IDaaS Market Trends, Share, Growth, Innovation and Forecast
2028

The global IDaaS
Market size is projected to grow from USD 7.0 billion in 2023 to USD
21.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 25.0% during
the forecast period. The rise in identity and authentication frauds and the
adoption of advanced authentication techniques across verticals drive the
growth of the IDaaS market. Moreover, ownership and privacy challenges may
hinder market growth.

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IDaaS Market
Dynamics

Drivers

·       Government initiatives and
regulations to support digital identity transformation

·       Need for effective compliance
management

Restraints

·       Reluctance of organizations in
adopting cloud-based security

·       Lack of data security

Opportunities

·       Rising focus of organizations on
enhancing user experience

·       Integration of AI, ML, and blockchain
technologies to enhance digital identities

List of
Top Companies

·       Okta (US)

·       Microsoft (US)

·       Thales (France)

·       Ping Identity (US)

·       IBM (US)

·       Atos (France)

·       Oracle (US)

·       Salesforce (US)

·      
Google
(US)

Based on component, the single sign-on is expected to grow at
a highest CAGR during the forecasted period.

Single Sign-on (SSO) is a form of authentication by which
users can access multiple computer platforms or applications present
on-premises of an organization or through the cloud by logging in only once.
The process saves a lot of time for users by authenticating users for all the
applications they have been entitled to. SSO enables them to focus on a
required task without remembering multiple usernames and password combinations.
?    SSO lowers IT costs by saving time on password resets. When
apps require a different username and password for every employee, there is a
high chance that employees will forget passwords—which means help tickets for
password reset pile up. Technologies like AI enable SSO systems to track user
activity constantly during a session, guaranteeing that only authorized users
can access secured resources.

By deployment type, private cloud segment is expected to grow
at a highest CAGR during the forecast period.

Private cloud refers to computing wherein the computing
resource is accessed by a single organization and restricted to external
entities. Organizations that invest in their on-premises data centers can also
use it as a private deployment type. Private Cloud enables a company to have
better control over its data and reduce risks, such as data loss and issues
related to regulatory compliance. The flexibility allows businesses to adapt
identity management services to their unique workflows and compliance requirements,
ensuring that the solution aligns precisely with their operational goals.
Private cloud IDaaS solutions provide organizations with a greater degree of
control and data sovereignty. It is particularly appealing to businesses
operating in highly regulated industries or regions with strict data privacy
requirements.

By region, Asia Pacific is expected to grow at the highest
CAGR during the forecast period.

Asia Pacific region consists of some of the fastest growing
economies like India and China. Asia Pacific has seen cutting-edge technology's
advanced and rapid adoption as a profitable security product and service
market. Even though the area implements the most recent security solutions, it
is frequently the target of attacks. Developing countries such as India are
moving towards the rapid digitalization of processes through different
initiatives taken by governments to increase the use of mobile applications and
web-based applications across sectors such as BFSI, retail, and IT. The growing
digitization in the Asia Pacific is driving IDaaS demand.

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