The Identity Governance and Administration Market Size will grow USD 14.7 billion at a CAGR of 15.20% during the forecast period. A single software called identity governance & administration enables firms to manage the complete identity lifecycle of all of their employees, from the time they join the company until the time they retire. The management of employee identities is easier for small- and medium-sized businesses, but it becomes more difficult for them to do so on a big scale. Identity administration and governance are the two key components of an identity governance & administration system. Connectors, access request workflow management, password management, automated provisioning, & application entitlement management make up the core competencies of identity administration. The demand to improve the operational effectiveness of identity procedures along with organizations' demands to comply with compliance requirements, globalization, and growing data usage are some of the factors further fueling the market growth in the assessment period. Organizations are paying more attention to meeting administrative compliances. The Global Identity Governance and Administration Market value will reach 9 billion in 2023. The covid 19 has affected the sales and supply chain of several global markets. The identity governance and administration market is facing pressures due to covid 19. The identity and administration is a program. It requires deployment into organisations. Due to the lockdowns and social distancing, the deployment of the program is difficult. The demand for the program is declining during the pandemic. Also, the slowdown of production is decreasing the overall market growth. There is a challenge for the market to find new clients. The adoption rate is also facing a significant decline during this period. However, post covid 19, the market operation will resume quickly. There is expected to be the highest adoption rate of the identity governance and administration program in the upcoming years. The rise in regulatory compliance is the major driver for the market. Today, most organisations have to comply with certain standards. The requirement to track the employee’s information from joining to retirement is essential in any organisation. The strict compliance requirements of the organisation are a crucial driver for the market. Due to this, the adoption rate of the identity governance and administration program is massive. Also, the adoption rate is expected to raiseIdentity Governance and Administration Market Sales. Further, the identity governance and administration program provide operational effectiveness to any organisation. It is another factor that drives the demand for the market. The ease of keeping a record, maintaining and using data is high through these programs. The effectiveness of an organisation increases through the use of identity governance and administration program. There are both solutions service segments in the market. Some of the organisations deploy the programs. Also, some organisations seek professional identity governance and administration service. Both these segments of the market provide exceptional demand in the forecast year 2024. Moreover, there are plenty of features of the program such as fraud prevention and security advantages. Globalization is expected to provide high growth opportunities for the market. Globalization affects the organisation growth and size. The large scale entropies have a high need for identity governance and administration solution. Globalization will increase the adoption rate of the solution in the forecast period. The growth rate of the market will reach maximum in 2024. In many regions globalization, will enables Identity Governance and Administration Industry expansion. Further, there is a growing utilization of data. Most of the organisation deals with a massive amount of data. The large scale enterprise has much information about the staff. Effectively using these data is easy with the identity governance and administration market. The growing use of data in the organisation will increase the growth opportunities for the identity government and administration market. Further, there launch of hybrid identity governance and administration solutions will increase growth opportunities. The hybrid program contains cloud and other exceptional features. This enhanced version of the program will track more customers. In the forecast year 2024, there are promisingIdentity Governance and Administration Market Growthopportunities. Identity governance and administration solutions are expensive. The high expenditure of this solution is a restraint to the market. Most organizations try to cut down unnecessary costs. However, the deployment of this technology adds more cost. Due to the high cost, the technology is less suitable for small scale organisations. Also, there is a lack of awareness about identity governance and the administration market. The lack of awareness can affect the demand for the market in the forecast period. The adoption rate will also decrease due to these factors. These factors will hamper the overall growth rate of the market. There is a low demand for the identity governance and administration program in small and medium enterprises. There will inconsistencies in the market due to the less demand from small organisations. The medium and small organization has high expenses. Also, this technology is not affordable by most small organisations. It will hinder the overall growth opportunity of the market. The demand for identity governance and administration program is vast. Also, the varied demand can be a challenge for the market. The program requires versatility to fulfil the demand. These challenges can affect the demand rate during the forecast period. Cumulative Growth Analysis: The Identity Governance and Administration Market Trendsremain positive during the forecast period. Few drivers of the market will constantly increase the demand. The organization compliance standards and operational effectiveness will surge the demand for the market. Both services and solution segments of the market will lead to more revenue. However, there is a serious need to fix the high cost of the technology. The high expenditure of the program can affect the demand during