Enterprise Single Sign-on Market Analysis

Deployment Type Segment Analysis

The cloud segment is expected to hold 60% share of the global enterprise single sign-on market during the forecast period. Cloud computing has become more and more prevalent in recent years. After moving to the cloud, about 93% of firms stated an improvement in security, and over 90% stated that it is now easier to comply with regulatory regulations, globally. As a result, the cloud-based enterprise single sign-on demand might also rise. With cloud single sign-on (SSO), customers may log in to all of their cloud apps with a single identity—a username and password set. This streamlines the process of accessing cloud services. Cloud SSO solutions eliminate the need for multiple passwords and save IT management overhead by preserving a single identity for all cloud apps.

Industry Segment Analysis

The BFSI segment in the enterprise single sign-on market is projected to gather the largest revenue share of about 30% during the forecast period. The growth of the segment is set to be influenced by a rising preference for online banking. For instance, it is predicted that close to 4 billion individuals would utilize digital banking globally by 2024. Users are able to view financial information and complete transactions with the use of online bank accounts which is why their demand for online banking is rising. However, financial companies operating digital banks have a responsibility to protect each customer's identity, validate it, and keep it confidential. As a result, the more preference is given to enterprise single sign-on. Further, workers have to utilize numerous systems or accounts inside an organization. Work allocation, billing, project management software, leave and attendance management and many more are a few instances. Therefore, the BFSI segment is expected to boost the market demand over the projected timeframe.

Our in-depth analysis of the global enterprise single sign-on market includes the following segments: