Identity Governance and Administration Market
Identity Governance and Administration (IGA) is a set of policies, processes, and technologies used to manage and secure digital identities within an organization or enterprise.
IGA enables security administrators to efficiently manage user identities and access across the enterprise, providing administrative control of digital identities and access rights across multiple systems. It provides automation capabilities for creating and managing user accounts, roles, and access rights for individual users or groups based on their job function or the level of data they need to access.
The Identity Governance and Administration Market Size will grow USD 14.7 billion at a CAGR 15.20% during the forecast period. The Identity Governance and Administration is a crucial program for an organization. It is a technology that allows the business to keep track of the company’s lifecycle and employees’ identity.
The goal of IGA is to ensure that the right individuals have access to the right resources within the organization while also enforcing compliance with regulatory requirements and security policies . It provides a comprehensive view of user accounts and resources, holding the identity, entitlement, and risk information of each resource being managed 6.
In summary, IGA is a critical component of IT operations and security, allowing organizations to manage and secure digital identities for all users, applications, and data while mitigating cyber risks.
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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. The BFSI segment is expected to be the largest contributor while the healthcare segment is expected to grow with the highest CAGR from 2019 to 2024.
Key Players:
Market Research Future recognizes the following vendors as prominent players in the IGA market— 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).
Regional Analysis
A geographic analysis of the global identity governance and administration (IGA) market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America has been segmented into the US, Canada, and Mexico. The regional market is expected to be the largest contributor to the IGA market during the forecast period, 2019 to 2024. The presence of major vendors and fast adoption of innovative solutions are the key driving factors for the growth of the IGA market in the region. The US is expected to hold the largest share while Canada is expected to grow with the highest CAGR from 2022 to 2030.
In terms of market share, Europe is expected to follow North America closely; for the purpose of analysis, the European region has been further segmented into the UK, Germany, France, and the rest of Europe. Increased investments in cybersecurity solutions, particularly related to employees’ identity and access rights, and stringent government regulations are the key driving factors for the market growth in Europe. The UK is leading in the European IGA market while Germany is expected to register the highest growth during the forecast period. In terms of growth rate, France is expected to witness the highest CAGR during the forecast period.
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The market in Asia-Pacific is expected to witness the highest CAGR during the forecast period, 2019–2024. The regional market has been segmented into China, Japan, India, and the rest of Asia-Pacific. The countries in the region, such as China, India, Japan, Singapore, and South Korea, are expected to show fast adoption of IGA solutions in the upcoming years. A growing number of enterprises and increasing awareness of cybersecurity are the key driving factors for the growth of the IGA market in the region.
Growing economies in the Middle East Africa and South America are expected to show significant growth in terms of adoption of IGA solutions as the regions are showing fast adoption of new IT solutions and services. These regions are in the nascent phase and offer huge potential to grow in the upcoming years.
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