Global OpenID Connect Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- Increasing adoption of cloud-based encryption solution, rising use of social media platform and rising number of cyber-attacks across the globe are some of the major factors driving the growth of the Global OpenID Connect Market.Scope of Global OpenID Connect Market Report-OpenID Connect is an open standard and decentralized authentication, OpenID Connect is a simple identity layer helps to verify the authenticity of the users.
On the basis of country level, market of OpenID Connect is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.Key Players for OpenID Connect-OpenID Connect market report covers prominent players are Okta, Gigya Beacon, Google, Microsoft, Ping Identity, ForgeRock, RSA SecurID, Gigya, Janrain, Cisco Identity Services Engine, SSH, Microsoft Forefront Identity Manager, CyberArk and others.Global OpenID Connect Market Dynamics–Increasing adoption of cloud-based encryption solution, rising use of social media platform and rising number of cyber-attacks across the globe are some of the major factors driving the growth of the global OpenID connect market.
According to The Center for Strategic and International Studies, Chinese hackers targeted over 75 organizations around the world as part of a broad-ranging cyber espionage campaign in the manufacturing, media, healthcare and nonprofit sectors.
In addition, growing native apps popularity due to its ease of use and ease of distribution, more demand for default OAuth in native environments and increasing number of internet users and growing adoption of cloud services are the key factors expected to foster the growth of OpenID connect market within the forecast peried.
Furthermore, OpenID Connect has huge demand in the financial sector due to the adoption of OpenID Connect solutions to protect their infrastructure and critical information from frauds and thefts.However, high cost of authentication solutions and lack of skilled IT professionals may hamper the growth of market.
In spite of that, growing trend of BYOD, increasing research and development activities and growing data security concern can create wide opportunities for the further growth of the global OpenID connect market.