the forecast period. The lack of awareness is another challenge that can hamper growth opportunities. However, the overall growth of the market remains stable during the forecast period. Value Chain Analysis: The government in this region encourages end-users to deploy the program. The need to increase operational effectiveness will drive demand in this region. Also, the key players in this region are focusing on the invitation. The launch of a hybrid program will increase growth exponentially. Further, strengthen the portfolio is a part of the market development. The US will be the largest contributor for the highest revenue rate for the market. Professional service Managed services Support and maintenance Integration Training and consulting Small cal enterprise Medium size organisation Large scale enterprise On-premise Cloud Manufacturing Government and defence Retail Consumer goods Health care It Telecom Energy Education Transportation By Geography: Asia pacific Europe North America Middle East Latin America Competitive Landscape: Identity Governance and Administration Market Regional Analysis: The key players of the identity governance and administration market are SecureAuth Oracle Omada IBM AlertEnterprise SailPoint Hitachi ID Microsoft NetIQ Evidian Recent Developments November 2022- ForgeRock presents its brand-new ForgeRock Identity Governance solution, an all-inclusive cloud-native governance solution created to assist major companies in addressing security and compliance issues at scale. Enterprises can manage, safeguard, and govern identities throughout their full lifespan from a single platform thanks to ForgeRock Identity Governance's integration with the company's Identity & Access Management platform. It is based on Google Cloud and employs AI & machine learning to assist enterprises in deciding whether or not to grant employees access to applications and data. IT departments may take rapid action on security decisions by utilizing ForgeRock's complete platform. Without the requirement to integrate additional goods or solutions, excessive access may be immediately deleted and permitted access can be automatically granted and used. Enterprises can fully comprehend all of their identity provisioning, administrative, compliance, and employee access control needs with the help of ForgeRock Identity Governance. Companies may establish a Zero Trust security environment, enforce least privilege access, & adhere to governance principles more successfully. The strategy used by ForgeRock results in the most attractive offering in the sector. It combines three key elements: Access Certifications, which uses AI-generated recommendations to speed up manager access decisions; Access Requests, which automates application access and offers users a round-the-clock self-service portal; and Segregation of Duties, which ensures regulatory compliance when & where you require it. Report Overview Market overview highlights Analysis based upon COVID 19 Explanation upon the Market Dynamics Value chain analysis Market segmentation overview The regional analysis Competitive landscape analysis Recent DevelopmentsIdentity Governance and Administration Market Overview
Identity Governance and Administration Market Covid Analysis
Market Dynamics:Crucial Market Drivers
The Market Growth Opportunities
The Market Restraints
The Market Challenges
North America is accepted to hold the maximum Identity Governance and Administration Market Share. The adoption rate of the identity governance and administration program is rapid in this region. Both the services and solution segment of the market is facing massive demand. The adoption rate will further increase due to governmental support.
Identity Governance and Administration Market
Segment Overview:
By Component:
Solution:
Services
By Organization Type
By Deployment Type
By end-user
The competition in the identity governance and administration market is increasing in the forecast period. Market expansion, acquisitions and partnerships are the developments. Also, the launch of hybrid entity governance and admonition is a key strategy in the competitive landscape. The launch of new services and the cloud-based program will be advantageous to the market.
The identity governance and administration market is diversified into Asia Pacific, Europe, and North America. These key players will dominate the global Identity Governance and Administration Business. North America will lead the market with the highest demand and revenue rate.The need for effective technologies to manage is driving the demand. Also, there areIdentity Governance and Administration Market Top Leadersin this region. All this contribute to the highest growth rate in this region. The Asia Pacific will witness the fastest growth rate of the market. The adoption rate is increasing in the forecast period. Also, Europe will have high demand due to strict compliance standards. All these regions will experience the highest demand and profitability in 2024.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 14.7 billion |
| CAGR | CAGR 15.20% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component |
| Geographies Covered | North America, Europe, Asia-Pacific |
| Key Vendors | SecureAuthOracleOmadaIBMAlertEnterpriseSailPointHitachi IDMicrosoftNetIQEvidian |
| Key Market Opportunities | increase the adoption rate of the solution in the forecast period |
| Key Market Drivers | The rise in regulatory compliance is the major driver for the market. |
Frequently Asked Questions (FAQ) :
What is the projected market value of the global identity governance and administration market?
The global identity governance and administration market is expected to record a substantial market valuation of up to USD 14.7 billion by 2030.
What is the estimated growth rate of the global identity governance and administration market?
The global identity governance and administration market is projected to register a moderate 15.20% CAGR in the forecast period.
What is the component segment of the global identity governance and administration market expected to witness the highest growth?
The services segment is slated to expand as the fastest-growing segment.
What is the industry segment of the global identity governance and administration market expected to witness the highest growth?
