Automotive Electronic Control Unit Market Worth $84.29 Billion By 2025

The global automotive electronic control unit market size is expected to reach USD 84.29 billion by 2025, growing at a 4.4% CAGR over the forecast period, according to a study conducted by Grand View Rese0arch, Inc. The increasing demand for hybrid and luxury vehicles, rising deployment of infotainment systems, and growing preference for ADAS and automated safety systems are fueling the demand for automotive electronic control units (ECUs). Additionally, a growing number of functionalities to control several electronic components in the vehicle such as, dashboard instruments, engine, telematics, and powertrain, has also resulted in significant growth in the average number of ECUs used per vehicle.

Moreover, the governments and regulatory bodies are mandating the installation of several safety systems in a vehicle, such as adaptive cruise control, adaptive front lighting, and anti-lock braking system, among others, to increase road safety. Recently, the AUTOSAR Alliance has been formed to standardize the approach of the designing and developing of layers between ECU hardware and application software. Additionally, in April 2016, the European New Car Assessment Programme (NCAP) was launched to reduce the risk of accidents by mandating the integration of lane-departure warning and anti-lock braking systems in vehicles during their production phase. This is anticipated to make the integration of hardware and software more scalable and flexible.

Furthermore, the automotive ECU market directly depends upon the automotive production across the globe. Thus, the increasing automotive production across emerging economies would fuel the demand for automotive ECUs over the forecast period. Several government initiatives to mandate the installation of advanced safety systems in vehicles, coupled with the growing preference of consumers for luxury and hybrid vehicles are the key factors boosting the research & development spending on automotive ECUs. For instance, In October 2017, NXP Semiconductors N.V. revealed NXP S32 platform, an all-new control and compute concept for electric, autonomous and connected cars.

The Asia Pacific region dominated the market in 2018, a trend that is expected to continue over the forecast period. This is attributed to the significant investments in the automotive industry in emerging countries, such as China, South Korea, Japan, and India. Additionally, the Chinese market is estimated to reach USD 36.65 billion by 2025, growing at a CAGR of 9.5% from 2019 to 2025. Continuous technological innovations to reduce the ECU count per vehicle is also expected to create substantial opportunities in the Asia Pacific region.

The North American market is projected to expand at a considerable CAGR over the forecast period owing to several regulations and declarations made by the governments in the region to positively influence the demand for electric vehicles. For instance, the Californian government has set up a target of reaching 1.5 million zero-emission vehicles, thus boosting the regional demand.

Some of the key players operating in the market are Altera (Intel Corporation), Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Hyundai Mobis, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo Inc., and ZF Friedrichshafen AG, among others. The global automotive ECU market is consolidated with the presence of a few players holding a majority share of the market.

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https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the study suggest:

The ADAS & safety systems application segment is anticipated to dominate the automotive electronic control unit market owing to stringent government regulations and rising consumer awareness pertaining to safety features in vehicles. The segment is estimated to reach USD 27.6 billion by 2025.
The Internal Combustion Engine (ICE) vehicles segment is estimated to hold a majority share of the market owing to the increasing production of vehicles in emerging economies.
The 32-bit segment held the largest market share of 91.0% in 2018. This share is expected to decline over the forecast period due to the rising demand for 64-bit ECUs to integrate advanced electronic functions in the vehicle.
The passenger car segment held the largest market share of 86.9% in 2018. This share is estimated to increase over the forecast period owing to the growing consumer preference for luxury and hybrid vehicles with advanced electronic and safety systems.
The Asia Pacific regional market is estimated to account for 62.8% of the overall automotive ECU industry in 2018, owing to the increasing production of vehicles in emerging economies, such as China, India, South Korea, and so on.
Prominent market players include Autoliv, Inc., Delphi Technologies, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.

HR Analytics Market Size Worth $6.29 Billion By 2027

The global HR analytics market size is anticipated to reach USD 6.29billion by 2027, registering a CAGR of 14.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. HR analytics involves business analytics and data mining solutions, which examines data created from various HR activities such as employee acquisition, attendance, performance management, engagement, training, and compensation. The HR analytics helps in increasing the productivity of HR functions by predicting important parameters such as performance, retention, and recruitment with the help of data generated. All these factors are contributing to the market growth.

