DUBLIN--(BUSINESS WIRE)--The "Identity Governance and Administration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Identity Governance and Administration Market is estimated to grow at a CAGR of 17.2% during the forecast period (2021-2026).
The IGA solutions offer streamlined provision based on roles designed as per the requirements of the client organization, Continuous monitoring of access and entitlements to stay on top of the changes, full visibility of all-access, and rights to make informed decisions. Governance also includes managing segregation of duties, alerting when conflicting access is noticed/discovered/detected/granted.
Companies Mentioned
- Oracle Corporation
- IBM Corporation
- Sailpoint Technologies Holdings Inc.
- SAP SE
- Broadcom Inc.
- Microsoft Corporation
- Evidian (Bull International SAS)
- Hitachi ID Systems
- ProofID
- Cognizant Corporation
- Okta Inc.
- Dell Technologies Inc.
Key Market Trends
Cloud Migration to drive the Growth of the Market
- Identity governance and administration solutions are primarily used to initiate, capture, record, and manage user identities and their access permissions. With identity thefts and data breaches increasing, there is a rapid rise in the need for IGA solutions. According to Verizon Data Breach Investigations Report, 2019, out of 41,686 security incidents, 2,013 were confirmed data breaches. This global rise in data breaches is due to a considerable increase in data breaches in individual industry verticals.
- As more businesses shift from on-premises software to cloud-based services and work to expand mobile access, identity governance tasks become more complex. Sensitive data flowing between onsite and offsite devices requires strong protections to prevent unauthorized access, and a new approach is needed to address the increasing number of mobile devices connecting to enterprise systems. This is increasing the demand for cloud-based identity governance and administration solutions and services.
- Additionally, the new face of business includes complex information systems in which users log in from both onsite networks and mobile devices, switching back and forth to accommodate changes in locations and schedules. Not all employees spend the entirety of their workdays at the office, and some have no permanent desk space at all. This new work structure necessitates a mobile-friendly solution in which critical business applications are accessible from anywhere using a wide range of devices.
- The rise in digitization across the region, for example, in the BFSI sector; is expected to drive the demand for such solutions over the forecast period.
- The interplay between cloud, mobile and IoT technologies in the modern enterprise creates the need for a more granular approach to Identity and Access Management (IAM) via scalable solutions suitable for a variety of network environments. Hence, the need for security solutions, including security for identity-related crimes, is an essential factor driving the adoption of cloud identity governance and administration solutions.
Asia Pacific is Expected to Hold Major Share
- The Asia Pacific region is expected to show maximum adoption of cloud identity and access management solutions, due to various factors, such as growing adoption of technologies, like cloud technology, digitization, AI, IoT, etc., across various end-user industries in the region.
- According to an update by VMware, there is expected to be a consistent surge in cloud adoption in all the end-user industries in India. This is further expected to drive the adoption of cloud-based identity governance and administration solutions in the region.
- Moreover, several instances of data breaches in varied end-user industries in the region are expected to strengthen further the demand for advanced and enhanced identity governance and administration solutions. For example, some of the provinces, like China, are accepting WeChat personal identities as an official national electronic individual ID, to eradicate duplicate identities and to prevent identity theft from government databases. Globally, China stands as the second nation to have the highest number of identity thefts
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Market Drivers
4.4.1 Rising Need for Workforce Productivity and Enterprise Agility across Time Zones
4.4.2 Growing Focus of Organizations Toward Meeting Regulatory Compliances
4.5 Market Restraints
4.5.1 Managing Identities Across Multiple Operation Environments
4.6 Assessment of COVID-19 impact on the industry
5 MARKET SEGMENTATION
5.1 Component
5.2 Deployment Mode
5.3 Enterprise Size
5.4 End User Vertical
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Latin America
5.5.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/rhborr
