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3. Unveiling Trends in IDaaS Market: Zero Trust, Biometrics, AI Security

According to projections, the size of the worldwide IDaaS market would increase at a Compound Annual Growth Rate (CAGR) of 25.0% between 2023 and 2028, from USD 7.0 billion to USD 21.4 billion. The IDaaS industry is growing as a result of an increase in identity and authentication fraud.

The adoption of IDaaS solutions is anticipated to be significantly influenced by compliance management, given the substantial expenses linked to non-adherence to regulatory requirements. Due to the growing need for authenticity requirements, it is anticipated that laws and regulations like the Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley (SOX), Payment Card Industry Data Security Standard (PCI-DSS), and General Data Protection Regulation (GDPR) will be further updated in the upcoming years.

The IDaaS (Identity as a Service) market is continually evolving to address new challenges and opportunities in the digital landscape. Several emerging trends are shaping the global IDaaS market:

• Zero Trust Security
• Integration with DevOps and CI/CD Pipelines
• Biometric Authentication
• Identity Governance and Administration (IGA) Capabilities
• Machine Learning and AI-driven Security
• Identity Analytics and Risk-based Authentication
• Containerization and Microservices Architecture

These emerging trends reflect the evolving nature of identity and access management in response to technological advancements, changing security threats, and evolving business requirements. As the IDaaS market continues to mature, organizations can expect further innovations and enhancements to address their evolving security and compliance needs.

To know about the assumptions considered for the study download the pdf brochure

Zero Trust Security:

Zero Trust has gained significant traction as a security model that assumes no implicit trust of users, devices, or applications, both inside and outside the corporate network. IDaaS solutions are increasingly incorporating Zero Trust principles by implementing continuous authentication, least privilege access, and micro-segmentation to enhance security posture.

Integration with DevOps and CI/CD Pipelines:

As organizations adopt DevOps practices and continuous integration/continuous deployment (CI/CD) pipelines, there is a growing need to integrate identity and access management into these workflows seamlessly. IDaaS solutions are providing APIs and integrations that enable developers to incorporate authentication and authorization into their applications and workflows efficiently.

Biometric Authentication:

With the proliferation of mobile devices equipped with biometric sensors (such as fingerprint scanners and facial recognition), biometric authentication is becoming more prevalent in IDaaS solutions. Biometric authentication enhances security while offering a frictionless user experience, leading to increased adoption in various industries.

Identity Governance and Administration (IGA) Capabilities:

As regulatory compliance requirements become more stringent, organizations are placing greater emphasis on identity governance and administration (IGA) capabilities within IDaaS solutions. These capabilities include access certification, role-based access control (RBAC), segregation of duties (SoD) controls, and privileged access management (PAM) to ensure compliance and reduce security risks.

Machine Learning and AI-driven Security:

Machine learning and artificial intelligence (AI) are being leveraged in IDaaS solutions to enhance security by detecting anomalous user behavior, predicting potential security threats, and automating incident response. These technologies enable IDaaS platforms to adapt to evolving threats and provide proactive security measures.

Identity Analytics and Risk-based Authentication:

Identity analytics solutions are being integrated into IDaaS platforms to provide insights into user behavior and identify potential security risks. By analyzing user activities, access patterns, and contextual information, identity analytics help organizations make informed decisions about access privileges and authentication methods, leading to better risk management.

Containerization and Microservices Architecture:

As organizations embrace containerization and microservices architecture for building and deploying applications, IDaaS solutions are adapting to provide identity and access management capabilities that are compatible with these modern architectures. This includes support for securing containerized workloads, managing service-to-service authentication, and integrating with container orchestration platforms like Kubernetes.

Related Reports:

IDaaS Market by Component (Provisioning, Single Sign-on, Advance Authentication, Audit, Compliance, and Governance, Directory Services, Password Management), Deployment type, Verticals and Region - Global Forecast to 2028