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The Identity Governance and Administration market is projected to grow by USD 3.25 billion between 2023 and 2027 at a CAGR of 12.41%. Market growth hinges on various factors, such as heightened organizational emphasis on adhering to regulatory norms, a surge in global incidents of data breaches, and the swift expansion of IoT networks. However, several challenges impede this growth trajectory. These challenges encompass substantial expenditure, a dearth of awareness regarding Identity Governance and Administration (IGA), and networking and connectivity hurdles associated with cloud-based IGA solutions.
The emphasis on regulatory compliance underscores the importance of robust security measures within organizations, propelling the demand for IGA solutions. Concurrently, the escalating frequency of data theft incidents worldwide accentuates the urgency for robust identity management frameworks. Moreover, the rapid proliferation of IoT networks amplifies the complexity of managing identities and access across diverse endpoints. Despite these growth catalysts, organizations grapple with the financial burden posed by implementing IGA solutions, compounded by insufficient awareness about their benefits. Additionally, networking and connectivity issues pose significant obstacles, particularly concerning the integration of cloud-based IGA solutions into existing infrastructure. Navigating these challenges is crucial for realizing the full potential of the IGA market.
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The report extensively covers market segmentation by deployment (on-premise and cloud), end-user (BFSI, IT and telecom, energy and utilities, government and defense, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the on-premise segment will be significant during the forecast period. Unlike the cloud-based deployment model, in the on-premises deployment model, the company's operations only depend on the in-house server, the IT infrastructure, the in-house IT team, and the intranet. The organization has complete control over these components and can resolve any problem that arises. This is the primary driving factor of the segment.
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The on-premise segment was valued at USD 1.80 billion in 2017 and continued to grow until 2021. The market is mainly dominated by large organizations that consider data privacy and security a high priority. Data leakage can be disastrous for stakeholders' interests and the reputation of the organization. These organizations focus more on functionality than on cost-effectiveness. The high security and data privacy offered by the on-premises deployment model drive market growth. In this technologically advanced and threat-enhanced environment, enterprise risk management is of prime importance. Hence, the above-mentioned factors are expected to fuel the growth of the on-premises segment in the market during the forecast period.
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The availability of adequate IT and business infrastructure, IT security compliance and governance regulations, and the high adoption of cloud-based IT security solutions and services are some major factors driving the adoption of IGA solutions in North America. The demand for IGA solutions is further enhanced due to the growing number of cyberattacks on enterprises by malicious practitioners to gain access to confidential data. Thus, encouraged the governments of North American countries to adopt IGA solutions. In addition, IGA solutions are preferred by many industry verticals in the region, especially services and industrial sectors, to enhance the quality of delivery systems.
Furthermore, owing to North America's strong financial position, it is able to make significant investments in implementing the most innovative and cutting-edge technology and tools to guarantee efficient corporate operations. These benefits give IGA vendors in this area a competitive edge. When it comes to the adoption of advanced technology such as cloud platforms, IGA software, and smartphones, North America enjoys the first-mover advantage. Several major corporations have their headquarters in North America, which also serves as the host of various global events. North America receives huge investments from businesses along with favorable economic growth. Hence, such factors are expected to fuel the growth of the regional market during the forecast period.
In the realm of Identity Governance and Administration (IGA), mobile access to enterprise systems plays a pivotal role, facilitated by robust Identity and Access Management (IAM) solutions. Enterprises, including those in the BFSI sector, face mounting challenges such as budget cuts and the imperative for business continuity amidst cloud migration. As industries worldwide strive to meet industry standards, identity management services emerge as crucial components, offering auditing and compliance audits to safeguard against breaches and data breaches. Solution vendors like IBM Corporation, Microsoft Corporation, Oracle Corporation, Okta, Inc., and Amazon Web Services provide security solutions tailored to diverse deployment modes, including cloud services. The advent of IoT technologies further underscores the necessity for robust IGA frameworks, with SAP S/4HANA leading the charge in ERP systems. In this landscape, Okta, Inc. stands as a notable player, alongside SAP SE, offering comprehensive solutions to address the evolving needs of industries across the globe. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising organizational focus on complying with regulatory standards is notably driving the identity and access management market growth. An IGA system is composed of two major components, namely identity administration and identity governance. Connectors, password management, access request workflow management, automated provisioning, and application entitlement management are some of the core capabilities of identity administration.
