The cloud authentication market is anticipated to grow at a 14.4% CAGR to reach a value of US$ 12,753.4 million by 2032. By 2022, the market is expected to be worth $11,279.2 million. In 2021, the market was valued US$ 10,020.0 million, with a lower demand growth rate of 12.6% between 2018 and 2022.
The notable surge in cloud usage and the government’s implementation of new identity and access management rules are the primary factors driving the growth of the cloud authentication industry. The worldwide market is expected to grow rapidly as cloud authentication gains traction in the retail, IT & telecom, and BFSI sectors.
Additionally, cloud services are projected to become more popular as a result of the industrial developments taking place in developing economies.
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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