Technological proliferation in the field of Machine Learning (ML), big data analytics, Artificial Intelligence (AI), and Internet of Things (IoT) is expected to positively impact the market growth. Analytics solutions test the efficacy of HR policies and enable simplification of various HR policies. It includes data cleansing, data collection, data management, visualization, and forecasting tools. It correlates and integrates data to provide appropriate, actionable, and timely insights to improve performance leading to more relevant decisions and correct actions.

HR analytics solutions and services enables complex compensation planning and allow enterprises to enhance budget allocations and support compensation decisions within the organizational guidelines. Furthermore, organizations around the globe are forming a digital workplace that allows flexibility and mobility, high productivity, and uses modern communication tools. This business shift from traditional systems to digital HR is playing a major role in the centralization of HR data, thus allowing for easy access of data to deploy analytics solutions. Hence, companies are providing comprehensive HR analytics solutions for all HR functions alongside with analytics capabilities.

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https://www.grandviewresearch.com/industry-analysis/hr-analytics-market

Further key findings from the report suggest:

The talent analytics solution is anticipated to grow at a faster pace, owing to the need for companies to attract the right talent in their organization with the help of technologies such as artificial intelligence, machine learning, and deep learning
The support and maintenance segment is expected to expand at the highest CAGR from 2020 to 2027. The demand for is expected to grow on account of increasing need for timely maintenance for system patching and security updates
The demand for hosted deployment segment is expected to increase over the forecast period as these solutions are cost-effective, which allows convenient and easy download and storage of data over cloud
The Small and Medium Enterprises (SMEs) segment is expected to register the highest growth during the forecast period. These days, the SMEs are focusing on utilizing the HR analytics solution to work globally and multi-regional workforce
The retail segment is expected to emerge as the fastest growing end-use segment from 2020 to 2027. The retail industry employs a unique blend of full-time employees, part-time staff, contractual workers, and multi-regional stakeholders across distribution networks
Asia Pacific is anticipated to grow at a significant rate during the forecast period, owing to the rapid digitization initiatives taken by the governments in the region
The key players in the HR analytics market include IBM Corporation; Kronos Incorporated; MicroStrategy Incorporated; Oracle; SAP SE; Sage Software Solutions Pvt Ltd; Talentsoft, TABLEAU SOFTWARE; Workday, Inc.; and Zoho Corporation Pvt. Ltd.

IT Services Outsourcing Market Size Worth $937.6 Billion By 2027

The global IT services outsourcing market size is anticipated to reach USD 937.6 billion by 2027 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. Rising need to reduce operational costs and the lack of in-house information technology engineering talent are anticipated to drive the industry over the forecast period. The IT operations subcontracting industry is witnessing an upsurge in core information technology activities, not just to save capital, but to benefit from skilled and experienced professionals to deliver superior quality solutions.

A significant number of small-to-medium businesses are likely to fully outsource their IT operations owing to their constrained infrastructure capacities and agile methodologies. Rapid transformation of business models to keep pace with the emerging technologies, such as Artificial Intelligence (AI), Internet-of-Things (IoT), Robotic Process Automation (RPA), blockchain, and deep learning, are expected to drive the market. Onshoring of IT services as against offshoring is likely to grow at a considerable rate over the forecast period.

This may be attributed to better reliability, control, responsiveness, market knowledge, and ease of communication. Companies have started subcontracting application development and maintenance services to onshore service providers to reduce hidden costs of offshoring. The industry is beholding new markets for subcontracting IT operations such that companies ensure focus on their core business and leverage advanced technologies with full capacity to manage the corporate environment. However, captive centers and data-security related concerns are a constant roadblock to the otherwise growing industry.

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https://www.grandviewresearch.com/industry-analysis/it-services-outsourcing-market

Further key findings from the study suggest:

Service providers are shifting towards standardization of IT outsourcing solutions as against customized ones. They are also relying profoundly on mass automation devices, which will create further opportunities and decrease the workforce necessary to back critical corporate applications
The retail & e-commerce end-use segment is projected to grow at the highest CAGR over the forecast period owing to the ever-increasing demand for modernized solutions
Asia Pacific is estimated to be the fastest-growing regional market during the forecast period owing to easy availability of skilled staff, a better quality of IT solutions, and low costs of projects
Evolving markets of APAC, such as Philippines, Thailand, and Vietnam, are the new outsourcing destinations, which boost the region’s growth
Some of the key companies in the market are Accenture PLC; IBM Corp.; Fujitsu Ltd.; Hewlett Packard Enterprise Development LP; and SAP SE

Payment Processing Solutions Market Size Worth $98.01 Billion By 2027

The global payment processing solutions market size is expected to reach USD 98.01 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the emergence of digital technology and customers’ demand for immediacy of transactions. The customers are looking for faster and convenient money transfer options, thereby driving the adoption of payment processing solutions.

