Showing posts with label Governance. Show all posts
Showing posts with label Governance. Show all posts

IDaaS Market Expansion Driven by Digitalization and Security Needs

According to the latest market research study published by P&S Intelligence, the global identity-as-a-service (IDaaS) market is set to experience rapid expansion, with a projected increase from USD 8,938 million in 2024 to USD 35,309 million by 2030, growing at a compound annual growth rate (CAGR) of 25.7%. The growth in the IDaaS market can be attributed to several key factors, including the rising incidences of identity and authentication fraud, the rapid adoption of digital technologies, and the increasing need for robust cybersecurity solutions in industries such as banking, finance, and healthcare. As digital transformation continues to accelerate, businesses are increasingly adopting cloud-based identity management services to streamline operations and enhance security. The surge in remote working, cloud-based services, and mobile applications has also highlighted the critical importance of securing user identities.

Technological advancements play a crucial role in driving market growth. AI and machine learning, coupled with biometric technologies, are enabling organizations to implement more sophisticated and adaptive identity management solutions. These technologies not only improve security but also provide businesses with scalable, flexible, and cost-effective solutions. The integration of multi-factor authentication (MFA) and behavior analytics further strengthens identity protection, making IDaaS solutions highly attractive for businesses aiming to minimize risks associated with cyber threats. North America continues to dominate the market, largely due to the presence of major market players, advanced technology infrastructure, and an increasing number of cybersecurity regulations. However, the Asia-Pacific region is projected to exhibit the highest growth rate, driven by a surge in digitalization and increasing concerns over data breaches.


Get the free sample now

Key Insights

Segmentation Analysis:

The market is segmented by service type, deployment model, and end user. Single Sign-On (SSO) accounts for the largest share of the IDaaS market, estimated to hold 40% of the market in 2024. This is primarily due to the growing demand for improved user experience and centralized access management across multiple platforms.

Advanced Authentication solutions, which include technologies like OTPs and biometric verification, are anticipated to grow at the highest CAGR. This segment is gaining popularity as organizations prioritize stronger, multi-layered authentication mechanisms to prevent identity theft and fraud.

When it comes to deployment models, Public Cloud is the dominant model, expected to account for 45% of the market in 2024. Public cloud-based solutions are highly preferred due to their scalability, cost-efficiency, and the growing acceptance of cloud computing across industries. Private Cloud deployments, however, are expected to grow rapidly at a CAGR of 27%, as enterprises in highly regulated sectors require more tailored and secure identity management solutions.

Regional and Geographical Trends:

North America currently holds the largest market share, driven by the early adoption of advanced IDaaS solutions, stringent regulatory requirements, and a large number of enterprises looking to protect sensitive data. The presence of leading market players such as Microsoft, IBM, and Okta further contributes to the region's dominance.

Asia-Pacific is anticipated to grow at the highest CAGR due to the region's increasing focus on digitalization and the implementation of stricter data protection regulations. Countries like China and India are seeing rapid technological advancements, with growing demand for secure identity management solutions in sectors like e-commerce, banking, and government services.

Technological Advancements:

Artificial Intelligence (AI) and Machine Learning (ML) are significantly transforming the IDaaS landscape. These technologies enable the development of intelligent identity solutions capable of detecting anomalous behavior, predicting potential security risks, and automating threat mitigation. AI-driven systems are increasingly used for risk-based authentication, where users are evaluated based on their behaviors rather than traditional static password-based methods.

The integration of biometric technologies, such as facial recognition, fingerprint scanning, and voice recognition, is helping businesses improve identity verification processes and enhance security. These biometric solutions are particularly useful in high-risk sectors like finance and healthcare, where identity protection is crucial.

Competitive Dynamics:

The IDaaS market is characterized by intense competition, with several key players dominating the landscape. Microsoft, IBM, and Okta are some of the leading players, offering comprehensive identity management solutions that cater to both large enterprises and small businesses. These companies are continuously innovating by adding features such as MFA, identity governance, and compliance management to enhance their offerings.

