The Europe Identity As A Service Market would witness market growth of 21.4% CAGR during the forecast period (2022-2028).
Some distributed transaction systems, such as internetworks and cloud computing systems, exacerbate the issues addressed with by identity management systems by making an intruder more vulnerable than they would be on a private network. In order to validate an object's permission, a secure network schema bases this on the object's identification, regardless of whether it is used to protect against network congestion, grant privileged element access, or any other declared right or privilege.
Therefore, proving individual's identity is essential to earning their credibility and to everything else that an item looks to claim ownership over. An identity describes a set of characteristics or attributes that make something recognized or known. In computer network systems, an individual's digital identity is what is most important. An attribute or metadata of any object associated to another element that allows an element to be identified is called as Digital Identity.
As organizations integrate IoT more closely with core company activities, the IDaaS market is expanding exponentially, which has increased the demand for new approaches to identity management procedures. The IDaaS industry has grown significantly in recent years due to the availability of next-generation technologies, like cloud computing and artificial intelligence (AI).
Germany has a robust healthcare system, particularly in terms of hospital beds, infrastructure, and skilled personnel. In Germany, the healthcare industry accounts for one in every six employees and has an economic impact of EUR 678.2 billion (USD 798 billion) or around 12% of Germany's GDP. HCT contributes 8.3% of Germany's overall exports, or EUR 131.2 billion (USD 154.4 billion), through foreign sales. With the highly fragmented healthcare industry of the region, the risk of cyber-attacks is also increasing in the region, which is propelling the demand for enhanced cyber protection. Therefore, this factor is stimulating the growth of the regional identity as a service market.
The Germany market dominated the Europe Identity As A Service Market by Country in 2021; thereby, achieving a market value of $1,219 million by 2028. The UK market would experience a CAGR of 20.4% during (2022 - 2028). Additionally, The France market is experiencing a CAGR of 22.3% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Identity as a Service Market will Hit $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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