- Report ID: BMRC 1394 | Number of pages: 200 | Publish Date: Nov 2020
Status: Published | Category: Technology And Media | Delivery Timeline:
Global OpenID Connect Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- Increasing adoption of cloud-based encryption solution, rising use of social media platform and rising number of cyber-attacks across the globe are some of the major factors driving the growth of the Global OpenID Connect Market.
OpenID Connect is an open standard and decentralized authentication, OpenID Connect is a simple identity layer helps to verify the authenticity of the users. This protocol is very easy for developers to integrate, compared to any preceding identity protocol. By using OpenID Connect, developers can authenticate their users without having to own and manage password files across websites and apps. OpenID Connect is one of the most important ways that used to access authorization and information passed between two parties online. Users create accounts and then sign onto any website by selecting an OpenID identity provider, which accepts OpenID authentication. It can be used to transform identity control by allowing single sign-on, increasing information security and helping to manage identity through the Internet of Things.
Global OpenID Connect market report is segmented on the basis of application, industry vertical and region & country level. Based upon application, OpenID connect market is classified into Internet of things, mobile information management and BYOD and native SSO. Based upon industry vertical, OpenID connect market is classified into BFSI, IT and telecom, government and defense, ecommerce, health care, energy and power, oil & gas, others (media and entertainment, hospitality, gaming, education, and manufacturing).
The regions covered in this OpenID Connect market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of OpenID Connect is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
OpenID Connect market report covers prominent players are Okta, Gigya Beacon, Google, Microsoft, Ping Identity, ForgeRock, RSA SecurID, Gigya, Janrain, Cisco Identity Services Engine, SSH, Microsoft Forefront Identity Manager, CyberArk and others.
Okta Launched Sign In with Okta, Business Authentication for App Providers
May 23rd, 2018; Okta, Inc. launched Sign In with Okta. It is a secure authentication system for app providers and developers that combine the ease of social authentication with the security of enterprise infrastructure. In addition, this new authentication system makes application easier for an enterprise to connect its business partners, such as suppliers and contractors by allowing partners to use their Okta organization credentials to sign in. Further it will allow partners to bring their own identity.
Global OpenID Connect Market Dynamics–
Increasing adoption of cloud-based encryption solution, rising use of social media platform and rising number of cyber-attacks across the globe are some of the major factors driving the growth of the global OpenID connect market. According to CSIS recent report, Russian intelligence tried to steal information related to COVID-19 vaccine development. According to The Center for Strategic and International Studies, Chinese hackers targeted over 75 organizations around the world as part of a broad-ranging cyber espionage campaign in the manufacturing, media, healthcare and nonprofit sectors. In addition, growing native apps popularity due to its ease of use and ease of distribution, more demand for default OAuth in native environments and increasing number of internet users and growing adoption of cloud services are the key factors expected to foster the growth of OpenID connect market within the forecast peried. As per World Bank, the number of internet users has increased in the U.S. by nearly 28% from 206.01 million in 2006 to 286.94 million in 2016. Furthermore, OpenID Connect has huge demand in the financial sector due to the adoption of OpenID Connect solutions to protect their infrastructure and critical information from frauds and thefts.
However, high cost of authentication solutions and lack of skilled IT professionals may hamper the growth of market. In spite of that, growing trend of BYOD, increasing research and development activities and growing data security concern can create wide opportunities for the further growth of the global OpenID connect market.
Global OpenID Connect Market Regional Analysis–
North America is expected to dominate the global OpenID connect market with the potential rate within forecast peried due to increasing number of data breaches and cyber-attacks, rise in internet penetration, early adoption of OpenID Connect and presence of leading vendors that provide OpenID connect solutions in this region. According to World Bank, nearly 287 million internet users accessed the web from United States. Additionally, increasing implementation of OpenID connect solution for data security, preventing cyber-attacks, ensuring security and privacy of data across various industries in this region is also supplementing the market growth.
The Asia Pacific is expected to emerge as the fastest-growing regional OpenID connect market over the forecast period due to the increasing demand for advanced e-mail encryption technologies, rising penetration of the internet, increasing number of cyber-attacks and low-cost cloud-based services across various countries in this region. As per World Economic Forum, China is the largest market of internet users with 21%, while India holds second place with 12% of internet users.
Key Benefits for Global OpenID Connect Market Report–
By Industry Vertical:
By Regional & Country Analysis:
The Middle East and Africa
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OpenID Connect Market Size: By Application ( Internet of Things, Mobile Information Management and BYOD, Native SSO), By Industry Vertical ( BFSI, IT and Telecom, Government and Defense, eCommerce, Health Care, Energy and Power, Oil & Gas ) Forecast 2020 to 2026