Small and medium-sized enterprises (SMEs) are increasingly adopting IDaaS solutions due to their cost-effectiveness and the ability to scale as businesses grow. The rise of Self-Service Password Reset (SSPR) tools, Federation, and Role-Based Access Control (RBAC) is further attracting SMEs looking for flexible and affordable identity management solutions.

New entrants in the market are focusing on offering highly customizable, secure, and compliant identity management solutions, positioning themselves as potential disruptors by catering to niche market needs.

The rapid adoption of IDaaS solutions is expected to continue driving market expansion, particularly as organizations look to secure their digital ecosystems, meet regulatory requirements, and enhance user experiences. As cyber threats evolve, businesses must remain proactive in embracing cutting-edge technologies to protect against identity-based attacks.

Share:

Governance Services to See Fastest Growth in Automation COE

According to the latest market research study published by P&S Intelligence, the automation center of excellence (COE) market is poised for significant growth, with projections estimating an increase from USD 520.7 million in 2024 to USD 3,856.6 million by 2030, reflecting a robust compound annual growth rate (CAGR) of 39.5%.

This surge is driven by the escalating demand for automation solutions across various industries, aiming to enhance operational efficiency and reduce costs. The adoption of robotic process automation (RPA) and artificial intelligence (AI) technologies plays a pivotal role in minimizing human intervention, thereby reducing errors and improving data accuracy. As organizations strive to automate both simple and complex tasks, the establishment of Automation COEs becomes increasingly critical in fostering innovation and maintaining a competitive edge.​


Download free Report Sample Now

Key Insights

Service Type Analysis:

Technology Assessment & Consulting services are anticipated to hold a substantial market share, assisting organizations in evaluating and selecting automation tools that align with their specific business needs.​

Governance services are projected to experience significant growth, emphasizing the need for effective management and oversight of automation initiatives to ensure alignment with organizational objectives and compliance standards.​

Organization Size Analysis:

Large enterprises are expected to dominate the market, leveraging their extensive resources to invest in advanced automation technologies and infrastructure. The complexity of their operations necessitates sophisticated automation solutions to enhance productivity and maintain a competitive advantage.​

Small and Medium-Sized Enterprises (SMEs) are forecasted to exhibit remarkable growth, driven by the increasing availability of affordable and user-friendly automation tools that enable them to adopt these technologies without significant upfront investment.​

End User Analysis:

The Banking, Financial Services, and Insurance (BFSI) sector is projected to account for a significant portion of the market share, as these institutions rely heavily on processing large volumes of transactions and adhering to stringent regulatory requirements, making automation essential for enhancing accuracy and efficiency.​

The IT & ITeS industry is anticipated to be among the fastest-growing end-user segments, driven by continuous technological innovations, including AI, machine learning, and cloud computing, which increase the demand for automation COEs to manage system complexities effectively.​

Regional Analysis:

North America is expected to hold the largest market share, attributed to the presence of leading service providers and substantial investments in research and development. The region's early adoption of advanced technologies and well-established infrastructure further bolster its market position.​

The Asia-Pacific region is identified as the fastest-growing market, with a projected CAGR of 41% during 2025–2030. This rapid growth is driven by the swift economic development of countries in this region, enabling them to invest in automation technologies to expand their operations globally. Additionally, the region's large production and industrial base continuously focuses on utilizing automation processes to enhance production efficiency and reduce costs.

Technological Advancements:

The integration of AI within automation COEs enhances the capability to automate complex tasks, thereby improving operational efficiency and delivering tangible business value. AI-driven automation facilitates better decision-making and fosters innovation across various business processes.​

Competitive Dynamics:

The market is characterized by a fragmented landscape with numerous key players, including SS&C Blue Prism Holdings Inc., UiPath Inc., Automation Anywhere Inc., and Digital Workforce Services Oy. These companies are focused on developing advanced automation tools and algorithms, as well as actively pursuing mergers and acquisitions to enhance their market presence and acquire new talent, further strengthening their competitive position.

As the Automation COE market continues to evolve, organizations across various sectors are increasingly recognizing the value of establishing dedicated centers to drive automation strategies, optimize processes, and achieve sustainable growth in an increasingly competitive landscape.
Share:

Popular Posts

Blog Archive