Global Security Assertion Markup Language (SAML) Authentication Market Report 2019-2024

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Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The global SAML authentication market size is expected to grow from USD 1,571.4 million in 2019 to USD 3,048.9 million by 2024, at a Compound Annual Growth Rate (CAGR) of 14.2% from 2019 to 2024.

Such growth in the market can be primarily attributed to the increasing need for effective management of identities and compliance toward stringent regulations. Moreover, organizations these days are increasingly adopting such solutions to provide enhanced, consistent, and unified identity security to customers and employees and enhance operational efficiency.

User authentication forms a critical component of almost all applications' systems. This has led to the increased need and eventually emergence of different forms and protocols of authentication. SAML is an open source identity authentication standard that enables logging users into various applications based on their login sessions in another context.

SAML-based SSOs eradicates the need for users to type in credentials or to remember and renew passwords. SAML also removes the possibility of users using weak passwords, thus reducing the possibility of unauthorized access and possible data breach. SAML SSO securely transfers user's identity between the identity providers and service providers. As soon as a user logs into a SAML-enabled application, the service provider requests approval from the specific identity provider which then validates the user's credentials. It then returns the authorization for the user to the service provider, enabling the user to use the application.

SAML authentication-based SSOs offer a range of benefits, such as improved user experience, increased security, reduced costs, and provides a standard format that enables seamless interoperability between systems, independent of implementation.

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Globe Newswire: 13:47 GMT Monday 27th May 2019

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