New York, United States, June 28, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “Global Security Assertion Markup Language (SAML) Authentication Market information by component, by deployment, by vertical and by region – forecast until 2027”The market valuation will reach $ 2.8 billion by 2026, with a growth of 14.9% CAGR.
SAML authentication is a standardized method for proving your identity and accessing all the external applications and services you want to access. SAML is a set of standards that allows all Internet users to log in using a web portal and seamlessly access information or other online services without having to log in multiple times and to provide credentials. SAML is an open source XML protocol that allows an identity provider and a service provider to communicate information for authentication and authorization (typically a cloud or web application). Other synonyms for SAML include token-based authentication, security token services, federated authentication, and identity federation. It was first published by the Organization for the Advancement of Structured Information Standards (OASIS) in 2002.
The Major Key Players in the Covered SAML Authentication Market are:
- Thales (France)
- Ping Identity (United States)
- Amazon Web Services Inc. (United States)
- Okta (United States)
- Oracle (United States)
- miniOrange Inc. (United States)
- Zoho Corp. (India)
- OneLogin Inc. (United States)
- Easy SSO (United States)
- SAASPASS (United States)
- Auth0 Inc. (United States)
- BIO-key International (United States)
- RCDevs (Luxembourg)
- Ariel Software Solutions Pvt. Ltd. (India)
- Microsoft (United States)
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The USP market exclusively encompassed:
The security assertion markup language authentication market is driven by an increasing requirement for efficient bulk ID management as well as an increasing need for a consistent and unified technique to ensure security. identity security. In addition, increased internet penetration and rapid advancements in the telecommunications industry are expanding the use of the internet through smartphones in emerging economies such as India, which is driving the expansion of the Internet market. SAML (Security Assertion Markup Language) authentication. The growing trend of bringing your own device (BYOD) opens up new potential for SAML solutions and is expected to propel market growth to new heights. This market expansion, however, is hampered by a lack of understanding of the availability of identification and authentication protocols to prevent unauthorized access by businesses.
Market segmentation covered by research:
The global SAML authentication market has been segmented on the basis of component, deployment, and vertical.
By component, the global SAML authentication market has been divided into solution and service.
Based on the deployment, the global SAML authentication market has been divided into cloud and on-premises.
By vertical, the global Security Assertion Markup Language (SAML) authentication market has been divided into BFSI, IT & Telecommunications, Energy & Utilities, Healthcare, Oil & Gas, Manufacturing, Retail, and Others.
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Geographic analysis of the global Security Assertion Markup Language (SAML) authentication industry has been conducted for North America, Europe, Asia Pacific, Middle East & Africa and the ‘South America.
North America is expected to represent the largest market share, due to the presence of key industry players such as Ping Identity (US), Amazon Web Services, Inc. (US), Okta (US), Oracle ( US), miniOrange Inc. (US), OneLogin, Inc. (US), SSO Easy (US), SAASPASS (US), Auth0 Inc. (US), BIO-key International (United States) and Microsoft (United States). Due to factors such as the increased acceptance of SAML authentication solutions, the development of IoT, the BYOD trend in large and small enterprises, and the increase in internal and external threats, the United States is likely to dominate the market in North America.
During the study period, the European SAML authentication market is expected to rank second, owing to regulatory compliance requirements and rapid economic growth in countries like UK and Germany. Moreover, the growing number of cloud-based services increases the sensitivity of information, which is driving the growth of the market.
In terms of adoption of Security Assertion Markup Language (SAML) authentication in industry verticals, Asia Pacific is expected to be the third most dominant region. Several business organizations keep sensitive information in the cloud, which requires the use of a strong authentication system to govern identity and access. The Asia-Pacific market has been divided between China, India, Japan and the rest of the region. China leads the market nationally, with India expected to be the fastest growing country during the projection period. Due to such variables as a large number of users in an enterprise, making the adoption of SAML authentication solutions and services essential, the Chinese market is expected to register the largest market share. In addition, India is experiencing an increase in the number of IT service providers in the country.
The markets in the Middle East and Africa, as well as South America, are expected to increase significantly during the forecast period, due to digital transformation in all industrial sectors.
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Impact of COVID-19 on the Global SAML Authentication Market
The outbreak of COVID-19 in the first months of 2020 disrupted normal industry operations. For business continuity, many verticals have moved their work environments from physical to virtual. Using digital platforms during this pandemic situation has made it easier for businesses to run their operations, but it has also increased the vulnerability of their data and systems. The number of cybercrimes has increased since the start of the pandemic. As a result, there is an increased demand for security solutions, such as SAML authentication to prevent unusual events.
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