Identity as a Service Market by Component (Provisioning, Single Sign-On, and Advanced Authentication), Deployment Type, Organization Size, Vertical (BFSI, Telecom and IT, Healthcare, and Public Sector), and Region - Global Forecast to 2024

Growing demand for cloud-based security solutions and services to drive the adoption of Identity as a Service (IDaaS) market

The IDaaS market is projected to grow from USD 2.5 billion in 2019 to USD 6.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period. The fast growth in IT infrastructure has given rise to new vulnerabilities and threats. The cloud-based security solutions and services, such as IDaaS, offer significant advantages, as they are cost-effective and provide 24x7 monitoring. Hence, the rising demand for cloud-based security solutions is driving the global IDaaS market.

Advanced authentication segment to grow at the highest CAGR during the forecast period
The advanced authentication segment is projected to grow at the highest CAGR during the forecast period. The term advanced authentication includes different types of authentication methods. It combines multi-factor credentials to avoid unwanted access and frauds. This is a scalable and flexible solution, which incorporates both risk-based authentication and strong authentication. It includes software revenues from technologies used for biometric recognition of identities; smart cards software; and 2, 3, and multifactor authentications. The market for advanced authentication is growing due to the rising concerns of thefts and data breaches of sensitive information from the organization’s electronic devices. It also provides the centralized visibility of all user identities for accessing cloud or on-premises-based applications and systems.
Large organizations segment to lead the IDaaS market in 2019
Organizations with more than 1000 employees are categorized as large businesses. Affordability of resources and high economies of scale enable these organizations to leverage the benefits of IDaaS. As cloud technologies are simplifying the IT aspects, several enterprises have replaced their traditional IT infrastructure technologies and various other management processes with cloud deployment and service delivery models. Hence, a number of enterprises are building strategies inclined toward IDaaS, which would provide a common platform to the complex and dispersed computing environment and management of identities and provisioning of employees scattered at different locations. The large enterprises would have centralized management and single point of accountability for the management of various types of user provisioning and authentications that would help them reduce the cost of implementing on-premises solutions while complying with the ever-changing regulatory environment. IDaaS would also help them reduce the IT department’s responsibility in ensuring enterprises are complying with governance, security, and the policies of the government while minimizing enterprise risks.
The APAC IDaaS market to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to invest more in security spending owing to the increasing number of identity and access breaches. The region consists of the world’s fastest-growing economies such as China, India, and Japan. Moreover, technology penetration in the region is high. APAC has witnessed advanced and dynamic adoption of innovative technologies and has always been a lucrative market for security solutions and service providers. Though the region is adopting the latest security technologies, it is targeted by several cyberattacks. In 2018, APAC witnessed rising threats; for instance, the computer systems of 2 Thailand banks were compromised, which affected the personal and corporate data of more than 120,000 customers. According to a survey by Fair Isaac Corporation (FICO), 74% of APAC banks surveyed believe that cases of fraud in their country will increase significantly in 2019. As per Global Cybersecurity Index (GCI) 2017 by International Telecommunication Union (ITU), Singapore and Malaysia are among the top 5 countries globally that have shown commitment toward building national policies for protection against cybercrimes. This has led to increased adoption of IDaaS solutions in the region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the IDaaS market.
‧ By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
‧ By Designation: C-level – 38%, Directors – 30%, and Others – 32%
‧ By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, and Latin America– 5%
Major vendors of IDaaS solutions and services include Okta, Inc. (US), IDaptive, LLC (US), Ping Identity (US), OneLogin (US), CA Technologies (US), SailPoint Technologies (US), Microsoft Corporation (US), Oracle Corporation (US), IBM Corporation (US), Google (US), Salesforce (US), HCL (India), Capgemini (France), Gemalto (Netherlands), Simeio Solutions (US), Jumio (US), Connectis (Netherlands), Auth0 (US), One Identity (US), and JumpCloud (US). The study included an in-depth competitive analysis of these key players with their company profiles, recent developments, and key growth strategies adopted by them.
