during the forecast period. Some factors driving the market growth are government initiatives and regulations to support digital identity transformation, government regulations and the need for compliance, and the increase in identity and authentication fraud.
NEW YORK, Oct. 11, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, “IDaaS Market by Component, Organization Size, Deployment Type, Vertical and Region – Global Forecast to 2027” – https://www. reportlinker.com/p05815911/?utm_source=GNW
However, corporate reluctance to adopt cloud-based security and lack of information security of consumer data are expected to hamper market growth.
• By organization size, SMEs grow at the highest CAGR over the forecast period
Small and medium-sized businesses (SMEs) across a wide range of industries are undergoing digital transformation and using cloud computing to achieve low operational costs, increase mobility, gain investment advantages and get rid of on-premises technologies. Intruders use automated techniques to attack SME networks to exploit their weak security infrastructures.
Therefore, to save money, time and resources, SMBs are looking for cybersecurity solutions like IDaaS that can protect their business from cybersecurity damage. In addition, governments are acting to protect SMEs in their own countries.
SMBs are vulnerable to new security issues as they increasingly implement digitization. As a result, SMB IT departments are investing in implementing advanced security solutions such as IDaaS.
Thus, the SMEs are expected to grow at the highest CAGR in the forecast period.
• By Industry: The BFSI industries account for a larger market size during the forecast period.
With the use of cutting-edge technologies such as AI, machine learning, cloud computing and blockchain, the BFSI sector is in a state of technological advancement. Customers are looking for convenience in services such as e-banking and mobility, which is driving digitization in the BFSI sector.
While it has proven incredibly easy for consumers, it has also led to a rise in ransomware, identity fraud, data theft, and other cybercrimes. To protect its system from cyber attacks and to secure its customers’ sensitive data, the BFSI Vertical is increasingly relying on security solutions such as IDaaS.
This has resulted in the BFSI vertical being responsible for a larger market size over the forecast period.
• By organization size, large companies will grow with the largest market size in the forecast period
Large companies are more likely to adopt IDaaS solutions due to huge budgets for implementing top
Notch security solutions and the strong demand for real-time auditing and monitoring of the growing IoT
Traffic. With an increase in identity theft and data breaches, large organizations are at high risk
cyber attack. Therefore, to protect their brand image and gain the trust of their long-term customers
It has become crucial for them to implement cybersecurity solutions like IDaaS quickly. that it
Department in large companies has many different responsibilities than managing the organization
Security and therefore IDaaS solutions come to the rescue as they reduce the burden of responsibilities
including compliance, policies and governance. This in turn helps the big companies too
concentrate efficiently on their other tasks. Therefore, large companies are expected to grow
the highest market size during the forecast period.
Area code breakdown:
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the SOC-as-a-Service market.
• By company type: Tier 1: 25%, Tier 2: 40% and Tier 3: 35%
• By designation: C-Level: 30%, Directors: 35% and Others: 35%
• By region: North America: 15%, APAC: 30%, MEA: 10%, Europe: 25%, Latin America: 20%
Key vendors in the global IDaaS market include Okta (US), CyberArk (US), Thales (France), Microsoft (US), Ping Identity (US), OneLogin (US), IBM (US), Oracle (US). ) and Google (US) and SailPoint (US), JumpCloud (US), SecureAuth (US), Auth0 (US), OpenText (Canada), Ilantus (US), LoginRadius (Canada), Delinea (US), Optimal IdM ( USA) , Fischer Identity (USA), Atos (France), Avatier (USA), Simeio Solutions (USA), HCL (India), Capgemini (France), Broadcom (USA), Salesforce (USA), Jumio (USA), Signicat (Norway), Ubisecure (UK) and EmpowerID (US).
The study includes an in-depth competitive analysis of the key players operating in the IDaaS market, with their company profiles, recent developments, and key market strategies.
The report segments the IDaaS market and forecasts its size by component (deployment, single sign-on, advanced authentication, audit, compliance and governance, directory service and password management), organization size (SMB and enterprise), and deployment type (public cloud, private cloud and Hybrid Cloud), Vertical (BFSI, IT and ITeS, Energy and Utilities, Government, Manufacturing, Healthcare, Retail and Consumer Goods and Other Industries), and Region (North America, Europe, Middle East, and Africa, Asia Pacific and Latin America).
The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of purchasing the report
The report will assist the market leaders/newcomers with information on the most accurate approximations to the revenue figures for the entire IDaaS market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan appropriate go-to-market strategies.
The report also helps stakeholders to understand the pulse of the market, providing them with information on the major market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05815911/?utm_source=GNW
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