Identity Governance and Administration Market advances with data privacy regulations, supporting secure, compliant user access management.

AUSTIN, TX, UNITED STATES, November 7, 2024 /EINPresswire.com/ -- Market Scope and Overview

The growth of the Identity Governance and Administration Market is driven by organizations' need to manage user access and comply with regulatory requirements in an increasingly digital landscape.

According to the S&S Insider report, the Identity Governance and Administration Market size was valued at USD 7.45 billion in 2023 and is expected to grow to USD 23.01 billion by 2032, achieving a compound annual growth rate (CAGR) of 13.38% over the forecast period of 2024-2032.

The IGA market is experiencing substantial growth as organizations prioritize security, compliance, and operational efficiency. Rapid digital transformation and a surge in cyber threats underscore the need for effective identity management solutions. Organizations face challenges in managing user identities, controlling access to sensitive information, and adhering to regulations like GDPR and HIPAA, driving demand for IGA solutions that enhance security and streamline these processes.

Technological advancements are also propelling market expansion. Innovations in machine learning, artificial intelligence, and analytics empower IGA solutions to provide deeper insights into user behavior, enabling organizations to identify and address potential security risks more effectively. The rise of cloud service adoption further fuels demand for scalable identity management solutions that integrate with diverse applications and platforms. Additionally, compliance with strict regulatory standards has become essential; failure to comply can lead to significant penalties and reputational damage, prompting companies to adopt IGA solutions that automate compliance, monitor user access, and ensure regulatory conformity.

The shift to remote work has intensified the need for secure access controls. With more employees accessing corporate resources from various locations and devices, robust identity governance practices are necessary to protect sensitive information. This shift has accelerated the adoption of IGA solutions that offer features like single sign-on, multifactor authentication, and user provisioning. As organizations become more focused on data privacy, the demand for IGA solutions that ensure data integrity and compliance with privacy regulations is expected to grow, providing vendors opportunities to enhance their offerings for data protection.

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Some of the Major Key Players Studied in this Report are:

➤ SecureAuth
➤ Oracle
➤ Omada
➤ IBM
➤ AlertEnterprise
➤ SailPoint
➤ Hitachi ID
➤ Microsoft
➤ NetIQ
➤ Evidian
➤ Other Players

Segmentation Analysis

By Deployment

➤ On-Premises: The on-premises segment dominated the IGA market in 2023, as large enterprises prioritize control over their sensitive data and security protocols. Many of these organizations have robust IT infrastructures that support complex identity management needs. Increased regulatory compliance and data privacy concerns are motivating enterprises to invest in on-premises solutions, allowing them to retain complete control over data access and management. While this segment remains significant, its growth may plateau as businesses seek more flexible alternatives.

➤ Cloud: The cloud segment is projected to achieve the highest CAGR in the IGA market, driven by demand for scalable, cost-effective, and easily deployable identity management solutions. Remote work and the need for secure access from various locations further support the adoption of cloud-based IGA solutions. Technological advancements, including enhanced security features from cloud service providers, make these solutions increasingly attractive. The cloud segment is expected to expand substantially as more organizations embrace cloud infrastructures for digital transformation initiatives.

Market Segmentation and Sub-Segmentation Included Are:

On The Basis of Component
➤ Solution
➤ Services

On The Basis of Organization Size
➤ Large enterprises
➤ Small and Medium-sized Enterprises

On The Basis of Deployment Type
➤ On-Premises
➤ Cloud

On The Basis of Vertical
➤ BFSI
➤ Government and Defense
➤ Telecom and It
➤ Healthcare and Life Sciences
➤ Energy and Utilities
➤ Retail and Consumer Goods
➤ Manufacturing
➤ Others

Regional Landscape

North America leads the IGA market, supported by a strong presence of established firms and a significant focus on regulatory compliance. Advanced IT infrastructure and proactive digital adoption enable effective deployment of comprehensive IGA solutions. Concerns over cyberattacks and data breaches drive investment in robust identity management systems to secure sensitive information. Government regulations, such as GDPR and HIPAA, also support growth by enforcing stringent identity governance practices. Although North America is likely to maintain its leadership, growth may plateau as emerging markets gain momentum, increasing competition.

Asia-Pacific is expected to record the highest CAGR in the IGA market, primarily due to rapid digital transformation and heightened data security awareness among organizations. As businesses in countries like India, China, and Japan embrace cloud computing and advanced technologies, demand for scalable and effective identity management solutions continues to rise. The expanding middle-class population and increasing internet penetration further prompt companies to adopt IGA solutions for digital asset protection. Stricter regulatory frameworks and a stronger emphasis on cybersecurity suggest that Asia-Pacific will experience significant growth, solidifying its role as a key player globally.

Recent Developments

➤ January 2024: Microsoft announced enhancements to its Entra identity management solutions, focusing on integrating artificial intelligence for improved user identity verification, streamlining compliance, and enhancing user experience across various platforms.

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Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Identity Governance and Administration Market Segmentation, by Component
8.1. Solution
8.2. Services

9. Identity Governance and Administration Market Segmentation, by Organization Size
9.1. Large enterprises
9.2. Small and Medium-sized Enterprises

10. Identity Governance and Administration Market Segmentation, by Deployment Type
10.1. On-Premises
10.2. Cloud

11. Identity Governance and Administration Market Segmentation, by Vertical
11.1. BFSI
11.2. Government and Defense
11.3. Telecom and IT
11.4. Healthcare and Life Sciences
11.5. Energy and Utilities
11.6. Retail and Consumer Goods
11.7. Manufacturing
11.8. Others

12. Regional Analysis
12.1. Introduction
12.2. North America
12.3. Europe
12.4. Asia-Pacific
12.5. The Middle East & Africa
12.6. Latin America

13. Company Profile

14. Competitive Landscape
14.1. Competitive Benchmarking
14.2. Market Share Analysis
14.3. Recent Developments

15. USE Cases and Best Practices

16. Conclusion

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