Research coverage
The market study covers the IDaaS market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on deployment types, components, organization sizes, verticals, and regions. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall IDaaS market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 MARKET SEGMENTATION 17
1.3.2 REGIONS COVERED 17
1.3.3 YEARS CONSIDERED FOR THE STUDY 18
1.4 CURRENCY CONSIDERED 18
1.5 STAKEHOLDERS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.2 PRIMARY DATA 20
2.1.2.1 Breakup of primary profiles 20
2.1.2.2 Key industry insights 21
2.2 MARKET BREAKUP AND DATA TRIANGULATION 21
2.3 MARKET SIZE ESTIMATION 22
2.3.1 TOP-DOWN APPROACH 22
2.3.2 BOTTOM-UP APPROACH 23
2.4 MARKET FORECAST 23
2.5 ASSUMPTIONS FOR THE STUDY 24
2.6 LIMITATIONS OF THE STUDY 24
3 EXECUTIVE SUMMARY 25
4 PREMIUM INSIGHTS 29
4.1 ATTRACTIVE OPPORTUNITIES IN THE IDAAS MARKET 29
4.2 ASIA PACIFIC IDENTITY AS A SERVICE MARKET, BY VERTICAL AND COUNTRY 29
4.3 IDENTITY AS A SERVICE MARKET: MAJOR COUNTRIES 30
5 MARKET OVERVIEW AND INDUSTRY TRENDS 31
5.1 INTRODUCTION 31
5.2 MARKET DYNAMICS 31
5.2.1 DRIVERS 32
5.2.1.1 Obligations to follow regulatory mandates and data protection laws 32
5.2.1.2 Growing demand for cloud-based security solutions and services 32
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5.2.2 RESTRAINTS 33
5.2.2.1 Budgetary limitations to inhibit the adoption of IDaaS solutions 33
5.2.2.2 Organizations’ hesitations about cloud-based security adoption 33
5.2.3 OPPORTUNITIES 33
5.2.3.1 Addition of AI and ML technologies to improve identity management 33
5.2.4 CHALLENGES 34
5.2.4.1 Rise in IT infrastructure complexities 34
5.3 USE CASES 34
5.3.1 USE CASE: SCENARIO 1 34
5.3.2 USE CASE: SCENARIO 2 35
5.3.3 USE CASE: SCENARIO 3 35
6 IDENTITY AS A SERVICE MARKET, BY COMPONENT 36
6.1 INTRODUCTION 37
6.2 PROVISIONING 38
6.2.1 PROVISIONING IS ONE OF THE CORE OF ACCESS RIGHTS COMPLIANCES AND ENFORCEMENT INITIATIVES 38
6.3 SINGLE SIGN-ON 39
6.3.1 SINGLE SIGN-ON TO SAVE A LOT OF TIME FOR USERS BY AUTHENTICATING THE USER FOR ALL THE APPLICATIONS 39
6.4 ADVANCED AUTHENTICATION 40
6.4.1 GROWING CONCERNS OF THEFTS AND DATA BREACHES OF SENSITIVE INFORMATION FROM ORGANIZATION’S ELECTRONIC DEVICES INCREASED THE GROWTH OF ADVANCED AUTHENTICATION 40
6.5 AUDIT, COMPLIANCE, AND GOVERNANCE 41
6.5.1 STRINGENT REGULATORY COMPLIANCES FOR AUDIT, COMPLIANCE, AND GOVERNANCE SOLUTION TO GROW IN THE FUTURE 41
6.6 DIRECTORY SERVICES 42
6.6.1 DIRECTORY SERVICES TO DELIVER THE ACCESS CONTROL TO USERS BASED ON CENTRALIZED POLICY AND RULES 42
6.7 PASSWORD MANAGEMENT 43
6.7.1 INCREASING NUMBER OF USERS AND DEVICE IDENTITIES AND THEIR NEED TO ACCESS THE SYSTEMS AND APPLICATIONS IN AN ORGANIZATION TO FUEL THE GROWTH OF THE PASSWORD MANAGEMENT SEGMENT 43
