Several market players are gaining a competitive advantage in the market through innovations. However, the market is shifting toward the consolidation of various smaller players.
The identity governance and administration market comprise of several global and regional players, a moderately fragmented market space. The Asia-Pacific region is expected to show maximum adoption of cloud identity and access management solutions, due to various factors, such as growing adoption of technologies, like cloud technology, digitization, AI, IoT, etc., across various end-user industries in the region. This global rise in data breaches is due to a considerable increase in data breaches in individual industry verticals.Īsia Pacific is Expected to Hold Major Share According to Verizon Data Breach Investigations Report, 2019, out of 41,686 security incidents, 2,013 were confirmed data breaches. With identity thefts and data breaches increasing, there is a rapid rise in the need for IGA solutions. Identity governance and administration solutions are primarily used to initiate, capture, record, and manage user identities and their access permissions. In the short run, the market is expected to witness demand due to work from home practices however, this is expected to come back to normal levels in the post-COVID scenario.Ĭloud Migration to drive the Growth of the Market Therefore though the percentage of adoption for identity governance and administration has seen an upward trend, the adoption of the same entirely depends on the requirement and urgency for the deployment of the solution. Organizations are focused on optimizing their resources to maintain business continuity.
The spread of COVID-19 has brought budget cuts and dwindling resources along with it. Moreover, government regulations surrounding identity governance and administration are also driving the growth of the market as the adoption rate is on the rise. Thus the need for centralized visibility over both on-premises and cloud applications and data files across the organization are significant factors driving the growth of the market. The rapidly growing globalization has led to increased complexity in operations.
Governance also includes managing segregation of duties, alerting when conflicting access is noticed/discovered/detected/granted.
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The IGA solutions offer streamlined provision based on roles designed as per the requirements of the client organization, Continuous monitoring of access and entitlements to stay on top of the changes, full visibility of all-access, and rights to make informed decisions. The Identity Governance and Administration Market is estimated to grow at a CAGR of 17.2% during the forecast period (2020-2025). 19, 2021 (GLOBE NEWSWIRE) - The "Identity Governance and Administration Market - Growth, Trends and Forecasts (2020-2025)" report has been added to 's offering.