Technologies such as the Internet of Things (IoT), machine learning, and Artificial Intelligence (AI) are all finding their way into numerous industries in order to streamline and simplify process of transactions. Machine learning can automatically recognize patterns across large volumes of transactions to quickly identify fraudulent activities. Moreover, artificial intelligence offers the ability to personalize the customer experience and enhance customer service.

Machine learning integrated processing solutions are used for the authorization of money transfer patterns and transaction monitoring. Machine learning tools enable FinTech companies to accurately process this data to decrease costs, meet customer needs, and better allocate resources. Furthermore, these solutions allow businesses to provide better customer services to their customers.

Service providers are focusing on leveraging IoT into their payment processing solutions. They enable money transfer through connected voice assistants and smart TVs. These services are allowing customers to pay when, where, and how they want to pay.

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https://www.grandviewresearch.com/industry-analysis/payment-processing-solutions-market

Further key findings from the study suggest:

Growing popularity of smartphones and technological innovations are anticipated to boost the usage of e-wallets across the globe
As retailers are focusing on diversifying their business operations, they are increasingly embracing wireless and mobile processing technologies for transaction processes. This, in turn, is expected to fuel the adoption of solutions for transaction processing in the retail end-use segment
Increasing e-commerce sales, coupled with growing internet penetration across the region, is expected to fuel the market growth in Asia Pacific over the forecast period
Key vendors in the market include SecurePay; PayU Group; PayPal Holdings, Inc.; Authorize.Net; and Alipay.

Transportation Analytics Market Size Worth 21.8 Billion By 2027

The global transportation analytics market size is expected to reach USD 21.8billion by 2027, registering at a CAGR of 15.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Increasing expenditure of governments in transportation sector across the world and the growth of smart cities vis-à-vis urbanization are the major driving forces fostering the market growth. Moreover, consumerization of big data, advancements in analytics technology owing to artificial intelligence and machine learning will aid the utility of analytics in the transportation industry. Besides, acquisition of analytics startups, mergers and collaboration, and research and development investment in technology enhancement of analytics by major industry players will boost the market growth.

As per the published report by Transport Research Centre of Czech Republic, in 2018 there are around 500 million surveillance cameras across the world, generating 15 billion gigabytes of data per week. This number will double every two years, which will be stored and analyzed for improving and streamlining the public transport situation. The potential of data collection and its analysis will also be harnessed through growing application of intelligent transport systems across the world. Moreover, the data collected from the sensing platforms such as intra vehicular and urban sensing platform will help in achieving the primary aim of Intelligent Transport Systems (ITS) such as access and mobility, economic development, and environmental sustainability. All the precedent factors will help boost the market growth over the forecast period.

As per automobile industry estimates, in 2015 there were around 1.3 billion vehicles plying on the road worldwide and with growing economy in developing regions, the number is expected to rise over 2 billion by 2040. The development of new roads and bypasses will not suffice the ever increasing traffic level loads in urban areas across the globe. However, with the combination of new transport analytics solutions and communications technology with the aid of Artificial Intelligence (AI), large amount of traffic data can be analyzed in real time to cope the growing number of vehicles. Such developments across the transportation and communication sector will propel growth of the market for transportation analytics solutions over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/transportation-analytics-market

Further key findings from the study suggest:

