North America Identity as a Service Market Size, Share & Industry Trends Analysis Report By Component Type, By End User (Public Sector, Telecom & IT, BFSI, Manufacturing, Healthcare and Education), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Identity As A Service Market would witness market growth of 21.2% CAGR during the forecast period (2022-2028).
Some aspects of the Identity as a Service solutions are supplied to other companies via a remote connection from a third party due to the as-a-service approach. It is the opposite of a function that is managed on-site and by internal staff. The fundamental objective of IDaaS is to give authorized individuals the proper kinds of access to documents, software programs, or other resources.
As a centralized cloud-based system created by identification experts, IDaaS is much simpler to implement. To cut operating expenses and increase transaction visibility, many governments and banking institutions are presently encouraging digital payments.
In the coming years, it is anticipated that the use of digitalized payment systems within banking as well as government services would increase demand for identity-as-a-service. Additionally, it is anticipated that the growth would be boosted by increased spending on security solutions by government organizations and commercial businesses to support regulatory compliance and prevent identity theft.
In North America, there has been an increase in the deployment of IoT positions in the private banking industry. In terms of IoT deployment, North America also remained the leader in the private banking sector. Therefore, the increased IoT integration among banks and other financial institutions is promoting regional IoT monetization market expansion. However, the integration of IoT also posed a number of challenges in front of the country’s growth. In order to address these challenges, financial institutions within the country are increasingly deploying identity as a service solution. This factor is bolstering the growth of the Identity As A Service Market in the region.
The US market dominated the North America Identity As A Service Market by Country in 2021; thereby, achieving a market value of $5,278.5 million by 2028. The Canada market is experiencing a CAGR of 23.9% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 22.9% during (2022 - 2028).
Based on Component Type, the market is segmented into Provisioning, Multifactor Authentication, Single Sign-On, Password Management, Directory Services and Audit, Compliance & Governance. Based on End User, the market is segmented into Public Sector, Telecom & IT, BFSI, Manufacturing, Healthcare and Education. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., Broadcom, Inc. (CA Technologies, Inc.), Ping Identity Holding Corp. (Vista Equity Partners), Okta, Inc., CyberArk Software Ltd. and OneLogin, Inc. (Quest Software Inc.)
Scope of the Study
Market Segments Covered in the Report:
By Component Type
- Multifactor Authentication
- Single Sign-On
- Password Management
- Directory Services
- Audit, Compliance & Governance
By End User
- Public Sector
- Telecom & IT
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Google LLC
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com, Inc.
- Broadcom, Inc. (CA Technologies, Inc.)
- Ping Identity Holding Corp. (Vista Equity Partners)
- Okta, Inc.
- CyberArk Software Ltd.
- OneLogin, Inc. (Quest Software Inc.)
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