7 IDENTITY AS A SERVICE MARKET, BY DEPLOYMENT TYPE 44
7.1 INTRODUCTION 45
7.2 PUBLIC CLOUD 46
7.2.1 LOW COST AND INCREASED SECURITY CAPABILITIES TO RESULT IN RISING POPULARITY OF PUBLIC CLOUD 46
7.3 PRIVATE CLOUD 47
7.3.1 PRIVATE CLOUD TO GAIN POPULARITY AMONG ENTERPRISES REQUIRING BETTER CONTROL OVER DATA AND CLOUD COMPLIANT OFFERINGS 47
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7.4 HYBRID CLOUD 48
7.4.1 HYBRID CLOUD TO GAIN A HUGE TRACTION DUE TO SEVERAL BENEFITS IT OFFER TO ENTERPRISES 48
8 IDENTITY AS A SERVICE MARKET, BY ORGANIZATION SIZE 49
8.1 INTRODUCTION 50
8.2 SMALL AND MEDIUM-SIZED ENTERPRISES 51
8.2.1 SMALL AND MEDIUM-SIZED ENTERPRISES TO ADVANCE TOWARD VIRTUALIZATION FOR ACHIEVING LOW OPERATIONAL COSTS AND CAPITAL EXPENDITURE ADVANTAGES 51
8.3 LARGE ENTERPRISES 52
8.3.1 INCLINATION TOWARD IDENTITY AS A SERVICE BY LARGE ENTERPRISES TO PROVIDE A COMMON PLATFORM TO THE COMPLEX AND DISPERSED COMPUTING ENVIRONMENT AND MANAGEMENT OF IDENTITIES 52
9 IDENTITY AS A SERVICE MARKET, BY VERTICAL 53
9.1 INTRODUCTION 54
9.2 BANKING, FINANCIAL SERVICES AND INSURANCE 55
9.2.1 RISE IN IMPERSONATION FRAUD INCIDENTS AND IDENTITY ATTACKS ON BANKS AND FINANCIAL INSTITUTES TO FOSTER THE ADOPTION OF IDENTITY AS A SERVICE SOLUTIONS 55
9.3 TELECOM AND IT 56
9.3.1 NEED TO MANAGE THE HUGE DATABASES OF IDENTITIES GENERATED IN THE TELECOM AND IT VERTICAL TO DRIVE THE ADOPTION OF IDENTITY AS A SERVICE 56
9.4 RETAIL AND CONSUMER GOODS 57
9.4.1 CONSTANT NEED TO MANAGE LARGE DATABASES OF CONSUMER IDENTITY IN THE RETAIL VERTICAL TO DRIVE THE DEMAND FOR IDENTITY AS A SERVICE SOLUTIONS 57
9.5 PUBLIC SECTOR 58
9.5.1 RISE IN CORRUPTION AND BRIBERY TO RAISE THE NEED OF IMPROVED CLOUD-BASED IDENTITY MANAGEMENT SOLUTIONS AND SERVICES 58
9.6 ENERGY AND UTILITIES 59
9.6.1 IDENTITY AS A SERVICE SOLUTIONS TO ENHANCE OPERATIONAL EFFICIENCY AND MITIGATE POTENTIAL IDENTITY-BASED THREATS IN THE ENERGY AND UTILITIES VERTICAL 59
9.7 MANUFACTURING 60
9.7.1 GROWING ADOPTION OF SECURITY SOLUTIONS AND SERVICES IN THE MANUFACTURING VERTICAL TO DRIVE THE GROWTH OF THE IDENTITY AS A SERVICE MARKET 60
9.8 HEALTHCARE 61
9.8.1 INCREASING NUMBER OF PATIENT IDENTITY THEFTS TO DRIVE THE DEMAND FOR IDENTITY AS A SERVICE SOLUTIONS IN THE HEALTHCARE VERTICAL 61
9.9 EDUCATION 62
9.9.1 TECHNOLOGICAL ENHANCEMENTS IN EDUCATION TO DRIVE THE DEMAND FOR IDENTITY AS A SERVICE SOLUTIONS 62
9.10 OTHERS 63
10 IDENTITY AS A SERVICE MARKET, BY REGION 64
10.1 INTRODUCTION 65
10.2 NORTH AMERICA 66
10.2.1 UNITED STATES 69
10.2.1.1 Increasing demand for adoption of digital identities in the government and public sector to drive the adoption of identity as a service solutions in the US 69
10.2.2 CANADA 69
10.2.2.1 Rise in false transactions in Canada to increase the adoption of identity as a service 69