The prescriptive type of transportation analytics is likely to grow at rapid rate over the forecast period. Emergence of advanced technologies such as AI and ML, and advent of IoT is likely to boost the segment growth. Among major vendors, Oracle’s Analytics cloud platform offers predictive analytics software within the platform, which helps developers to mine various data types, destroy the movement of data, and deliver actionable insights
The cloud deployment was the most preferred way for deployment of the analytics in 2019 and is anticipated to grow rapidly over the next eight years. Growth in cloud computing technology and its services such as SaaS, PaaS, and IaaS will foster the segment growth
The planning and maintenance management application is anticipated to be the fastest growing segment over the forecast period. Reduction in downtime, monitoring assets for anomalies, cost effective servicing and repairs, trends and forecasting events through analytics are some of the major factors that are likely to drive the segment growth
Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025 owing to smart transportation and traffic management initiativesundertaken by countries such asJapan, China, South Korea, Australia, and Taiwan. For instance, China’s 5 year plan for modern comprehensive transportation system will include SMART urban transportation management, integrated mobile payment solutions, mobile apps, shared mobility, and the use of big data in transport
Key market players include Cellint Corporation; Alteryx Inc.; Oracle Corporation; Inrix Corporation; IBM Corporation; SmartDrive Systems Inc.; Cubic Corporation; Sisense Inc.; Hitachi Ltd.; and Omnitracs LLC

Digital Workplace Market Worth $54.2 Billion By 2027

The global digital workplace market size is expected to reach USD 54.2 billion by 2027, expanding at a CAGR of 11.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. The availability of new software and tools, demand for remote working, and focus on improved employee experience are driving the adoption of the digital workplace. Advancements in workplace technologies and Software as a Service (SaaS) have led to the implementation of cloud systems, thus, driving the overall market. The shift in the generational workforce has led to the adoption of digitalization in the workplace. The utilization of various gadgets such as smartphones, laptops, and tablets has provided ease to the mid-aged generation.

Digital workplace aligns the employees, technologies, and businesses in such a way that they improve operational efficiency and meets various goals set by organizations across verticals such as IT and telecommunication, consumer goods, retail, manufacturing, and pharmaceuticals. The smooth integration of digital workplace tools within the workspace is often easily achieved at organizations having higher digital literacy. With the growing importance of customer satisfaction and their experience at priority, companies also need to focus on employee experience as they act as the key driver in exhibiting the organizational capabilities. Furthermore, the adoption of digital workplace solutions and services enables not only retaining employees but also contributes in attracting a talented workforce. Moreover, on-going technological advancement, such as the use of AI and machine learning to optimize the business performance, and its collaboration with the workforce, would drive the market over the forecast period.

Companies such as DXC Technology Company, IBM, HCL Technologies Limited, Atos SE, NTT Data Corporation, Citrix Systems, Inc.; Tata Consultancy Services Limited, Wipro Limited, among others, are the key players operating in the market. DXC Technology Company is one of the prominent providers that has robust capabilities and a wide global presence to deliver workplace solutions. Atos’ acquisition of Syntel represents a significant boost in its abilities to deliver digital workplace transformation services in all the regions. Atos can leverage Syntel’s suite of proprietary solutions that use cloud, social media, analytics, mobile, and IoT to deliver digital transformation.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/digital-workplace-market

Further key findings from the study suggest:

The small and medium enterprises segment is expected to grow at the highest rate of 11.8% over the forecast period. Increasing BYOD trends, remote working culture in small, medium, and large enterprises in emerging economies are expected to drive the market over the forecast period
IT and Telecommunication segment held the largest share of more than 34.0% of the overall market in 2019
North America held the largest market size valued at USD 7.3 billion in 2019, whereas the Asia Pacific region is poised to witness the highest CAGR of 12.5% over the forecast period
Key players including DXC Technology Company; IBM; HCL Technologies Limited; Atos SE; NTT Data Corporation; Citrix Systems, Inc.; Tata Consultancy Services Limited; Wipro Limited accounted for a majority share of the overall market in 2019.

AI Training Dataset Market Worth $4.8 Billion By 2027

The global AI training dataset market size is expected to reach USD 4.8 billion by 2027, expanding at a CAGR of 22.5%, according to a new report by Grand View Research, Inc. The artificial intelligence technology is proliferating. As organizations are transitioning towards automation, the demand for technology is rising. The technology has provided unprecedented advances across various industry verticals, including marketing, healthcare, logistics, transportation, and many others. The benefits of integrating the technology across various operations of the organizations have outweighed its costs, thereby driving adoption.

Due to the rapid adoption of artificial intelligence technology, the need for training sets is rising exponentially. To make the technology more versatile and accurate with its predictions, a wide number of companies are entering the market space by releasing various datasets operating across various use cases to train the machine learning algorithm. Such factors are substantially contributing to market growth.

