The Latin America, Middle East and Africa Identity As A Service Market would witness market growth of 25.8% CAGR during the forecast period (2022-2028).
Identity as a Service (IDaaS) solutions are expected to become more popular as a result of rising demand for cloud-based security services and solutions led to concerns about data security. Identity and access management solutions are needed by organizations since they must grant access to employees who operate remotely whilst maintaining security compliance.
IDaaS solutions are in high demand due to stringent regulatory requirements and data protection rules. Organizations are being forced to take extra precautions in safeguarding user accounts of their internal workforce, contractors, and end users as a result of stringent international regulations and compliance regarding identity theft, like the General Data Protection Regulation (GDPR) as well as Health Insurance Portability and Accountability Act (HIPAA).
One of the greatest ICT (information and communications technology) markets in Africa is found in South Africa. It demonstrates technological superiority in the areas of mobile software, security software, and online banking services. The ICT and electronics industry in South Africa are both developed and sophisticated, and it is a growing contributor to the country's GDP. The majority of the new fixed and wireless telecoms networks set up across the continent in recent years have been supplied by South African businesses and locally based subsidiaries of multinational businesses. Thus, the growth of the Identity As A Service Market in the region is expedited.
The Brazil market dominated the LAMEA Identity As A Service Market by Country in 2021; thereby, achieving a market value of $339.1 million by 2028. The Argentina market would witness a CAGR of 26.5% during (2022 - 2028). Additionally, The UAE market is exhibiting a CAGR of 25.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Identity as a Service Market is Predict to reach $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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