10.3 EUROPE 70
10.3.1 UNITED KINGDOM 72
10.3.1.1 Emphasis on securing citizens’ identities and addressing GDPR requirements to drive the identity as a service market growth in the UK 72
10.3.2 GERMANY 72
10.3.2.1 Growing use of the internet to push the demand for data and identity security against attacks in Germany 72
10.3.3 REST OF EUROPE 72
10.4 ASIA PACIFIC 73
10.4.1 CHINA 76
10.4.1.1 Increased demand for online identity verification to prove Chinese nationals’ identity and new cyber policies to foster the adoption of identity as a service 76
10.4.2 JAPAN 76
10.4.2.1 Rise in money laundering and identity impersonation to boost the adoption of identity as a service in Japan 76
10.4.3 INDIA 76
10.4.3.1 Increased adoption rate of cloud-based security solutions to contribute to the growth of identity as a service 76
10.4.4 REST OF ASIA PACIFIC 76
10.5 MIDDLE EAST AND AFRICA 77
10.5.1 UNITED ARAB EMIRATES 79
10.5.1.1 Increased need to prevent identity thefts to fuel the demand for identity as a service in the UAE 79
10.5.2 SAUDI ARABIA 79
10.5.2.1 Government initiatives to improve the security landscape to offer opportunities for the identity as a service market in Saudi Arabia 79
10.5.3 SOUTH AFRICA 79
10.5.3.1 Rapid adoption of the latest technologies to provide opportunities to identity as a service providers in South Africa 79
10.5.4 REST OF MIDDLE EAST AND AFRICA 80
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10.6 LATIN AMERICA 80
10.6.1 MEXICO 82
10.6.1.1 Growing adoption of cloud-based solutions to increase the demand for identity as a service in Mexico 82
10.6.2 BRAZIL 82
10.6.2.1 Digital transformation initiatives across verticals, such as BFSI, retail, manufacturing, and healthcare 82
10.6.3 REST OF LATIN AMERICA 82
11 COMPETITIVE LANDSCAPE 83
11.1 OVERVIEW 83
11.2 COMPETITIVE SITUATION AND TRENDS 84
11.2.1 NEW PRODUCT LAUNCHES AND PRODUCT ENHANCEMENTS 84
11.2.2 AGREEMENTS AND PARTNERSHIPS 85
11.2.3 ACQUISITIONS 86
11.3 MARKET RANKING OF KEY PLAYERS 86
12 COMPANY PROFILES 87
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MNM View)*
12.1 OKTA 87
12.2 PING IDENTITY 91
12.3 IDAPTIVE 95
12.4 MICROSOFT 97
12.5 ORACLE 100
12.6 ONELOGIN 103
12.7 IBM 106
12.8 GOOGLE 108
12.9 SALESFORCE 111
12.10 CA TECHNOLOGIES 113
12.11 SAILPOINT TECHNOLOGIES 115
12.12 SIMEIO SOLUTIONS 116
12.13 JUMIO 116
12.14 CONNECTIS 117
12.15 AUTH0 117
12.16 ONE IDENTITY 118
12.17 JUMPCLOUD 118
12.18 HCL 119
12.19 CAPGEMINI 119
12.20 GEMALTO 120
*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MNM View not be captured in case of unlisted companies.
13 APPENDIX 121
13.1 INDUSTRY EXPERTS 121
13.2 DISCUSSION GUIDE 122
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 125
13.4 AVAILABLE CUSTOMIZATIONS 127
13.5 RELATED REPORTS 127
13.6 AUTHOR DETAILS 128