Global Identity Governance and Administration Market By Component (Solution, Services), Deployment Type (Cloud, On-Premise), Organization Size (Large Enterprises, SMEs), Industrial Vertical (BFSI, Government & Defense, Energy & Utilities, Telecom & IT, Manufacturing, Healthcare & Life Sciences, Retail & Consumer Goods, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Identity Governance and Administration Market is expected to rise from its initial estimated value of USD 3.63 billion in 2018 to an estimated value of USD 11.94 billion by 2026, registering a CAGR of 16.06% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in demand from various enterprises for controlling the information and auditing the functions their employees have access to.
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Major Market Competitors/Players
Few of the major competitors currently working in the identity governance and administration market are IBM Corporation; Broadcom; Atos SE; Omada A/S; Oracle; Core Security, A HelpSystems Company; AlertEnterprise; One Identity LLC; SailPoint Technologies Holdings, Inc.; SAP SE; Microsoft; RSA Security LLC; Evidian; Saviynt Inc.; Hitachi ID Systems, Inc.; SecureAuth Corporation and Micro Focus.
Global identity governance and administration market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of identity governance and administration market for global, Europe, North America, Asia-Pacific and South America.
Identity governance and administration services are provided so that the organizations can protect their interests and provide filtered access of information to their employees and monitor their functioning. This provides businesses with the tools to manage various virtual identities of their employees and provide them with the individual specific rights to these identities depending on their work and operations.
Key Developments in the Market:
- In October 2018, SailPoint Technologies Holdings, Inc. announced various updates for their SaaS solution (Software as a Solution), termed as “IdentityNow” which will result in higher effectiveness in compliances along with the security issues. The major update including the Dynamic Discovery Engine, which helps in ease of operation for policy creation, along with offering identity associated objectives and faster identification reviews.
- In October 2016, Atos SE announced the launch of its Identity and Access Governance solution through their Bull brand with the market name of “Evidian Identity Governance and Administration”. The product designed for medium and large-sized organizations offers user and rights lifecycle management processes along with risk and governance tools for reduction of operational liabilities and adhering to the various compliances.
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- Presence of strict regulations and compliances and the need for various organizations to comply with these regulations is positively driving the growth of the market
- Benefits associated with the implementation of these technologies which result in higher effectiveness and efficiency in process of identification
- Lack of awareness regarding the technology and their benefits in achieving efficiency of operations is expected to restrain the market growth
- Requirement of large capital funding for the installation and integration of these services along with high cost of maintenance is expected to restrain the growth of the market
- By Component
- Professional Services
- Integration & Implementation Services
- Training & Consulting Services
- Support & Maintenance Services
- Managed Services
- Professional Services
- By Deployment Type
- By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises (SMEs)
- By Industrial Vertical
- Banking, Financial Services & Insurance (BFSI)
- Government & Defense
- Energy & Utilities
- Telecom & IT
- Healthcare & Life Sciences
- Retail & Consumer Goods
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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