Scope of the Study
The global identity cloud service market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The obligations to follow regulatory mandates & data protection laws and increased security concerns demanding cloud-based cyber security solutions which are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified, by Application (Provisioning, Single Sign-On, Advanced Authentication, Audit, Compliance, and Governance, Directory Services and Password Management) and major geographies with country level break-up.
Microsoft (United States), Oracle (United States), IBM (United States), Google (United States), Salesforce.com (United States), CA Technologies (United States), HCL Technologies (India), Capgemini (France), Gemalto (United States), JumpCloud, Inc. (United States), One Identity LLC (United States), Ping Identity (United States), Okta, Inc. (United States) and IDaptive, LLC (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Identity Cloud Service market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Identity Cloud Service market by Type, Application and Region.
On the basis of geography, the market of Identity Cloud Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Obligations to Follow Regulatory Mandates and Data Protection Laws
- Increased Security Concerns Both in the Public and Private Sector Enhanced the Demand for Cloud-Based Security Solutions and Services
- Implementation of Artificial Intelligence in Indentity Cloud Service
- The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
- Organizationsí Hesitations About Cloud-Based Security Adoption
- Opportunities in the Asia Pacific Region
- Rise in IT Infrastructure Complexities
In April 2020, Okta Inc, the leading independent provider of identity for the enterprise announced that it has introduced Okta Platform Services which enables Okta to meet unlimited workforce and customer identity use cases that customers and partners can access through out of the box products, APIs, and integrations.
Stringent Worldwide Government Regulations Regarding Shutting Down the Production & Services Across Different Countries of the World to Avoid the Spread of COVID-19
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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