Identity Governance and Administration Market Size, Share, and Industry Analysis, By Component (Solutions and Services), By Deployment Model (Cloud and On-Premise), By Enterprise Type (Large Enterprises and Small and Medium Enterprises (SMEs), By Vertical (BFSI, IT and Telecom, Government and Defense, Retail, Healthcare, Manufacturing, and Others), and Regional Forecast, 2024-2032

Identity governance and administration, also known as identity security, is at the heart of the IT department, securing and enabling the digital identities of all users' data and applications. This enables organizations to provide automated access to an increasing number of technology resources while managing compliance risks and potential security. Identity governance and management automates labor-intensive processes, such as access authentication, access requests, and password management and provisioning, significantly reducing operational costs.

Government regulations regarding identity management and management drive market growth with an increasing adoption rate. For instance, an IGA solution that meets SOX compliance requirements includes identity management and centralized access, enforcement of segregation of duties policies, regular audits to validate user rights and privileges across the infrastructure, and automatic tracking and logging tools. As a result, IGA has become a major priority for the enterprise.

The industry was under pressure due to the COVID-19 pandemic. Identity and management are both programs. Lockdown and social exclusion created problems in program implementation. During the pandemic, demand for the program decreased. Finding new customers will be a challenge for the market. The pass rate also dropped significantly during this period. However, since COVID-19, market activity resumed rapidly. Identity management and administration programs are expected to be the most adopted in the coming years.

Impact of Generative AI on the Identity Governance and Administration Market

Generative AI is developing identity management, reducing efficiency and errors by automating mundane tasks. However, businesses need to tread carefully and ensure they understand their risks and tolerance for automation. For instance, an Organization may have business processes that require personnel. You can't pass a compliance audit if the user can't fully justify your processes. Security leaders need to understand these types of business constraints when deciding where and how to deploy the use of generative AI. This could be successful in areas such as identity management, where extensive automation is necessary. However, companies carefully consider their risks, find ways to mitigate them, and move forward. The surge in malicious phishing emails underscores the urgency. For instance, According to the latest Phishing Statistics 2024, Phishing is the standard type of cybercrime, with a projected 3.4 billion spam emails sent every day. Cybercriminals use GAI tools to craft targeted and convincing phishing messages that can cause significant financial losses and security breaches.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global Identity Governance and Administration Market


• Consolidated SWOT Analysis of Key Players

Analysis by Deployment

By deployment, the market is segmented into cloud and on-premise.

The cloud segment holds a significant market share as many companies move from on-premises software to cloud-based services and strive to expand mobile access, making identity governance tasks more complex. For instance, according to IT management software company Flexera’s 2024 Cloud report, 58% of respondents are planning to escalate their cloud workloads in 2024. Sensitive data flowing between on-premises and off-premises devices requires strong safeguards to prevent unauthorized access. New approaches are needed to keep up with the growing number of mobile devices connecting to corporate systems. This has increased the demand for cloud-based identity governance and administration solutions and services.

Further, the interaction of cloud and IoT technologies in enterprises requires a more granular approach to identity and access management across scalable solutions suitable for a variety of network environments. Therefore, the need for security solutions that include security against identity-related crimes is a key factor driving the adoption of the cloud.

Regional Analysis

The global identity governance and administration market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

North America has the highest market share as businesses in the region rapidly adopt identity governance solutions and services. The region is an early adopter of these solutions and hosts innovative initiatives for advanced security solutions and practices. Most identity governance and administration solution providers, including major corporations, are present in the region, either directly or indirectly, through system integrators, distributors, and resellers.

Asia Pacific is expected to be the fastest growing market due to various factors, such as digitalization and increasing adoption of technologies such as cloud technologies, AI, and IoT in the region's end-use industries. For instance, according to Red Hat's latest 2024 survey results, cloud is the leading emerging technology in the Asia Pacific, with 85% of company leaders saying their companies have already started adopting cloud.

Additionally, according to VMware, cloud adoption is expected to continue to increase across India's end-use industries. This is expected to drive the adoption of cloud-based identity governance and management solutions in the region.

The distribution of the global identity governance and administration market by region of origin is as follows:

• North America – 33%


• South America – 5%


• Europe – 25%


• Middle East & Africa – 9%


• Asia Pacific – 28%

Key Players Covered

The key players in this market include AWS, Inc., IBM Corporation, Microsoft Corporation, SAP SE, VMware, Inc., Google LLC, Sailpoint Technologies Holdings, Inc., Oracle Corporation, CA Technologies, Saviynt, AlertEnterprise, Omada, and Evidian.

Key Industry Developments

• March 2024: Omada and EVOTEK partnered to provide identity governance for complex identity workflows. The partnership will assist mutual customers in need of solutions that can replace manual processes and improve efficiency by protecting and mitigating identity-based attacks.


• March 2024: Delinea acquired Fastpath, an identity governance and administration (IGA) and identity access rights provider. This acquisition automizes and expands on Delinea's capabilities to improve control, privileged access, and governance, reduce enterprise cybersecurity risk, and ensure compliance.