Identity Governance and Administration Platforms Market Size, Share, Growth, and Industry Analysis, By Type (On-Premises and Cloud), By Application (Large enterprises and Small and Medium-sized Enterprises (SMEs)) and Regional Forecast to 2032

Updated On: 29 April 2024

IDENTITY GOVERNANCE AND ADMINISTRATION PLATFORMS MARKET REPORT OVERVIEW

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The global identity governance and administration platforms market size was USD 5664.1 million in 2021 and the market is projected to touch 20516.8 million by 2032, exhibiting a CAGR of 12.3% during the forecast period.

Identity Governance and Administration (IGA) platforms play a crucial role in managing and securing digital identities within an organization. These platforms are designed to ensure that only authorized individuals have access to the right systems, applications, and data, while also providing visibility and control over user permissions. IGA solutions typically encompass identity provisioning, access management, compliance monitoring, and role-based access control.

One key aspect of IGA platforms is identity lifecycle management, which involves the automated and efficient onboarding, modification, and offboarding of user identities. This helps organizations streamline processes, enhance security, and maintain compliance with regulatory requirements. IGA platforms also facilitate the enforcement of policies and regulations by allowing organizations to define and enforce access policies, monitor user activity, and generate audit reports.

COVID-19 IMPACT: Increased Emphasis on Remote Access Security to Boost Market Growth Significantly

The global COVID-19 pandemic has been unprecedented and staggering, with the identity governance and administration platforms market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The shift to widespread remote work during the pandemic has heightened concerns about cybersecurity and identity-related risks. Organizations have become more focused on securing remote access to their networks, applications, and sensitive data. IGA platforms have gained prominence in helping organizations manage and secure digital identities, ensuring that users have appropriate access levels irrespective of their physical location.

The urgency to adapt to remote work and digital collaboration has accelerated digital transformation initiatives. Organizations are modernizing their IT infrastructure, adopting cloud services, and implementing advanced technologies. IGA platforms are integral to these transformations, helping organizations manage identities across hybrid IT environments and ensuring a secure and compliant digital ecosystem. The market is anticipated to boost the identity governance and administration platforms market growth following the pandemic.

LATEST TRENDS

"Integration with Latest Technologies to Drive Market Growth"

Advanced analytics, artificial intelligence (AI), and machine learning (ML) are being incorporated into IGA platforms. These technologies enhance the ability to detect and respond to anomalies, automate identity-related tasks, and improve overall security by identifying patterns indicative of potential threats. The Zero Trust security model, which assumes no implicit trust and verifies everything, has gained prominence. IGA platforms are increasingly integrating with Zero Trust principles, ensuring continuous verification of user identities and access requests, irrespective of their location or network. These latest developments are anticipated to boost the identity governance and administration platforms market growth market share.

IDENTITY GOVERNANCE AND ADMINISTRATION PLATFORMS MARKET SEGMENTATION

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• By Type                

Based on type the global market can be categorized into On-Premises and Cloud.

On-Premises: On-premises, often abbreviated as "on-prem," refers to the traditional model of deploying software and infrastructure within an organization's physical premises or data centers. In this model, organizations purchase, install, and maintain their own hardware, servers, and software applications.

Cloud: Cloud computing involves accessing and utilizing computing resources, including servers, storage, databases, networking, software, analytics, and more, over the internet. These resources are hosted and managed by cloud service providers in data centers located globally.

• By Application

Based on application the global market can be categorized into Large enterprises and Small and Medium-sized Enterprises (SMEs).

Large enterprises: Large enterprises often have complex organizational structures with numerous employees, departments, and access points. IGA platforms help manage user identities across the entire enterprise, ensuring that each individual has the appropriate access privileges based on their role.

Small and Medium-sized Enterprises (SMEs): SMEs often operate with limited resources. IGA platforms in SMEs aim to efficiently manage user identities and access permissions, optimizing resource utilization and reducing the need for extensive administrative efforts.

DRIVING FACTORS

"Rising Concerns About Cybersecurity to Boost the Market"

The escalating frequency and sophistication of cyber threats have heightened concerns about data breaches and unauthorized access. Organizations are investing in IGA platforms to strengthen their identity management practices, enforce access controls, and mitigate the risk of cybersecurity incidents. Insider threats, whether intentional or unintentional, pose a significant risk to organizations. IGA platforms aid in mitigating insider threats by implementing role-based access controls, monitoring user activity, and conducting regular access reviews to ensure that employees have appropriate access levels based on their roles.

"Acceleration of Digital Transformation to Expand the Market"

Organizations globally are undergoing digital transformation initiatives, adopting cloud services, and modernizing their IT infrastructure. IGA platforms play a crucial role in managing digital identities across diverse environments, including on-premises and cloud-based systems, ensuring a secure and well-governed digital ecosystem. The shift to remote work, accelerated by global events such as the COVID-19 pandemic, has emphasized the need for secure remote access and identity management. IGA platforms help organizations maintain control over user access, even in decentralized and remote work environments, reducing the risk of unauthorized access. These factors are anticipated to drive the identity governance and administration platforms market share.

RESTRAINING FACTOR

"Complex Implementation and Integration to Potentially Impede Market Growth"

Deploying IGA platforms can be complex, requiring integration with existing IT systems, applications, and databases. The complexity of implementation may lead to longer deployment times, increased costs, and potential disruptions to existing workflows. The shortage of skilled cybersecurity professionals, including those with expertise in identity management and governance, is a challenge. Organizations may struggle to find and retain qualified personnel who can effectively configure, manage, and optimize IGA platforms. The factors are anticipated to hinder the growth of the identity governance and administration platforms market growth.

IDENTITY GOVERNANCE AND ADMINISTRATION PLATFORMS MARKET REGIONAL INSIGHTS

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"North America is Dominating the Market with Robust Technological Infrastructure and Connectivity"

"The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

North America, particularly the United States, has been a global leader in technology adoption. The region has a large number of businesses that embrace digital transformation, leading to a high demand for advanced cybersecurity solutions, including IGA platforms. North America is home to numerous large enterprises across various industries, including finance, healthcare, technology, and manufacturing. These sectors often deal with sensitive data and regulatory compliance requirements, making identity governance and administration a critical aspect of their cybersecurity strategies. The region boasts advanced IT infrastructure, with widespread adoption of cloud services and modern technologies. IGA platforms often need to integrate with diverse IT ecosystems, and North America's advanced infrastructure facilitates seamless integration and deployment.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Oracle Corporation [U.S.]
• IBM (International Business Machines Corporation) [U.S.]
• SailPoint Technologies [U.S.]
• SAP SE [Germany]
• Broadcom Inc. [U.S.]
• Microsoft Corporation [U.S.]

INDUSTRIAL DEVELOPMENT

August 2020: IBM Security Identity Governance and Intelligence (IGI) is a comprehensive solution designed to address identity governance challenges within organizations. It provides a set of tools and features to manage user access, ensure compliance with regulations, and enhance overall security.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.