The global security assertion markup language (SAML) authentication market is forecast to grow at a considerable CAGR during the forecast period. SAML is primarily used for exchanging authorized data between the organizations, it is based on XML. Increased demand for the organizations to effectively manage a huge amount of identities need for consistent, increased and unified safety to customers and effective management of stringent regulatory compliance are the major factors augmenting the overall market growth.
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Factors Driving the Global Security Assertion Markup Language Authentication Market
The key factors affecting the growth of the global SAML authentication market include single sign-on, federated identity and web services, and other industry standards. The single sign-on helps in maintaining multiple domains and applications which helps in boosting the demand for the market. SAML caters the ability for customers to approach multiple applications at a time, permitting them to conduct business faster and more efficiently.
Moreover, SAML is standardized, secure and provides an excellent user experience which are the key reasons for SAML’s preference. Increased adoption in small and medium-sized enterprises, due to numerous cyber-attacks also drives the growth of the SAML authentication market. SAML also offers easy installation, maintenance, upgrades which helps organizations to maintain specific budgets for security purposes.
The global SAML authentication industry is segmented based on the regional viewpoint, North America holds a significant share in 2018. Increased technological advancements, increasing IoT, and cloud adoption is some of the key factors positively affecting the market growth in the region over the forecast period. Whereas, a lack of awareness regarding standardization will be a major area of concern in the global market over the forecast period.
Global security assertion markup language authentication has several market players operating and providing products and services globally. Some of the prominent players functioning in the region include IBM Corp., AWS Inc., Microsoft Corp., Oracle Corp., miniOrange Inc., Auth0 Inc., and many others. These players are significantly contributing to the market and have around 40% during the forecast period. Some of the strategies that are majorly being adopted include new products and services offering, expansion, mergers & acquisitions among others.
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Current Market Trends Covered in the market report:
• Awareness toward the use of cloud-based SAML for security purposes is also expected to provide a growth rate to the market
• Shifting of consumer preferences from traditional methods to advanced and developed security options
• IT and Telecommunication segment will account for significant growth in the market
• The new technological advancements will be the key strategy of the players
• North America will hold as significant growth rate in security assertion markup language authentication market
Global Security Assertion Markup Language Market: Segmentation
By Deployment Mode
• On-Premise
• Cloud
By Vertical
• BFSI
• Government
• IT & Telecom
• Manufacturing
• Retail
• Healthcare
• Others (Defense)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
