and industry-specific factors. North America is anticipated to continue to be at the forefront of global demand, with the identity-as-a-service market in the region expanding at a CAGR of ~ 24.5% during the forecast period. Technical advancements, increased digitization, high Internet penetration, growing trend of the BYOD policy, and presence of a large number of cloud security solution providers are anticipated to drive the IDaaS market in North America.

global identity as a service idaas market

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Rising Significance of BYOD Policy and Technological Advancements in Digital Payment Systems Across the World Driving the Market

The increasing adoption of new IT solutions with modern consumer trends in different organizations and IT modernization is expected to boost the identity-as-a-service market in the coming years. Moreover, the growing trend of BYOD among different organizations and enterprises, and increasing Internet penetration are expected to fuel the growth of the identity-as-a-service market in the near future.

Both, North America and Europe are mature regions of the market, due to high awareness about identity-as-a-service among users, and technological developments. North America held a prominent share of the IDaaS market in 2018. In 2018, the U.S. held a significant share in terms of revenue of the identity-as-a-service (IDaaS) market in North America, followed by Canada. However, the identity-as-a-service markets in Asia Pacific and MEA are anticipated to expand at significant CAGRs in the coming years. Rise in penetration of technology in digital payment systems as well as significant investments in the optimal utilization of IT solutions across countries such as the U.S., U.K., Germany, France, China, India, and Brazil are anticipated to offer lucrative opportunities for identity-as-a-service (IDaaS) solution providers in the near future.

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IDaaS Market: Scope of the Report
Based on deployment, the global identity-as-a-service market has been segmented into public, private, and hybrid. In terms of revenue, the public cloud segment held a significant market share, followed by the private and hybrid cloud segments in 2018. Public clouds are growing in popularity because they require no capital investment from the user. However, the hybrid cloud segment is projected to witness significant growth due to its expected increase in adoption among users in the near future. In more recent times, BFSI, healthcare, and the government sector, which prioritize customer security, experience, and compliance management, opt for the hybrid deployment model. The report includes analysis of the identity-as-a-service market by region, segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Global Identity-as-a-service (IDaaS) Market: Competitive Dynamics

The research study includes the profiles of leading companies operating in the global identity-as-a-service market. Profiles of market players provide details of company business overview, broad financial overview, business strategies, and recent developments. Some of the key players in the identity-as-a-service IDaaS market profiled in the study are CA Technologies, Centrify Corporation, ILANTUS Technologies, iWelcome, JumpCloud, Okta, Inc., OneLogin Inc., Ping Identity, and, among others.

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