The Growing Need for IDaaS in Modern Identity Management
Identity-as-a-Service (IDaaS) refers to cloud-based identity and access management (IAM) solutions delivered over the internet. IDaaS provides centralized management of users' digital identities and enables single sign-on (SSO) for secure access across applications and devices.
The global IDaaS market is forecast to grow from $3.74 billion in 2023 to $21.87 billion by 2032, exhibiting a CAGR of 24.70%. This explosive growth is driven by the greater convenience, security, and scalability offered by IDaaS solutions compared to traditional on-premise IAM software.
Benefits Driving IDaaS Adoption
Organizations are prioritizing IDaaS adoption to reap the following key benefits:
- Improved user experience - SSO provides easy access across cloud apps/portals using one set of credentials
- Enhanced security - Centrally manages identities and controls access rights from a single platform
- Increased productivity - Automates manual identity processes saving IT time and costs
- Greater scalability - Cloud-based, pay as you go model handles growing users and applications
- Regulatory compliance - Helps meet security mandates through access controls and audit logs
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Major IDaaS Market Trends
The top trends shaping IDaaS market growth include:
- Rising cloud adoption driving demand for cloud-based IAM
- Growth in remote work spurring need for enhanced identity security
- Increasing cyber threats requiring robust access controls and authentication
- Integration of emerging technologies like AI, ML, and biometrics into IAM
- Growing regulatory complexity around data privacy and user access control
While large enterprises currently dominate adoption, small and mid-sized businesses (SMBs) are an emerging high growth segment. SMBs often lack robust IAM capabilities internally so IDaaS provides a flexible and affordable solution to modernize identity management.
Leading IDaaS Providers
Major IDaaS vendors include Microsoft, Google Cloud, Okta, IBM, and Amazon Web Services. These providers offer capabilities like:
- Cloud directory for storing identity profiles and credentials
- Single sign-on and multi-factor authentication
- Access management to applications and infrastructure
- Reporting, monitoring, and risk analytics
- Expert managed services for deployment and maintenance
As digital transformation accelerates across sectors, IDaaS will play a pivotal role in securing an increasingly complex IT ecosystem. IDaaS allows organizations to enhance identity security, meet compliance needs, and deliver seamless user experiences - all from the cloud.
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