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Identity Governance And Administration Market

Identity Governance and Administration Market Forecasts to 2028 – Global Analysis By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), Component (Solution, Services), Deployment Type, End User, and By Geography

4.3 (65 reviews)
Published: March 2022 ID: SMRC18157
4.3 (65 reviews)
Published: March 2022 ID: SMRC18157

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Identity Governance and Administration Market is accounted for $5.72 billion in 2021 and is expected to reach $16.17 billion by 2028 growing at a CAGR of 16.0% during the forecast period. Identity Governance and Administration tools act as catalysts for fulfillment, efficiency and approach of a business. The aggregate data then serves as a basis of some core its functions. This tool combine and combine different identity and access rights of data, which is spread throughout the IT landscape of a business, so as to boost control over user access. An identity governance and administration system consists of two major elements, which is the identity administration and identity governance. The key abilities of identity administration consist of connectors, password management, access request workflow management, automated provisioning, and application entitlement management.

Market Dynamics:

Driver:

Rising organizations focus on meeting regulatory compliances


An identity governance and administration system consists of two major elements, which is the identity administration and identity governance. The key abilities of identity administration consist of connectors, password management, access request workflow management, automated provisioning, and application entitlement management. The increasing attention of organizations in the direction of meeting administrating compliances, the demand to improvise the operational effectiveness of identity procedures along with organizations the demand to meet compliance requirements and the globalization and growing utilization of data are some of the factors further boosting the growth of the identity governance and administration market in the forecast period.

Restraint:

High expenditure


Identity governance and administration solutions are expensive. The high expenditure of this solution is a restraint to the market. Most organizations try to cut down unnecessary costs. However, the deployment of this technology adds more cost.  Due to the high cost, the technology is less suitable for small scale organisations. The huge initial costs of installation owing to added costs of installation and equipment can hamper the identity governance and administration market growth. Use of expensive software, light sources, and control systems can deter potential clients. Also, the high expenses and the low demand in the small and medium-sized enterprises (SMEs) are further expected to hinder the growth of the identity governance and administration market in the forecast period.

Opportunity:

Increasing government regulations


The government regulations surrounding identity governance and administration are also driving the growth of the market as an adoption rate is on the rise. For instance, IGA solutions that address SOX compliance requirements include centralization 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, automatic logging and tracking tools that generate clear reports for compliance audits. The rapid rise in cloud services, social and mobile, has made traditional firewall systems increasingly outmoded. Digital identity has become crucial for enforcing access controls. As a result, IGA has become a significant priority for the modern enterprise. These solutions that were once viewed as an operational back-office issue, is gaining board-level visibility following several high-level breaches that have occurred due to the failure of organizations to manage and control user access effectively. The prominence of these solutions has been further elevated by an evolving regulatory landscape and trends such as Bring Your Own Device (BYOD) and cloud adoption, while the risks related to access to information and data have also increased.

Threat:

Absence of awareness

The absence of awareness about identity governance and administration is the major threatening factor most likely to hamper the growth of the identity governance and administration market. Campaigns like the massive “Digital India Initiative”, and limited awareness on the importance and impact of cybersecurity are driving the government to prepare itself to fight cybercrime with robust regulations, legal frameworks, and implementable laws. Owing to this absence of awareness, the managing identities across multiple operation environments will further challenge the growth of the identity governance and administration market in the upcoming future.

The services segment is expected to be the largest during the forecast period

The services segment is estimated to have a lucrative growth. Identity management involves diverse services to proactively identify the concerns and recommend the appropriate solution to resolve the identity-related issues. Identity governance and administration services are the assistance offered by solution vendors to enable customers to efficiently use identity governance and administration solution and maintain them. The identity management services market is dynamic; thus, vendors keep adding and offering different services, such as professional services and managed services, to expand their customer base.

The small and medium-sized enterprises segment is expected to have the highest CAGR during the forecast period

The small and medium-sized enterprises segment is anticipated to witness the fastest CAGR growth during the forecast period.  The SMEs segment is the fastest-growing segment in the identity governance and administration market, as cloud-based solutions and services help them improve business performance, whereas the large enterprises segment is expected to hold a larger market size in the market, owing to the affordability and the early adoption of emerging technologies. The identity governance and administration solution enables enterprises to strengthen their security and reduce frauds while enhancing their customer experience. Hence, security is imperative for any organization irrespective of its size.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. Asia-Pacific is expected to observe significant amount of growth in the identity governance and administration market because of the swiftly rising number of businesses and the increasing need for cybersecurity solutions are the factors further anticipated to propel the growth of the identity governance and administration market in the region during the forecast period.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period owing to the growing adoption of identity governance and administration solution and services among enterprises in the region. The major identity governance and administration vendors in North America have adopted several strategies to enhance their existing product portfolio and expand their presence in the identity governance and administration market. With the growing demand for identity governance and administration solution and services across industry verticals, the US is expected to be the major revenue contributor to the market in North America. Additionally, the region has been an early adopter and a host to innovative initiatives for advanced security solutions and practices. Most identity governance and administration vendors, including the major players, have a direct or an indirect presence in this region via system integrators, distributors, and resellers.

Key players in the market

Some of the key players profiled in the Identity Governance and Administration Market include Oracle Corporation, IBM Corporation, Sailpoint Technologies Holdings Inc, SAP SE, Broadcom Inc, Microsoft Corporation, Evidian (Bull International SAS), Hitachi ID Systems, ProofID, Cognizant Corporation, Okta Inc, and Dell Technologies Inc.

Key Developments:

In May 2020, Okta, Inc. launched New Native Identity Integration with Amazon Web Services to improve security, simplify the user experience, and expand automation capabilities for large, complex organizations. Available immediately through the Okta Integration Network, the new ability enables Okta customers to provision identities to AWS SSO for authorization management, delivering automatic synchronization of user identities and groups to eliminate considerable complexity.

In May 2020, SAP SE announced that the company GEA had entered a strategic partnership with SAP, intending to drive enterprise-wide digital transformation. The partnership will focus on implementing a global ERP system based on SAP S/4HANA, with which GEA plans to capture the full potential of the intelligent use of data within a company.

Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises
 
Components Covered:
• Solution
• Services
 
Deployment Types Covered:
• On-Premises
• Cloud
 
End Users Covered:
• Energy and Utilities
• Banking, Financial Services, and Insurance
• Manufacturing
• Retail and Consumer Goods
• Government and Defense
• Healthcare and Life Sciences
• Telecom and IT
• Education
• Transportation and Logistics

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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