The increasing attention of organizations on meeting administrative compliance regulations, the need to improve the operational efficacy of identity procedures alongside organizational demand to meet compliance requirements, and globalization and the growing utilization of data are some of the factors that will drive the growth of the global IGA market during the forecast period.
Increasing government regulations is an emerging trend in market growth. The government regulations on IGA are driving the growth of the market as the adoption rate is on the rise. For instance, IGA solutions that address compliance requirements with the Sarbanes-Oxley Act (SOX) in the US include centralized administration of access management and identity governance, enforcement of segregation of duties (SoD) policies, regular auditing to verify user rights and permissions across the infrastructure, and automatic logging and tracking tools that generate clear reports for compliance audits.
Traditional firewall systems have become obsolete due to the proliferation of the cloud, social media, and mobile applications. Digital identification has become critical for implementing access controls. As a result, IGA has become a high priority for modern businesses. Following many high-level security breaches that were caused by the failure of firms to manage and regulate user access adequately, these IGA solutions are receiving board-level awareness. Evolving legal frameworks and trends like bring-your-own-device (BYOD) policies and cloud adoption have increased the importance of these solutions. Hence, such factors are expected to fuel the growth of the IGA market during the forecast period.
The high expenditure is a major challenge impeding market growth. IGA solutions are expensive. The high price of these solutions is a market challenge. Most businesses strive to reduce any needless expenditure. However, the adoption of this technology incurs additional costs.
The high initial installation costs due to additional expenditure on installation and equipment might hinder the IGA market's expansion. Potential clients may be put off by the usage of pricey software. Furthermore, high expenditure and poor demand among small and medium-sized organizations (SMEs) are expected to impede the growth of the market throughout the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Atos SE- Atos SE is a public company headquartered in France. The company offers identity governance and administration services.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
In the ever-evolving landscape of cloud services, social and mobile platforms, and digital identity, Identity Governance and Administration (IGA) stands as a cornerstone for businesses. However, challenges such as budget cuts and the imperative for business continuity compel enterprises, especially in the BFSI sector, to navigate the complexities of cloud migration and on-premises software. With the proliferation of IoT technologies, managing identity and access becomes paramount. Key players like IBM Corporation, Microsoft Corporation, Oracle Corporation, and Amazon Web Services offer solutions to address these needs. As industries across the globe strive for operational effectiveness in a data-driven world, security and privacy concerns, compliance obligations, and safeguarding against fraudulent activities remain critical.
Emerging technologies like blockchain offer promise in ensuring secure and transparent identity management solutions, cutting out middlemen and duplicate identity repositories. Enterprises leverage identity analytics to detect policy infractions and inactive accounts, mitigating the risks of unauthorized access and data breaches. From SMEs to large enterprises, the demand for cloud-based IGA solutions continues to grow, facilitated by solution vendors offering professional and managed services. In healthcare, telemedicine, and e-health applications, safeguarding patients' sensitive data is imperative, especially in handling health insurance and online payments through e-wallets and digital/retail banking platforms. As businesses adopt advanced IT systems, ensuring robust identity governance and administration becomes essential, safeguarding against the escalating threats of cybercrimes and fraudulent activities while leveraging the potential of developing technologies to fortify security measures and uphold compliance standards.
Identity Governance And Administration Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.41% |
Market growth 2023-2027 |
USD 3.25 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.12 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AlertEnterpise Inc., Atos SE, Bravura Security Inc., Broadcom Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., International Business Machines Corp., IPG Information Process Group AG, Micro Focus International Plc, Microsoft Corp., Okta Inc., Omada AS, Optiv Security Inc., Oracle Corp., ProofID Ltd., RSA Security LLC, SailPoint Technologies Holdings Inc., SAP SE, Saviynt Inc., and SecureAuth Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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