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Some of the factors expected to drive growth in the Global Identity-as-a-Service (IDaaS) Market include an increase in security concerns in the public and private sectors, demand for cloud-based security technology and services across the IT infrastructure, and the introduction of regulatory and data protection laws. Organizations must provide access to workers operating remotely while ensuring security enforcement, necessitating the use of identity and access solutions. IDaaS solutions are in high demand due to stringent regulatory mandates and data security laws. Stringent global legislation and enforcement relating to identity fraud, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), are pushing companies to take extra precautions in securing internal workforce, vendors, and end users’ user accounts. Region-Wise, The Asia Pacific region, due to rapid urbanisation and increased demand for digital security, is projected to drive the market during the forecast period.

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