The Global Security Assertion Markup Language (SAML) Authentication Market is Expected to Reach $3 Billion by 2024, at a CAGR of 14.2% - ResearchAndMarkets.com
However, lack of awareness regarding SAML authentication solutions and services and identity standardization is still a point of concern for organizations.
The "Security
Assertion Markup Language (SAML) Authentication Market by Component
(Solution and Services), Deployment Mode (On-Premises and Cloud),
Organization Size (SMEs and Large Enterprises), Vertical, and Region -
Global Forecast to 2024" report has been added to ResearchAndMarkets.com's
offering.
Organizations' need to effectively manage large volumes of
identities to drive the SAML authentication market
The factors expected to drive the SAML authentication market are the
organizations' need to effectively manage large volumes of identities;
organizations' need to provide enhanced, consistent, and unified
identity security to customers and employees and enhance the operational
efficiency; and effective management of stringent regulatory
compliances. However, lack of awareness regarding SAML authentication
solutions and services and identity standardization is still a point of
concern for organizations.
Services segment to grow at a higher CAGR during the
forecast period
The SAML authentication market by service includes consulting, training
and education, and support and maintenance services. These services help
clients understand their SAML authentication software solutions and
related processes.
The solution segment is expected to hold a larger market size during the
forecast period. The SAML authentication solutions are being deployed by
a large number of Small and Medium-sized Enterprises (SMEs) to validate
the identity of their customers by identity providers and pass back the
identity tokens to the service providers. SAML software solutions secure
their organizations' infrastructure from unauthorized access in the
event of increasing cyber threats.
Increasing deployment of cloud-based SAML authentication
solutions in SMEs to drive the growth of the SMEs segment during the
forecast period
The SMEs segment is expected to grow at a higher CAGR, owing to the
rising deployment of cloud-based SAML authentication solutions by SMEs
to secure their web applications, mobile applications, mobile devices,
infrastructure, and Application Programming Interfaces (APIs) from
unauthorized access, vulnerabilities, and attacks. SMEs are small in
terms of their size but cater to a large number of customers globally.
Weak cybersecurity and low budget make the SMEs more susceptible to data
breaches and identity thefts as most of the organizations lack proper
security protocols.
However, the rising sophistication level of cyber-attacks and the
increasing need to protect their infrastructure and confidential data
from unauthorized access and identity impersonification would drive the
demand for SAML authentication solutions among SMEs. These solutions not
only enhance the security portfolio of SMEs but also enable them to
comply with regulations by ensuring customer data protection as well as
organization data protection from identity theft.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) includes major economies, such as India, China,
Australia, Hong Kong, and Japan, which are rapidly deploying the SAML
authentication solution. APAC is expected to grow at the highest CAGR
during the forecast period. The APAC SAML authentication market is
gaining traction, as this region is showing the highest growth of
Internet of Things (IoT), Bring Your Own Device (BYOD), and web
application adoption for business functions; this, in turn, increases
the need to secure these solutions against cyber threats, identity-based
threats, and attacks.
SMEs as well as large organizations in the APAC region have become more
aware of SAML authentication services and started adopting them to
combat identity-based threats and data thefts. Furthermore, North
America is estimated to have the largest market size in 2019 owing to
the presence of a large number of vendors rising sophistication level of
cyber-attacks and heavy financial losses in the advent of any identity
attack.
Market Dynamics
Drivers
- Organizations' Need to Effectively Manage Large Volumes of Identities
-
Organizations' Need to Provide Enhanced, Consistent, and Unified
Identity Security to Customers and Employees and Enhance the
Operational Efficiency - Effective Management of Stringent Regulatory Compliances
Restraint
- Lack of Awareness About Identity Standardization
Opportunities
- Organizations' Need for Remote Access Due to IoT and BYOD Trends
-
Proliferation of Cloud-Based SAML Authentication Solution and Services
Among Global Organizations
Challenge
-
A Single Point of Failure to Affect the Authentication Process
Company Profiles
- Gemalto
- Ping Identity
- AWS
- Microsoft
- Oracle
- miniOrange
- ManageEngine
- Onelogin
- Okta
- SSO Easy
- SAASPASS
- Auth0
- PortalGuard
- RCDevs S.A.
- Ariel Software Solutions
For more information about this report visit https://www.researchandmarkets.com/r/6spfr9
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