Global Identity
Governance and Administration Market Synopsis
According to MRFR, the global Identity Governance and Administration Market 2020 is expected to expand
from USD 3.64 billion in 2019 to USD 9.00 billion by 2024, at a CAGR of 16.8%.
Business development can be due to advances to
enhance the organization's identity-related processes, which must meet
regulatory requirements. IGA is a centralized platform allowing organizations
to handle the entire lifecycle of all the personalities of their employees,
starting from joining the company until they retire. This is easier for small
businesses to handle the identities of their workers but it is a problem for
large and medium-sized companies to do it on a large scale. Although the IGA market
is observing rapid growth in all parts of the world, its high cost and reduced
need for small and medium-sized enterprises ( SMEs) act as restrictive factors
for the market. Increasing regulatory compliances is the main driver of the
global market for governance and administration of identities.
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In addition, increasing demand from companies to identify
their customers, understand their access and audit their activities based on
security information has also boosted demand in the global market for
governance and administration of identities. Another factor fuelling growth in
this sector is globalization and rising data usage.
The main factor driving demand in this market is
increased implementation of identity governance and administration framework in
various vertical industries. Efficient management of sensitive data and the
potential to mitigate identity-based threats has also increased demand in the
global identity governance and administration market. In addition, substantial
rise in cloud-based technologies has also increased demand in this market ,
leading to cost-effectiveness and scalability of cloud-based identity
governance and administration solution.
Through the Internet of Things ( IoT) phenomenon,
bringing in your own devices (BYOD), and accessibility and remote workers are
driving these solutions for organizations. In addition, traditional IAM
(Identity Access Management) tools have been unable to help organizations meet
regulatory compliances which will turn their attention to identity management.
All of these factors would build new opportunities in the market for governance
and administration of global identity.
Market Segmentation
The global IGA market has been segmented based on
deployment mode, component, organization size, industry vertical, and region.
By component, the market has been bifurcated into
solution and services. The services segment has been futher divided into
professional and managed services. Professional services covered in the study
are implementation and integration services, consulting services, and support
services.
By deployment mode, the market has been divided into
cloud and on-premises.
By organization size, the market has been bifurcated
into SMEs and large enterprises.
Based on the industry vertical, the market has been
segmented into government and defense, banking, financial services, and
insurance (BFSI), healthcare, retail, manufacturing, energy and utilities,
telecom and IT, and others.
Regional Analysis
The global IGA market has been geographically
studied for North America, Europe , Asia-Pacific, Middle East & Africa ,
and South America.
It is believed that North America has the largest
market share in the global IGA market. The region's leading countries are the
US, Canada and Mexico. Growth is due to the existence of a large number of
influential vendors and a tight identity management regulatory environment. In
the forecast period Asia-Pacific is projected to be the fastest growing
regional market on the global IGA market. Rapidly growing numbers of companies
and rising demand for cybersecurity solutions are main drivers of growth of IGA
market in the region.
Key Players
The prominent players in IGA market are Microsoft
Corporation (US), One Identity LLC (US), SailPoint Technologies Holdings, Inc.
(US), Omada A/S (Denmark), Oracle Corporation (US), IBM Corporation (US),
Saviynt Inc. (US), Micro Focus (UK), CA Technologies (US), Hitachi ID Systems,
Inc. (Canada), RSA Security LLC (US), AlertEnterprise (US), SAP (Germany), Core
Security (US), and Atos SE (France).
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