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Market SynopsisGlobally, the identity governance and administration (IGA) market is expected to grow from USD 3.64 billion in 2019 to USD 9.00 billion by 2024 at a CAGR of 16.8%. The market growth can be attributed to the innovations for improving identity related processes in the organization and need to meet compliance requirements. IGA is a single platform that enable enterprises to manage the entire lifecycle of all its employees' identities, right from joining the organization to their retirement. For small-sized enterprises, it is easier to manage its employees' identities but for large and medium-sized enterprises it becomes a challenge to do it on a large scale. Although, the IGA market is experiencing rapid growth in all parts of the world, its high cost and less need in small and medium-sized enterprises (SMEs) are acting as restraining factors for the market.An IGA system comprises two major components—identity administration and identity governance. The key capabilities of identity administration include connectors, password management, access request workflow management, automated provisioning, and application entitlement management. Identity governance offers capabilities, such as policy enforcement and segregation of duties, access certification, application entitlement discovery, role discovery and engineering, role modeling and simulation, role management, and configurable logging, analytics, and reporting. Key advantages of employing IGA solution are reduction in operational risks due to mismanagement of identity and access rights and enable employees to smoothly work in a centralized or distributed IT environment using PC, tablet, or smartphone.
IGA solutions are being adopted in almost every industry vertical from BFSI and government to retail and healthcare. BFSI holds the largest share in the IGA market while the healthcare segment is expected to register the highest CAGR from 2019 to 2024.
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Key Players
The prominent players in IGA market are SailPoint Technologies Holdings, Inc. (US), Oracle Corporation (US), IBM Corporation (US), One Identity LLC (US), CA Technologies (US), Saviynt Inc. (US), Micro Focus (UK), Hitachi ID Systems, Inc. (Canada), RSA Security LLC (US), Omada A/S (Denmark), AlertEnterprise (US), Core Security (US), SAP (Germany), Microsoft Corporation (US), and Atos SE (France).
Competitive Analysis
The IGA market witnesses the presence of many large as well as small- and medium-sized players. These players are significantly investing in their R&D activities and majorly adopting the strategy of launching new versions of the product on a frequent basis. Moreover, these players are actively researching in incorporating machine learning capabilities in their product offerings to make them unique in the market.
Segmentation
The global Identity Governance and Administration Market has been segmented based on component, deployment mode, organization size, industry vertical, and region/country.
By component, the market has been segmented into solution and services. The services segment has been futher bifurcated into professional and managed services. Professional services covered in the study are consulting services, implementation and integration services, and support services.
By deployment mode, the market has been segmented into cloud and on-premises.
By organization size, the market has been segmented into large enterprises and SMEs.
Based on industry vertical, the market has been segmented into banking, financial services, and insurance (BFSI), government and defense, healthcare, retail, manufacturing, telecom and IT, energy and utilities, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico; Europe into Germany, the UK, France, and the rest of Europe; Asia-Pacific into China, India, Japan, and the rest of Asia-Pacific; and the rest of the world into the Middle East & Africa and South America.
Regional Analysis
The global market for IGA is estimated to grow rapidly during the forecast period from 2019 to 2024. The geographic analysis of global IGA market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is presumed to have the largest market share in the global IGA market. The US, Canada, and Mexico are the leading countries in the region. The growth is attributed to the presence of large number of prominent vendors, and stringent regulatory environment related to identity management. Asia-Pacific is anticipated to be the fastest growing regional market in the global IGA market over the forecast period. Rapidly increasing number of businesses and rising demand for cybersecurity solutions are the key driving factors for the growth of IGA market in the region.
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Intended Audience
• Identity Governance and Administration Solution Providers
• Enterprises
• Cloud service providers
• IT Professional Service Providers
• IT Managed Service Providers
• Government Organizations
• Cybersecurity solutions providers
• Information Security Consultants
• Distributors and Value Added Resellers (VARs)
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
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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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