Okta - Market Share, Competitor Insights in Single Sign-On (SSO) (2024)

FAQs

Okta - Market Share, Competitor Insights in Single Sign-On (SSO)? ›

Okta has market share of 22.06% in single-sign-on-sso market. Okta competes with 22 competitor tools in single-sign-on-sso category. The top alternatives for Okta single-sign-on-sso tool are OneLogin with 40.77%, OneAll with 22.31%, AWS Single Sign-On with 5.12% market share.

AWS Single Sign-On has market share of 5.12% in single-sign-on-sso market. AWS Single Sign-On competes with 22 competitor tools in single-sign-on-sso category. The top alternatives for AWS Single Sign-On single-sign-on-sso tool are OneLogin with 40.77%, OneAll with 22.31%, Okta with 22.06% market share.

Okta's Solutions with its Benefits. Single Sign-On (SSO): With Okta's SSO, your users can access all their applications with a single set of credentials, eliminating the need to remember multiple usernames and passwords.

Okta has market share of 26.86% in identity-access-management market. Okta competes with 26 competitor tools in identity-access-management category. The top alternatives for Okta identity-access-management tool are OneLogin with 49.65%, Gigya with 6.08%, DIGIPASS with 5.07% market share.

For applications that support federated SSO through SAML, OIDC, or any other proprietary authentication protocol, Okta establishes a secure connection with a user's browser and then authenticates the user. With SSO, a central domain performs authentication and then shares the session with other domains.

Okta is a secure identity cloud that links all your apps, logins and devices into a unified digital fabric. With Okta, you're up and running on day one, with every app and program you use to work, instantly available.

Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a 10 percent share in that market.

SSO improves usability for employees

Signing in once also saves time, thus improving employee productivity. Given that 68% of employees switch between ten apps every hour, eliminating multiple logins can save a company considerable time and money.

Okta has market share of 22.06% in single-sign-on-sso market. Okta competes with 22 competitor tools in single-sign-on-sso category. The top alternatives for Okta single-sign-on-sso tool are OneLogin with 40.77%, OneAll with 22.31%, AWS Single Sign-On with 5.12% market share.

Okta's adaptive MFA provides strong authentication across all applications, and supports more third-party MFA factors like U2F, YubiKey, Smart Cards, Google Authenticator and more. Okta requires no on-premises MFA servers, and is easy to use for both administrators and end users.

What are the disadvantages of Okta? ›

The biggest problem with Okta: Cost

Okta relies on SAML for SSO and SCIM for provisioning — and here's the shocker: you need to upgrade your SaaS tool to an enterprise license to get SAML and SCIM support.

Overall, Okta's popularity for authentication and authorization is driven by how it changed cloud-based IAM for the better––with its ease of use, flexibility and integration features for the diversity of applications used today, and robust security features.

Okta features include Provisioning, Single Sign-On (SSO), Active Directory (AD) and LDAP integration, the centralized deprovisioning of users, multifactor authentication (MFA), mobile identity management, and flexible policies for organization security and control.

Modernize and consolidate your entire access management infrastructure. Okta's powerful integration capabilities let you weave your identity fabric into your overall Workforce, customer and business partner experience. There's no one size fits all: we'll tailor a unique migration playbook to your requirements.

What is the market size of Single Sign-on Market? 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).

Based on 28 Wall Street analysts offering 12 month price targets for Okta in the last 3 months. The average price target is $114.13 with a high forecast of $130.00 and a low forecast of $95.00. The average price target represents a 30.37% change from the last price of $87.54.

Future Growth

Okta is forecast to grow earnings and revenue by 41.1% and 11.1% per annum respectively. EPS is expected to grow by 46% per annum. Return on equity is forecast to be 8.2% in 3 years.

Okta Verify = Azure Authenticator

Each is a mobile app that users install on their mobile devices to authenticate with MFA. Both are near identical apps, they look the same, function similarly, and have the same enrollment setup process and usage.

Simplify access to your software as a service (SaaS) apps, cloud apps, or on-premises apps from anywhere with single sign-on (SSO).

Features and Benefits of Okta

Single Sign-On (SSO) and Multi-factor Authentication (MFA): Okta provides SSO capabilities, allowing users to access multiple applications and systems with a single set of credentials, and various MFA methods, such as SMS, email verification, push notifications, and hardware tokens.

Who is Okta owned by? ›

Okta was co-founded in 2009 by Todd McKinnon and Frederic Kerrest, who previously worked together at Salesforce. In 2015, the company raised US $75 million in venture capital from Andreessen Horowitz, Greylock Partners, and Sequoia Capital, at a total initial valuation of US$1.2 billion.

Office 365 continues to be the most popular application deployed using Okta for identity.

Single sign-on increases employee productivity by reducing the time they must spend signing on and dealing with passwords. Users with just one password to access all of their apps can skip all that extra time spent logging in. SSO solutions often give them access to a dock where all their apps are available.

Market share represents the percentage of an industry, or a market's total sales, earned by a particular company over a specified period. Market share is calculated by dividing a company's sales by the total sales of the industry over a period.

Single sign-on (SSO) is an identification method that enables users to log in to multiple applications and websites with one set of credentials. SSO streamlines the authentication process for users.

Single Sign-On (SSO) is a way to log in to multiple websites or applications using just one set of login credentials. This means you don't have to remember multiple usernames and passwords for different sites. Once you log in to one site, you can access other sites without having to log in again.