Identity as a Service Market [2022–2024] North America to lead the IDaaS market

1. Downloaded from: justpaste.it/4t0gw Identity as a Service Market North America to lead the IDaaS market during the forecast Identity as a Service Market [2022–2024] North America to lead the IDaaS market during the forecast period — MarketsandMarkets™ According to a research report “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”, published by MarketsandMarkets, the IDaaS market size is expected 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 growing demand for cloud-based security solutions and services, and obligations to follow regulatory mandates and data protection laws are some of the major drivers of this market. Request for free sample copy @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=32235637 By deployment type, the hybrid cloud segment to grow at the highest CAGR during the forecast period Several benefits offered to enterprises to lead the hybrid cloud in gaining huge traction. The major factors that are expected to drive the growth of the hybrid cloud segment include the growing demand for organizations for agile, scalable, and cost-efficient computing; rising need of standards for interoperability between cloud services and existing systems; increasing demand to avoid vendor lock-in; and growing number of digital services and their applications. By vertical, the public sector segment to grow at the highest rate during the forecast period Cyber attackers always target government agencies to gain access to confidential government data. Governments in the emerging economies are deploying web and mobile applications to serve their citizens efficiently. Owing to this, the public sector and government organizations can handle data and consumer identities of a critical nature more efficiently. These applications are becoming the prime targets for the cybercriminals to access sensitive data. Identity frauds in the government/public sector vertical include misappropriation of assets, identity thefts, bribery and corruption, accounting frauds, data thefts, and money laundering. The incidents of identity thefts to access confidential government data are increased, which is resulting in the rise in the adoption of IDaaS solutions in government agencies. North America to lead the IDaaS market during the forecast period

2. Based on the region, North America is expected to lead the IDaaS market during the forecast period. It is the largest market for cybersecurity due to the rising incidents of data breaches and security threats. Moreover, the region is home to key IDaaS solution providers, such as Okta, Idaptive, Ping Identity, and OneLogin. The increasing number of cyberattacks to access confidential consumer data; the changing needs of the workforce; and adoption of cloud applications, bring your own device (BYOD), and mobile practices; along with the need to meet stringent compliance regulations, are driving the organizations in North America to adopt IDaaS solutions. As the awareness for IDaaS is increasing, various firms are putting efforts to discuss and develop ideas for better IDaaS solutions. North America constitutes developed economies, such as the US and Canada. Major vendors covered in the Identity as a Service Market 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). Okta, Inc. (US) and Ping Identity (US) are leading players in Identity as a Service Market Okta (US) is one of the leading providers of IDaaS, and identity and access management (IAM) solutions and services. It offers a robust set of solutions and services to help organizations with cloud-based identity management. The company has created a strong base in the IDaaS market by adopting different growth strategies, including new product launches, business expansions, and partnerships and acquisitions. Okta is also taking initiatives to invest funds in startups to boost innovations in cloud-based identity management products and solutions. For instance, Okta invested USD 50 million in Okta Ventures to encourage business ideas in the IDaaS market. Currently, Okta is focused on strengthening both organic and inorganic business growth strategies. As a part of an organic growth strategy, the company is taking constant effort to enhance its product portfolio by adding improved features. The enhancement made Okta a leading identity resource for software development and increased the company’s presence in the customer identity space. Moreover, as a part of the inorganic growth strategy in March 2019, the company acquired Azuqua, a provider of cloud- based application, to offer an enhanced flow of identities between applications and services to its customers. Ping Identity (US) is one of the leading providers in identity-defined security. It is an established innovator in the market for identity federation and cloud IAM. The company is highly engaged in standards initiatives, driving the development of standards in the IAM and IDaaS market space. PingOne Cloud is the IDaaS solution that Ping Identity offers in the market. This solution provides both identity federation and directory service capabilities. Ping Identity offers robust cloud-based offerings to provide enhanced identity management solutions. Ping Identity is rapidly evolving and expanding its footprint in the IDaaS market by

3. adopting different business tactics. It is focused on leveraging cutting-edge technologies, such as artificial intelligence (AI) and machine learning (ML), to differentiate its offerings in the IDaaS market. Ping Identity is evolving rapidly by strengthening organic and inorganic growth strategies. In recent times, the company has been emphasizing on launching new products, solutions, and frameworks to enhance its deployment abilities in the market and offer the best- user experience. It also emphasizes on business expansions, partnerships, and acquisitions to expand its identity management capabilities in the IDaaS market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1–888–600–6441 sales@marketsandmarkets.com