Security Assertion Markup Language (SAML) authentication market key Players Analysis, Applications, Forecasts to 2023

Posted June 9, 2022 by madyjose

Security Assertion Markup Language (SAML) authentication market is expected to grow from USD 1.5 billion in 2019 to USD 3.0 billion by 2024
The global Security Assertion Markup Language (SAML) authentication market is expected to grow from USD 1.5 billion in 2019 to USD 3.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.2% from 2019 to 2024.

The key growth drivers of the SAML authentication market are organizations’ need to effectively manage large volumes of identities; organizations’ need to provide enhanced, consistent, and unified identity security to customers and employees and enhance the operational efficiency; and effective management of stringent regulatory compliances. Additionally, organizations’ need for remote access due to Internet of Things (IoT) and Bring Your Own Device (BYOD) trends, and proliferation of cloud-based SAML authentication solution and services among global organizations are expected to provide a huge growth opportunity for the SAML authentication market over the next 5 years. The biggest challenge for the SAML authentication market is single point of failure, which can affect the entire authentication process. With the increase in identity thefts and account takeovers, the demand for authentication solutions is increasing. SAML authentication solutions are convenient for enterprise users and consumers to authenticate themselves. Additionally, the increasing global competition has boosted the need to provide an enhanced customer experience. It would create market opportunities for SAML authentication solution and service vendors.

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The SAML authentication protocol used in the Single sign-on (SSO) software solution passes the SAML assertion, authentication and authorization information from identity providers to service providers. The types of SAML assertions passed from identity providers to service providers include authentication, attribute, and authorization decision. Authentication assertion makes use of Kerberos, 2 Factor, and other authentication methods to prove the identity of the user. The attribution assertion includes detailed user information, which is used by authorization decision functionality to authenticate and authorize the user using the service. SAML protocol is available as direct integration with SSO, directory integration, and Multi-Factor Authentication (MFA) solutions. SAML authentication solutions are available as on-premises and cloud-based solutions. SAML authentication solutions enable companies to identify and authenticate legitimate customers and protect customers’ data from fraudulent activities. These solutions are gaining popularity because organizations, these days, are generating large volumes of information and have realized the need to provide access to only legitimate users for preventing frauds while delivering better user experience.

Gemalto (Netherlands), Ping Identity (US), AWS (US), Microsoft (US), Oracle (US), miniOrange (India), OneLogin (US), RCDevs (Luxembourg), Ariel Software Solutions (India), SAASPASS (US), SSO Easy (US), ManageEngine (US), Okta (US), Auth0 (US), and PortalGuard (US) are some of the key vendors offering SAML authentication solutions across the globe. Players in this business sector have embraced different strategies to extend their worldwide presence and expand their market share. Partnerships and collaborations, and new product launches were the key strategies adopted by industry players to accomplish their success in the market. Apart from these, agreements, mergers and acquisitions, and business expansions are some of the other significant strategies embraced by the market players in the SAML authentication market.

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Gemalto (Netherlands) is prominently recognized for providing SAML authentication solutions and services to a wide range of customers across verticals. The company offers SAML authentication with identity-as-a-service/access management/SAML-based SSO, where every time a user accesses an application, the authentication process is transferred to the SAML identity provider. Gemalto is focused on leveraging its existing brand image and has developed its offerings in the current global market. The company is investing in R&D activities to develop and improve products and solutions offered in the SAML authentication market, which help prevent suspicious activities. In June 2019, Gemalto introduced the Virtualized Network Encryption platform for customers to address the changing security needs of data. The company also follows inorganic strategies, such as partnerships and acquisitions, to expand its market reach. For instance, in June 2019, Gemalto partnered with Entrust Datacard, an identity and secure transaction technology provider.

Ping Identity (US) is a pioneer in providing authentication solutions. In the authentication space, the company offers Ping Identity Platform, a scalable platform that helps companies provide their customers with unified and secure access to multiple applications and services, along with a reliable multichannel experience. The Ping Identity Platform accepts SAML for SSO into SaaS and internal applications because of its versatility and design provided to work with any standards-based identity provider. CA Technologies adopts various growth strategies to expand its market reach and enhance its offerings to provide customers with comprehensive solutions. The company emphasizes on organic growth strategies to enhance its brand value and improvise its offerings in the market. For instance, in June 2018, the company enhanced PingFederate and PingID SDK solutions, which would enhance the authentication process.

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Contact Email [email protected]
Issued By MnM
Country India
Categories Business , Software , Technology
Tags security assertion markup language saml , security assertion markup language saml industry , security assertion markup language saml market
Last Updated June 9, 2022