The growing demand for identity management of employees in an organization for security concerns can impel the global identity governance and administration (IGA) market growth, reveals Market Research Future (MRFR). At the same time, it is noted that IGA solutions can reduce potential operational risks in the IT environment. Industrialization is causing an expansion in the global workforce. Hence, IGA solutions and services are being widely adopted by different verticals to manage and officially identify individual employees. Government institutions are extensively deploying identification solutions as the need for resolving national security issues is a rising concern. Moreover, an increase in terror attacks is causing a surge in the adoption of IGA services due to their effective and strict identification procedures. The IGA market can tap into about 17% CAGR and value at USD 9.00 billion by 2024, predicts MRFR.
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The global market of identity governance and administration is studied in segments to get deliver a precise understanding of the market. The IGA market is assessed by deployment mode, component, organization size, and industry vertical.
The component-based segments of the IGA market are; services and solution. The services segment comprises professional services and managed services. The professional service segment comprises implementation and integration services, consulting services, and support services. The service segment owing the presence of potential service providers can cause spur in the global IGA market growth. MRFR findings reveal, the service segment can thrive at a high CAGR and the solution segment is likely to create opportunities for the global market to grow.
The deployment mode-based segments are; on-premises and cloud. The organization size-based segments are; large enterprises and SMEs. Increase in the adoption of cloud-based technology due to greater scalability and business continuity offered by it can cause the cloud segment to expand at a high CAGR in the review period. This, in turn, can benefit the worldwide IGA market. The industry vertical-based market segments are; BFSI, banking, healthcare, government and defense, manufacturing, retail, energy and utilities, telecom and IT, and others. The growing need for identification for security purposes in BFSI to safeguard money is expected to act as a potential propeller for the IGA market growth. The BFSI segment can generate high turnover for the global market of identity governance and administration.
MRFR identified some robust vendors of the Identity Governance and Administration Market. They are; Oracle Corporation (US), SailPoint Technologies Holdings, Inc. (US), One Identity LLC (US), IBM Corporation (US), Saviynt Inc. (US), CA Technologies (US), Hitachi ID Systems, Inc. (Canada), RSA Security LLC (US), Microsoft Corporation (US), Micro Focus (UK), AlertEnterprise (US), Omada A/S (Denmark), SAP (Germany), Core Security (US), and Atos SE (France).
In North America, the exhibit rapid expansion of the IGA market owing to the existence of numerous potential IGA solution providers. An increase in cases of cyber theft are reported. The BFSI vertical holds the highest risk for security tamper. Hence, the high rate of adoption of IGA solutions and services across government and private financial institutions are factors that can cause the expansion of the regional IGA market. The US, followed by Canada and Mexico, to contribute significantly to the expansion of the North America IGA market. Similar market growth inducers are observed in Europe. The UK can lead in the EU IGA market through the evaluation period. The IGA market in Asia Pacific is emerging as the rapid adoption of IGA solutions across the IT sector is observed. The fast-expansion of the IT and increase in utility of IGA in the government and the defense sector are likely to cause the APAC IGA market to surge.
LIST OF TABLES
Table 1 Global Identity Governance And Administration Market, By Region, 2018–2024
Table 2 North America: Identity Governance And Administration Market, By Country, 2018–2024
Table 3 Europe: Identity Governance And Administration Market, By Country, 2018–2024
Table 4 Asia-Pacific: Identity Governance And Administration Market, By Country, 2018–2024
Table 5 Middle East & Africa: Identity Governance And Administration Market, By Country, 2018–2024
LIST OF FIGURES
FIGURE 1 Global Identity Governance And Administration Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of The Global Identity Governance And Administration Market
FIGURE 4 Value Chain Of The Global Identity Governance And Administration Market
FIGURE 5 Share Of The Global Identity Governance And Administration Market, By Country, 2017 (In %)
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