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
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
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.
- 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
- Lack of Awareness About Identity Standardization
- Organizations’ Need for Remote Access Due to IoT and BYOD Trends
- Proliferation of Cloud-Based SAML Authentication Solution and Services Among Global Organizations
- A Single Point of Failure to Affect the Authentication Process
- Ping Identity
- SSO Easy
- RCDevs S.A.
- Ariel Software Solutions
For more information about this report visit https://www.researchandmarkets.com/r/6spfr9
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SOURCE: Research and Markets
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PUB: 05/23/2019 07:39 AM/DISC: 05/23/2019 07:39 AM