The BFSI management segment is slated to expand as the fastest-growing segment.
Who are the key players operative in the global identity governance and administration market?
A few major market players operating in the global identity governance and administration market are Core Security (US), SAP (Germany), Microsoft Corporation (US), and Atos SE (France), among others.
Key Questions Answered
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FAQs
How big is the digital identity market in 2030? ›
b. The global digital identity solutions market is expected to grow at a compound annual growth rate of 17.2% from 2023 to 2030 to reach USD 98,638.6 million by 2030.
How big is the identity access and governance market? ›The global identity and access management market size was valued at USD 15.93 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030.
Who are the players in identity governance and administration? ›Key companies in the Global Market for Identity Governance and Administration include Alertenterprise, CA Technologies, Evidian, Hitachi ID, IBM, Microsoft, Netiq, Omada, One Identity and Oracle.
How big is the identity orchestration market? ›Market Overview
The global identity and access management market was valued at USD 12.85 billion in 2022 and is projected to reach USD 36.96 billion by 2030 at a CAGR of 14.12% from 2022 to 2030.
The global Digital Identity Solutions Market size is projected to grow from USD 34.5 billion in 2023 to USD 83.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period, according to a new report by MarketsandMarkets™.
What is the future of digital marketing in 2030? ›With these advances combined, online marketing in 2030 is sure to become increasingly interactive and engaging for customers around the world. Transitioning into a better understanding of customers' needs through enhanced customer insights will build upon these achievements further.
What is the difference between identity governance and identity administration? ›Identity Governance is about visibility, segregation of duties, role management, attestation, analytics and reporting, while Identity Administration is related to account administration, credentials administration, user and device provisioning and managing entitlements.
How big is the ECM market? ›Enterprise Content Management Market Analysis
The Enterprise Content Management (ECM) Market was valued at USD 67.59 billion in the current year. It is expected to reach USD 131.2 billion by the next five years, growing at a CAGR of 14.18% during the forecast period.
Identity and Access Management (IAM) Market size exceeded USD 12 billion in 2022 and is expected to grow at 13% CAGR till 2032. This industry growth can be attributed to the exponential increase in the adoption of cloud computing services across multiple industries including BFSI, retail, and healthcare.
Who is the overall leader in the identity governance and administration IGA market? ›BEDFORD, MA—December 8, 2022—RSA, the security-first identity company, announced today that KuppingerCole Analysts AG recently recognized the company as an overall leader in its Leadership Compass report on identity governance and administration (IGA).
What are the capabilities of identity administration? ›
Identity governance and administration tools help simplify and streamline user identity lifecycle management through capabilities such as password management, integrations, automation, access request management, detailed event logging, provisioning and deprovisioning, and entitlement management.
What are the tasks of identity governance? ›ID Governance gives organizations the ability to do the following tasks across employees, business partners and vendors, and across services and applications both on-premises and in clouds: Govern the identity lifecycle. Govern access lifecycle. Secure privileged access for administration.
How big is the IDaaS market? ›MarketsandMarkets forecasts the global IDaaS market size is estimated to be USD 5.6 billion in 2022 and projected to reach USD 16.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 24.7% from 2022 to 2027.
Why is IAM growing? ›With the sudden shift to remote work and increased reliance on digital infrastructure, the threat landscape has expanded, leading to a surge in cyberattacks. As a result, the demand for IAM services has increased as businesses seek to enhance their security posture and protect their sensitive data.
Who are IDaaS market leaders? ›Ping Identity Corporation, OneLogin Inc., Atos SE, Microsoft Corporation, Oracle Corporation, Salesforce Inc., and Google LLC are the top players in the market.
What is the forecast for digital identity? ›[344 Pages Report] The global digital identity solution market size is projected to grow from USD 34.5 billion in 2023 to USD 83.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period.
What is the size of the digital transformation market 2023? ›The global digital transformation market size was estimated at USD 731.13 billion in 2022 and is expected to reach USD 880.28 billion in 2023.
What are the digital identity trends in 2023? ›In 2023, we expect to see several key trends emerge in this space, including the continued evolution of KYC (Know Your Customer) regulations, the proliferation of digital ID wallets, mass adoption of Facial Liveness Detection, and the ongoing battle against fraud and fake identities.
How much will the global digital health market growth by 2027? ›Revenue in the Digital Health market is projected to reach US$170.20bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 10.78%, resulting in a projected market volume of US$256.30bn by 2027. The average revenue per user (ARPU) is expected to amount to US$47.71.