Factors such as cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving the market. For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises of 1.0 million images of faces. This dataset was released with an aim to help developers to train their face recognition systems supported by artificial intelligence technology with diverse dataset. In addition, it will help developers to increase the accuracy of face identification.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/ai-training-dataset-market

Further key findings from the report suggest:

Increasing creation of synthetic training data for unsupervised and supervised training of machine learning algorithm is driving the adoption of datasets by organizations thereby catalyzing market growth
The image/video segment is expected to portray high growth rate of more than 25.0% over the projected period
In Asia Pacific, the market is expected to have significant growth over the forecast period, owing to the substantial adoption of AI technology
The key players in the market areGoogle, LLC (Kaggle); Appen Limited; Cogito Tech LLC; Lionbridge Technologies, Inc.; Amazon Web Services, Inc.; Microsoft Corporation; Scale AI; Inc.; Samasource Inc.; Alegion; and Deep Vision Data.

Data Center Generator Market, Growth, Trends, COVID-19 Impact, and Forecasts

The global data center generators market size is expected to reach USD 10.9 billion by 2027 at a CAGR of 6.5%, according to a study conducted by Grand View Research, Inc. The increasing number of data centers and hyperscale facilities along with growing demand for the edge data centers, are some of the factors contributing to the rise in product demand. These generator provides reliable and cost-effective backup power solutions for data centers.

Manufacturers, such as Cummins, Inc. and Himoinsa, are introducing technologically advanced generator sets that offer remote monitoring and control. These systems allow users to remotely observe and control engine and alternator data, power system status, load levels, and control system status. The advent of such systems is expected to propel the demand for generators in the market.

North America has a substantial revenue share in the overall market owing to the presence of a large number of data center facilities in the region. In addition, presence of key companies, such as KOHLER Group and Cummins Inc., also intensifies the competition in this region and contributes to the growing revenue share. With a rise in the number of data centers in developing economies like India, the Asia Pacific regional market is anticipated to record the fastest CAGR in the next seven years.

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http://www.grandviewresearch.com/industry-analysis/deep-learning-market

Further key findings from the report suggest:

Gas product type is anticipated to register the fastest CAGR of 8.1% during the forecast period owing to their cleaner operation and lower emission than diesel-based systems
Generators under 1 MW capacity are expected to register the highest CAGR over the forecast period owing to the increasing number of smaller and edge data centers
Growing number of hyperscale facilities is anticipated to catapult the demand for Tier IV systems in the near future
Some of the key companies include Caterpillar, Inc.; Cummins, Inc.; and KOHLER Group. These companies have established partnerships with facility developers and principal contractors to maintain their market position and share

5G Infrastructure Market Worth $68.8 Billion By 2027

The global 5G Infrastructure market size is expected to reach USD 68.8 billion by 2027, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 59.6% from 2020 to 2027. The significant investments by communication service providers to deploy 5G infrastructure across the globe to provide improved data services are estimated to drive the market. Additionally, robust innovation in next-generation 5G network equipment and deployment module will help in bringing down the overall deployment costs for service providers. As a result, it is estimated to boost the deployment of 5G infrastructure over the forecast period.

Significantly growing demand for high bandwidth connectivity for several use cases, such as accessing ultra-high definition (UHD) videos, cloud-based AR/VR gaming, and HD video meetings, is expected to boost the market growth during the forecast period. Moreover, a wide range of industries including manufacturing, oil and gas, mining, and energy and utility are investing a massive amount in deploying 5G networks. The 5G network helps industrial facilities to enhance their overall productivity and operational efficiency. Thus, the growing need for high bandwidth capacity to establish unified connectivity to millions of Industrial IoT (IIoT) devices is expected to foster market growth from 2020 to 2027.

With the emergence of 5G technology, the transportation and logistics industry is shifting towards a significant transformation in order to build an autonomous ecosystem. Moreover, the deployment of a 5G network will help in delivering seamless data speed for various transport applications, including ships and ports, Vehicle-to-Everything (V2X), and drone connectivity. Moreover, a notable demand for high-speed bandwidth capacity for emergency healthcare applications, such as remote patient surgeries, is estimated to strengthen the market growth from 2020 to 2027. Besides, robust demand for 5G data services in rapidly building several smart cities for energy management and cloud storage applications is further anticipated to expand the market growth.

