The cloud authentication market is projected to reach US$ 12,753.4 million in value by 2032 with a CAGR of 14.4%. In 2022, the market’s value will be $11,279.2 million. With a lower demand growth rate of 12.6% from 2018 to 2022, the market had a value of US$ 10,020.0 million in 2021.
The major drivers propelling the growth of the cloud authentication market are the government’s adoption of new identity and access management standards and the remarkable increase in cloud usage. As cloud authentication gets popularity in the BFSI, IT & telecom, and retail sectors, it is projected that the global market will expand quickly.
Additionally, cloud services are projected to become more popular as a result of the industrial developments taking place in developing economies.
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The cloud authentication market refers to the industry that produces and sells solutions for authenticating users and devices in cloud-based environments. These solutions enable secure access to cloud-based applications and data by verifying the identity of users and devices.
The market for cloud authentication is driven by the increasing adoption of cloud-based services and the need for secure and efficient authentication solutions. Cloud authentication solutions provide organizations with the ability to manage access to cloud-based resources from a centralized location, while also offering advanced security features such as multi-factor authentication and risk-based authentication.
Key Players
IBM
Microsoft
CA. Inc
Secureworks Inc.
Oracle Corporation
Intel Corporation
Onelogin Inc.
Hewlett Packard Enterprise Development LP
Sailpoints Technology Holdings Inc.
Ping Identity
The cloud authentication market is expected to continue growing in the coming years, driven by the increasing adoption of cloud-based services across various industries. The market is also likely to benefit from the growing need for advanced security solutions to protect against cyber threats such as data breaches and unauthorized access to sensitive information.
A provider of cloud authentication services focuses on e-commerce to increase its opportunities
The e-commerce industry is anticipated to grow at the fastest rate during the forecast period. Through a number of channels, the vertical sells consumer goods and services to its clients.
E-commerce is also among the most cost-conscious industries and one of the companies that hackers target the most due to the potential for payments and the enormous volume of financial transactions made using credit and debit cards. The adoption of cloud authentication is therefore regarded as the safest choice for businesses.
Additionally, it is predicted that as the supply chain, labour, distribution partners, and customers become more complicated, merchants will be more likely to use cloud authentication services.
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Key segments
By Type:
Single
Multifactor
By Enterprise Size:
Small Offices (1-9 employees)
Small Enterprises (10-99 employees)
Medium-sized enterprise (100-499 employees)
Large Enterprises (500-999 employees)
Very Large Enterprises (1000+ employees)
By Industry:
Service
Distribution Services
Public Sector
Finance
Manufacturing Resources
Infrastructure
By Region:
North America
Latin America
Europe
East Asia
South Asia and the Pacific
Middle East & Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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