Global Identity As A Service Market Size By Component, By End User, By Geographic Scope And Forecast

Report Highlights

Identity as a Service Market Size And Forecast
Identity as a Service Market was valued at USD 4.09 Billion in 2019 and is projected to reach USD 17.92 Billion by 2027, growing at a CAGR of 20.3% from 2020 to 2027.

Global Identity as a Service Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

IoT adoption is on the rise with the development in IoT and increasing use cases and benefits with the integration with existing technology. According to Forbes, security, uncertain ROI and integration with existing technology are the biggest barriers to adoption of IoT. Enterprises today are investing hugely in security which calls for the use of IDaaS integration with the existing systems. The rise of cloud-based applications is on the rise due to flexibility and reduced hardware investment attached to it. Due to this there is a rising need for cloud-based authentication and identity management to ensure proper and effective control over the usage. IoT requires giving access to software applications, files, resources at the right time. Often these devices are employed on site which requires cloud-based integration. Public network cloud prove to be more vulnerable than private clouds due the increased cyber risks and reduced protection measures. The increase in the number of cyber-attacks, social engineering, phishing activities and other cyber malpractices makes it paramount to have robust data management and identity management tools which drives the demand for IDaaS

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Identity as a Service Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.