Okta, Microsoft, IBM Corporation, are dominating the U.S. Identity as a Service (IDaaS) Market in 2020

U.S. Identity as a Service (IDaaS) Market is expected to grow with a CAGR of 15.7% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

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U.S. Identity as a Service (IDaaS) market is consolidated, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenarios.

The major players dealing in U.S. Identity as a Service (IDaaS) market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

• In February 2021, Ping Identity launched a new identity verification service named as PingOne Verify. This is a cloud-based service, which will help enterprises to verify customer identity for rapid account onboarding, authentication, and fraud prevention easily. PingOne Verify uses facial recognition technology to strengthen security. This will help the company to enhance its offerings and to grow in the market

Okta is the dominating player in U.S. Identity as a Service (IDaaS) market. The other key players existing in the market include Microsoft, IBM Corporation, among others.

Okta

Okta was incorporated in 2009 and is headquartered in California, U.S. The company is engaged in developing and providing identity solutions to customers. The product and solution categories of the company include Identity Cloud. The market-focused category is Identity Cloud.  

• In March 2021, Okta announced the acquisition of Auth0 for approximately USD 6.5 billion. Under this acquisition, Auth0 will continue to operate as an independent business within Okta, although the vendors' platforms will be integrated over time. Okta and Auth0 address a broad set of identity use cases. This will help the company grow in the market
• In April 2021, Okta announced launch of intelligent identity management solution named as Okta Identity Governance. Okta identity governance offers cloud first approach to identity governance and administration. It also delivers self-service identity governance and administration to the users. This will help the company enhance its offerings and grow in the market
• In October 2020, Okta announced the launch of customer identity workflows. This newly launched customer identity workflow enabled the product builders and I.T. professionals to automate the digital transformation identity processes. This has helped the company to enhance its offerings, and better meet consumers demand in the market

The company has a presence in North America, Europe, Asia-Pacific. In addition to it, the company also generates its revenue from various subsidiary companies such as Okta Australia Pty Ltd. (Australia), AuthClub Inc. (U.S.), SpydrSafe Mobile Security Inc. (U.S.), and among others.

MICROSOFT

Microsoft is founded in 1975 and headquartered in Washington, U.S. The company is engaged in manufacturing and providing cloud-based solutions with software, services, platforms, and content and also provides support and consultancy services. The business segments of the company include productivity and business processes, intelligent cloud, and more personal computing. The product categories of the company include AI+ machine learning, analytics, blockchain, computers, containers, databases, DevOps, developer tools, hybrid + multicloud, Identity, integration, internet of things, management and governance, media, migration, mixed reality, mobile, networking, security, storage, web, and windows virtual desktop. The market-focused category is Identity.

• In March 2021, Microsoft announced the launch of the Azure AD my app and new risk detections for identity protection. With this launch, the company simplified Identity and access management while also enhancing the customization and controls. This will help the company to enhance its offerings and to grow in the market

The company has a presence in North America, South America, Europe, Asia, Middle East, and Africa. In addition, the company also generates its revenue from various subsidiary companies such as GitHub (U.S.), Yammer (U.S.), Microsoft India (India), Skype Communications S.a r.l. (U.S.), LinkedIn Corporation (U.S.) and others.

IBM Corporation

IBM Corporation was incorporated in 1911 and is headquartered in New York, U.S. The company is engaged in manufacturing and providing new security technological solutions for businesses in various industries. The business segments of the company include cloud and cognitive software, global business services, global technology services, and global financing, where the market-focused business segment is cloud and cognitive software. The product and solution categories include automation, top software trials, discounts, and special offers, analytics, blockchain, cloud, industries, business operations, I.T. infrastructure, security, sterling supply chain, Watson, and others. The market-focused category is security.

• In June 2021, IBM Corporation announced the launch of IBM Security Identity Governance and Intelligence (IGI) in response to security vulnerabilities. This will help the company to enhance its offerings and to better meet consumer's demand in the market

The company has a presence in North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. In addition to it, the company also generates its revenue from various subsidiary companies such as Red Hat Software (Americas), IBM India Private Limited (India), Weather Underground (U.S.), Aspera (U.S.), Fiberlink Communications Corp. (U.S.), among others.