PUBLISHER: Acute Market Reports | PRODUCT CODE: 1176017
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1176017
Global identity governance & administration market was valued at US$ 8.1 Bn in 2020 and expected to surge at a CAGR of 13.2% from 2021 to 2029. Identity theft across the world is rising at an alarming rate resulting in heavy financial losses to business organization. Identity governance and administration is fundamental building block of identity and access management (IAM) strategy. These tools manage access rights and digital identity across multiple systems by providing functions such as identity life cycle, access request, entitlement management, workflow management and policy & role management among several others. Evolving internal security and external compliance requirements expected to exert enormous pressure on organizations to regulate access to their systems and applications. This accomplished through combination of proactively preventing users from conflicting access rights and promptly identifying events of inappropriate assigned access. Identity management and governance solutions address such challenges by enabling centralized identity compliance policy management controls and automating the processes associated with meeting compliance & security demands.
In 2020, service segment was accounted to witness higher growth rate in overall global identity governance & administration market. Identity governance and administration services are critical to any organization, as it takes more than technology to get it right in real time applications. Pertaining to dynamic requirements of consumers, vendors are continuously aiming to offer customized services for efficient use of solution. Identity governance & administration services aim to support federated authorization, authentication and provisioning. Such services enable organizations to evade the expense of extending their own capabilities. However, emergence of cloud computing services has complicated the identity access management landscape, as control over access to sensitive data is difficult to maintain in such environment. Service providers allows reducing such infrastructure cost while supporting secure interaction with cloud computing environment. With growing trend towards cloud-based deployments, the service segment expected to witness significant growth across the forecast period.
Presently, overall identity governance & administration market worldwide led by North America. The U.S. primarily backs the market growth of the region with established corporate sector. An organizations comprising thousands of employees that deal with several complex systems is to consider incorporating identity governance & administration for its IT and Information Security schemes. For an instance, over 80% of U.S. organizations having approximately 1,000 employees and more have confirmed the interest towards adopting identity governance & administration solution. Asia Pacific set to register the higher growth rate during the forecast period. This is majorly due to rapidly growing IT infrastructure across the region. Significant growth of internet usage across the region, including rapid increases in access across countries like Japan, China and India has also accompanied by significant increases in identity theft. With growing awareness for identity access management the region expected to witness profound growth throughout the forecast period.
Some of the major players profiled in the report include: Oracle Corporation, International Business Machines (IBM) Corporation, Sailpoint Technologies, Inc., SAP SE, CA Technologies, Microsoft Corporation, Evidian S.A., RSA Security LLC, NetIQ, One Identity LLC, Saviynt Inc., Hitachi ID Systems, Omada A/S, AlertEnterprise, Atos, Centrify, Ipsidy, Confluxsys LLC and others.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Identity Governance And Administration market are as follows:
Micro and macro environment factors that are currently influencing the Identity Governance And Administration market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.