Okta's Addressable Market Is Getting Even Bigger

Okta (NASDAQ: OKTA) is set to cross the $1 billion revenue mark this year, but in some ways the identity-for-the-cloud specialist still looks like a small fish in a big pond. When Okta had its IPO in 2017, it had identified a total addressable market (TAM) of $18 billion, primarily in workforce identity management, the company's core business, which allows employees to log in and get access smoothly and securely. Later, customer identity access management became a major business for Okta, and it upgraded its overall TAM to $55 billion: $30 billion in workforce identity and $25 billion on the customer side.