Identity Governance and Administration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

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.

• 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. For instance, IGA solutions that address SOX compliance requirements include centralization administration of access management and identity governance, enforcement of segregation of duties (SoD) policies, regular auditing to verify user rights and permissions across the infrastructure, automatic logging and tracking tools that generate clear reports for compliance audits.
• The rapid rise in cloud services, social and mobile, have made traditional firewall systems increasingly outmoded. Digital identity has become crucial for enforcing access controls. As a result, IGA has become a significant priority for the modern enterprise.
• These solutions that were once viewed as an operational back-office issue, is gaining board-level visibility following several high-level breaches that have occurred due to the failure of organizations to manage and control user access effectively. The prominence of these solutions have been further elevated by an evolving regulatory landscape and trends such as Bring Your Own Device (BYOD) and cloud adoption, while the risks related to access to information and data have also increased.
• 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.

Scope of the Report

Identity Governance and Administration is the centralized composition of access control and identity management practices often instituted to comply with government regulations and industry standards. For an organization, the main agenda for implementing Identity Governance and Administration (IGA) is to make sure that right people are getting the right access for the right reason at the right time. The report gives a detailed analysis of solutions and services offered on different deployment modes in various industries across the globe.

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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.​

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