Identity Based Encryption (IBE) is a public key cryptosystem where a unique identity string, such as an e-mail address, can be used as a public key. IBE is simpler than the traditional PKI since certificates are not needed. An IBE scheme is usually based on pairing of discrete points on elliptic curves. An IBE scheme can also be based on quadratic residuosity. This paper presents an overview of these IBE schemes and surveys present IBE based security services. Private key management is described in detail with protocols to authenticate users of Private Key Generation Authorities (PKG), to protect submission of generated private keys, and to avoid the key escrow problem. In the security service survey IBE implementations for smartcards, for smart phones, for security services in mobile networking, for security services in health care information systems, for secure web services, and for grid network security are presented. Also the performance of IBE schemes is estimated.