Omdia, a leading global technology research firm, has released its latest report titled “Omdia Universe: Identity-as-a-Service Solution, 2023.” The purpose of this research is to guide technology decision-makers in making informed choices regarding the wide range of IDaaS products available in the market. It also aims to help technology vendors understand their market position and how they can better cater to user needs and anticipate future disruptions in the industry.
With the increasing adoption of cloud-based and hybrid environments in enterprises, there is a growing need for cloud-based identity solutions that seamlessly integrate with cloud-based systems. The deployment of cloud-based identity has the potential to expedite processes while reducing costs associated with scalability. According to Omdia’s predictions, around 80% of enterprises will embrace Software-as-a-Service (SaaS) applications by 2023. This shift towards SaaS has paved the way for the evolution of identity and access management (IAM) into the identity-as-a-service (IDaaS) segment.
The migration of IAM to the cloud has not only transformed the market but has also made it accessible to businesses of all sizes. Previously, on-premises IAM solutions were only affordable for large enterprises, but the cloud-based model has opened the doors for midsize and even small and midsize businesses (SMBs) to benefit from these services. Furthermore, larger corporations can leverage cloud-based IAM to address the challenges of mergers and acquisitions more efficiently by seamlessly integrating newly acquired companies into their IAM directories.
IDaaS offers a holistic approach to identity management by providing access to both on-premises and cloud-based assets such as data and applications. In recent years, there has been a substantial increase in the number of identity management vendors offering fully featured IDaaS solutions. These IDaaS specialists have challenged the incumbents in the IAM market, for whom IDaaS is a natural extension of their core identity portfolios.
To provide an unbiased evaluation of IDaaS vendors, Omdia conducted a customer survey and partnered with software review site TrustRadius. This approach ensured that the report not only incorporates insights from customer reviews but also provides a balanced and enhanced understanding of the end-user experience. TrustRadius was selected as the most trusted review site for business technology, with over 1 million buyers utilizing the platform each month, and it focuses on content quality and data integrity.
The report evaluates six vendors: Cross Identity, CyberArk, IBM, Okta, Oracle, and Ping Identity. These vendors were assessed based on their solution capabilities and various categories such as product experience, customer recommendation, and market presence. In the latest report, CyberArk, Okta, and Ping Identity retained their leadership positions from the previous edition. Oracle improved its classification and is now recognized as a market leader for the first time. IBM Security, although still a challenger, demonstrated an improved overall position. Cross Identity was featured in the report for the first time as a challenger.
Additionally, the report acknowledges Microsoft’s influential presence in the identity market. Microsoft declined to be included in the IDaaS Omdia Universe due to the timing of its announcement of net-new features within the Microsoft Entra product family. However, Omdia recognized the importance of including a profile of Microsoft’s identity offerings due to the company’s size and influence on the market. Microsoft has expanded its identity and access capabilities, particularly with the launch of Azure AD, its cloud-based directory, in 2000. Recently, Microsoft announced the Microsoft Entra product family, encompassing its identity and access solutions.
In conclusion, Omdia’s latest report provides valuable insights into the IDaaS market and helps technology decision-makers make informed choices. The evaluation of six prominent vendors, along with customer feedback and reviews, offers a comprehensive understanding of the end-user experience. The rise of cloud-based identity solutions has transformed the IAM market, making it more accessible to businesses of all sizes. With the increasing adoption of SaaS applications, the shift towards IDaaS is a natural progression that enterprises should consider to streamline their identity management processes.