The Asia Pacific Identity As A Service Market would witness market growth of 22.8% CAGR during the forecast period (2022-2028).
The adoption of IoT is being seen on a large scale, and as new IoT developments have been made, the benefits have increased thanks to the integration of already existing technology. Because of its flexibility and lower investment requirements, cloud-based apps have seen an increase in growth.
It is crucial to ensure proper and efficient control over usage given the growing demand for cloud-based authentication as well as identity management. Additionally, it is anticipated that the demand for (IDaaS) would rise in coming years due to an increase in the integration of digital payment systems in banking, government services, and other industries.
Other factors that will drive the market's growth include an increase in the amount of money that government organizations and businesses spend on security solutions in order to comply with regulations and stop identity theft. Due to identity management's ability to provide precise and effective usage control and the growing demand for cloud-based authentication, IDaaS is in demand. Several government agencies currently make use of this technology, along with significant international corporations.
India's manufacturing sector contributed approximately 16–17% of the GDP of the nation. Machine tool manufacturing fundamentally served as the industrial sector's cornerstone in India. Technology has today encouraged creativity, with digital transformation being a critical element in gaining an advantage in this increasingly competitive industry. IoT is anticipated to have a big impact on industrial businesses by creating a network of networked machines, systems, devices, and people. Owing to a rise in the integration of IoT within the manufacturing industry in the region, the demand for identity as a service is also rising and therefore, the growth of the regional market is being spurred.
The China market dominated the Asia Pacific Identity As A Service Market by Country in 2021; thereby, achieving a market value of $1,403.2 million by 2028. The Japan market is exhibiting a CAGR of 22% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 23.5% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Identity as a Service Market is Projected to reach USD 19 Billion by 2028, at a CAGR of 21.9%
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.)
By Component Type
By End User
By Country
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