The ongoing pandemic of COVID-19 has shown an adverse impact on the market for the 5G infrastructure. Several telecom equipment manufacturers across the globe have temporarily halted the production and export of 5G equipment. Additionally, federal governments across key countries such as the U.S., France, the U.K., and Australia have temporarily postponed the 5G spectrum auctions in their countries. Further, the escalating trade war between the two largest economies, coupled with the rising security concerns, is estimated to hinder the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/5g-infrastructure-market

Further key findings from the study suggest:

Based on component, in the hardware segment, RAN held the largest share of 46.3% in 2019 owing to a significant rise in investments in deploying 5G cloud or centralized RAN across key countries, such as the U.S., the U.K., Japan, and China
With the growing need to provide unified connectivity to several industrial sensors and collaborative robots, the industrial vertical segment is anticipated to witness considerable growth over the forecast period
Robust investments in installing a 5G standalone network to deliver ultra-reliable low latency connectivity for connected vehicle applications are estimated to surge the growth of the standalone network architecture segment over the forecast period
By spectrum, the sub-6 GHz segment held the dominant share of 94.7% in 2019, which is attributed to the high focus on releasing sub-6 GHz frequency bands by federal governments initially across key countries to deliver high-speed data services
Leading players such as Telefonaktiebolaget LM Ericsson and Nokia Corporation are highly focused on establishing partnerships with leading service providers to enhance their geographical presence and overall market share

Identity As A Service Market Size Worth $14.89 Billion By 2027

The global identity as a service market size is expected to reach USD 14.89 billion by 2027 expanding at a CAGR of 22.0% over the forecast period, according to a new report by Grand View Research, Inc. The rapid growth in IT infrastructure, ease of scalability, and cost-effectiveness of the Identity as a Service (IDaaS) solutions are anticipated to be the key factors driving the market. Rising threats and vulnerabilities across crucial organizational data have compelled companies to enhance their cybersecurity stand and focus on managing identities. This will support market growth.

Moreover, strict regulatory compliance and mandates pertaining to data security are likely to fuel the demand further. For instance, the EU’s General Data Protection Regulation (GDPR), which came into force in May 2018, applies to all businesses worldwide that collect and process the data of EU citizens. The stringent compliance by the government agencies to curb theft of identity information has compelled the organizations to improve their spending on IT security substantially.

The proliferation of Bring Your Own Devices (BYOD) trend and adoption of cloud services within the organizations have potentially opened new avenues for threat actors. The deployment of IDaaS would reduce the risk and complexities of identity access with the help of cloud deployment and subscription as a services business model to its user. The adoption of cloud deployment in the organization is proliferating, owing to the flexibility and cost-effectiveness in the implementation of the business functions. Moreover, it also provides the opportunity to transform IT infrastructure digitally.

The average number of cloud-based applications that are used in an organization ranges from 900 to 1200 services. Each service involves its set of user credentials, which rely on vulnerable combinations of passwords. An organization may find it challenging to maintain the authentication credentials for its end-users. The capabilities provided by IDaaS solutions, such as Single Sign-On, Multi-Factor Authentications, help enable transparent authentication and improve the end-user experience for cloud-based services managed within the enterprise network.

Identity as a Service allows the organizations to enhance the security aspects making it more indulgent for employees to leverage the broad array of cloud services at their disposal. It also helps organizations by strengthening the identity and access parameter by enforcing policies about credential management and implementing more robust levels of authentication.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/identity-as-a-service-market

Further key findings from the report suggest:

The market was valued at USD 3.34 billion in 2019 and is anticipated to grow at a CAGR of 22.0% over the forecast period
Multifactor authentication component segment is anticipated to witness the highest CAGR of 25.6% over the forecast period owing to the integration of features, such as biometric, voice recognition, and smart cards
BFSI end-use segment is anticipated to witness the highest CAGR of 23.4% over the forecast period owing to the rising adoption of IDaaS solutions to increase productivity and ensure compliance
Asia Pacific is projected to be the fastest-growing regional market over the forecast period owing to the rapid transitioning towards the mobile, cloud, and new generation technologies