Single Sign-on Market Size, Share, Growth Analysis, By Authentication(Password-Based, Multifactor Authentication (MFA), Biometrics, Single Sign-On with Federation), By Component(Software and services (Professional Services, Managed Services)), By Industry Vertical(Healthcare, Financial Services, IT and Telecommunications, Retail), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45F2104 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 76

Single Sign-on Market Insights

Global Single Sign-on Market size was valued at USD 3.51 billion in 2022 and is poised to grow from USD 3.98 billion in 2023 to USD 10.80 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

In recent years, the global single sign-on market has been experiencing significant growth as it allows users to access multiple applications and services with a single set of credentials, enhancing user experience and security. With the growing threat of cyberattacks, data breaches, and identity theft, businesses are prioritizing security. SSO solutions play a crucial role in strengthening security by reducing the number of passwords users need to manage and enforcing multi-factor authentication (MFA).

Additionally, many industries and regions have stringent regulatory requirements concerning data protection and user authentication. SSO solutions help organizations meet these compliance standards by improving identity and access management.

Single Sign-on Market Report Snapshots

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Single Sign-on Market size was valued at USD 3.51 billion in 2022 and is poised to grow from USD 3.98 billion in 2023 to USD 10.80 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

The competitive environment of the Single Sign-on market is dynamic. The market includes established companies and innovative newcomers, each offering a range of solutions to cater to the diverse needs of organizations across various industries. The established players focus on enhancing their offerings with advanced features, integrations, and robust security measures to address the evolving security landscape and niche SSO providers offer specialized solutions and often emphasize ease of implementation, scalability, and cost-effectiveness. 'Okta', 'OneLogin', 'PingOne', 'Auth0', 'Microsoft Azure Active Directory', 'Google Workspace', 'IBM Security Verify', 'Oracle Identity Cloud Service', 'Salesforce Identity', 'SAP Identity Management', 'VMware Workspace ONE', 'SailPoint IdentityIQ', 'ForgeRock Identity Cloud', 'CA Identity Suite', 'Radiant Logic RadiantOne', 'Centrify Cloud Identity Cloud', 'CyberArk Identity Center', 'Identity Automation', 'Stytch', 'Transmit Security'

Organizations across various industries are increasingly aware of the risks posed by cyber threats and data breaches. SSO solutions provide a robust defense against unauthorized access, reducing the reliance on traditional password-based systems and enhancing overall security. The proliferation of cloud-based applications and services is driving the demand for SSO. As businesses transition to the cloud, the need for streamlined and secure access to these services becomes paramount.

Rising Adoption of Cloud-based SSO Solutions: Due to the increasing use of cloud applications and services, organizations are seeking cloud-friendly SSO solutions to provide secure, seamless access across their digital ecosystem. moreover, the integration of biometric authentication methods, such as fingerprint recognition and facial scanning, into SSO systems. Biometrics offer heightened security and improved user convenience, aligning with the industry's focus on delivering robust yet user-friendly authentication methods.

North America has historically dominated the single sign-on market as it has a robust and developed economy with a number of businesses and organizations. The region has stringent data protection and privacy regulations, including HIPAA and GDPR compliance for businesses that operate globally. Compliance requirements are driving the adoption of SSO for secure access and identity management.

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Single Sign-on Market Insights

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