Dublin, Feb. 19, 2021 (GLOBE NEWSWIRE) -- The "Identity Governance and Administration Market - Growth, Trends and Forecasts (2020-2025)" 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 (2020-2025).
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.
The rapidly growing globalization has led to increased complexity in operations. Thus the need for centralized visibility over both on-premises and cloud applications and data files across the organization are significant factors driving the growth of the market.
Moreover, government regulations surrounding identity governance and administration are also driving the growth of the market as the adoption rate is on the rise.
The spread of COVID-19 has brought budget cuts and dwindling resources along with it. Organizations are focused on optimizing their resources to maintain business continuity.
Therefore though the percentage of adoption for identity governance and administration has seen an upward trend, the adoption of the same entirely depends on the requirement and urgency for the deployment of the solution.
In the short run, the market is expected to witness demand due to work from home practices; however, this is expected to come back to normal levels in the post-COVID scenario.
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.
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.
The identity governance and administration market comprise of several global and regional players, a moderately fragmented market space. However, the market is shifting toward the consolidation of various smaller players. Several market players are gaining a competitive advantage in the market through innovations. Some of the major players in the market are IBM Corporation, Microsoft Corporation, and Oracle Corporation, among others.
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
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
5 MARKET SEGMENTATION
5.1 By Component
5.2 By Deployment Mode
5.2.1 On Premise
5.3 By Enterprise Size
5.3.1 Small and Medium Enterprises
5.3.2 Large Enterprises
5.4 By End user Vertical
5.4.1 Banking, Financial Services, and Insurance
5.4.2 IT and Telecom
5.4.3 Energy and Utilities
5.4.4 Government and Public Defense
5.4.6 Other End-user Verticals (Manufacturing, Retail)
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle Corporation
6.1.2 International Business Machines Corporation
6.1.3 Sailpoint Technologies Holdings Inc.
6.1.4 SAP SE
6.1.5 Broadcom Inc.
6.1.6 Microsoft Corporation
6.1.7 Evidian (Bull International SAS)
6.1.8 Hitachi ID Systems
6.1.9 SecureHealth Ltd.
6.1.10 Cognizant Corporation
6.1.11 Okta Inc.
6.1.12 Dell Technologies Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hfvf84
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