Identity Governance and Administration Market Size

Identity Governance and Administration Market Analysis

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.