The identity governance and administration market is expected to record a CAGR of 13.5% forecast period from 2023 to 2033. The global market is estimated to be valued at USD 7,689.6 million in 2023 and is projected to reach USD 27,125.7 million by 2033.
There are a few important factors anticipated to provide attractive opportunities for the growth of the market share, which include
| Attributes | Details |
|---|---|
| Identity Governance and Administration Market Valuation in 2022 | USD 6,753.3 million |
| Estimated Global Market Share in 2023 | USD 7,689.6 million |
| Forecasted Global Market Size by 2033 | USD 27,125.7 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 13.5% CAGR |
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Organizational deployment is required for the identity governance and administration program. The identity governance and administration rollout is problematic due to lockdowns and social distance. In the short term, the identity governance and administration industry is projected to see increased demand for identity governance and administration solutions due to work-from-home practices.
The identity governance and administration industry is being driven by an increase in regulatory compliance. Many businesses are now required to follow specific guidelines.
In any organization, keeping track of an employee's details from the time they join until the time they retire is a must, as a result, the demand for identity governance and administration solutions is anticipated to rise.
The organization's stringent compliance standards are a key driver for identity governance and the administration industry. Due to these factors, the identity governance and administration program has a high adoption rate.
The sales of identity governance and administration sales are predicted to increase as a result of the rising adoption rates. Furthermore, any organization can benefit from identity governance and administration programs' operational efficacy. It is another factor that influences the demand for identity governance and administration solutions. These apps make it very simple to keep track of, maintain, and use data.
Professional identity governance and administration services are also sought by some organizations. In the projected year 2024, both of these market categories are expected to be in high demand. Furthermore, identity governance and administration have several features, such as fraud prevention and security benefits.
Globalization is likely to present identity governance and the administration industry with significant growth prospects. Globalization has an impact on the size and growth of the identity governance and administration market. Identity governance and administration solutions are in high demand for large-scale entropies.
During the predicted period, globalization is likely to boost the identity governance and administration solution acceptance rate. In 2032, the identity governance and administration industry growth rate is anticipated to be at its peak. Globalization is likely to enable the identity governance and administration industry to expand in numerous regions.
Data is being used frequently. The majority of the company works with a large volume of data. The leading corporation has a lot of data on its employees. The market makes it simple to make effective use of these data. The increased usage of data in the workplace is projected to boost the market's growth prospects.
The development of hybrid identity governance and administration solutions is anticipated to expand the company's growth prospects. Cloud and other unique elements are included in the hybrid program.
Principal Consultant
By organization size, the SME segment is projected to dominate the market. Improved operational productivity encourages SMEs to embrace identity governance and administration solutions.
Identity governance and administration solutions enable businesses to improve the customer experience while strengthening security and reducing fraud. As a result, security is critical for any firm, regardless of its size. The SMEs segment is the significantly growing segment in the market, as cloud-based solutions and services help them improve business performance. However, due to the affordability and early adoption of emerging technologies, the large enterprise segment is expected to hold a notable share of the market.
| Category | By Component |
|---|---|
| Top Segment | Solution |
| Market Share in Percentage | 71.2% |
| Category | By Organization Size |
|---|---|
| Top Segment | Large Enterprises |
| Market Share in Percentage | 58.3% |
During the forecast period, the services category is expected to be a significant contributor to market growth.
Solution providers offer identity governance and administration services to help customers utilize and manage their identity governance and administration solutions efficiently. Identity management entails a variety of services that work together to proactively identify issues and offer the best approach for resolving them.
Vendors are constantly adding and offering new services, such as professional and managed services to broaden their customer base as the market is flexible. To provide access governance and control compliance, identity governance and administration services improve and automate identity management procedures.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 33.7% |
| Europe | 22.9% |
North America is predicted to be the key market share contributor by 2033 due to the growing adoption of identity governance and administration solutions and services across companies in the area. This trend is expected to continue during the projection period.
The region has been an early user of modern security systems and techniques, as well as several creative initiatives. Several leading identity governance and administration providers have a direct or indirect presence in this region through system integrators, distributors, and resellers.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 22.7% |
| Germany | 8.1% |
| Japan | 6.2% |
| Australia | 1.9% |
Asia Pacific region is predicted to demonstrate the highest adoption of cloud identity and access management solutions due to several factors such as:
According to a VMware update, cloud adoption is predicted to increase consistently across all end-user industries in India. In addition, cloud-based identity governance and administration solutions are projected to gain traction in the region. Furthermore, many breaches in a variety of end-user sectors across the region are likely to drive up demand for advanced and upgraded identity governance and administration solutions.
| Regions | CAGR (2023 to 2033) |
|---|---|
| The United States of America | 13.3% |
| The United Kingdom | 11.6% |
| China | 14.2% |
| Japan | 12% |
| South Korea | 11.2% |
| India | 17.7% |
Several provinces, such as China, are embracing WeChat personal IDs as an official national electronic individual ID to eliminate duplicate identities and avoid identity theft from government databases,
China is the country with the second high number of identity thefts worldwide. Due to the numerous growth potential in the area, multiple solution providers are extending their identity governance and administration solutions in the region as a substantial expansion policy to achieve maximum market share.
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The market is moderately fragmented, with multiple global and regional competitors. The market, on the other hand, is turning toward the consolidation of small businesses. Several industry companies are using innovations to get a competitive advantage in the market.
Recent Developments in the Identity Governance and Administration Market
The market for identity governance and administration is being pushed by an increase in data breaches and cyberattacks.
The rise in data breaches and cyberattacks, the rising demand for compliance, and the expanding use of cloud computing are the main factors driving sales of identity governance and administration systems.
The market for identity governance and administration is expected to grow at an exponential rate in China.
Software is the substance of choice for identity governance and administration solutions.
In 2023, North America is anticipated to hold 33.7% of the global market for identity governance and administration.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Solution 5.2. Services 5.2.1. Managed Services 5.2.2. Integration and Implementation 5.2.3. Training and Consulting 5.2.4. Support and Maintenance 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 6.1. Large Enterprises 6.2. Small and Medium-sized Enterprises (SMEs) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Type 7.1. On-Premises 7.2. Cloud 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 8.1. BFSI 8.2. Government and Defense 8.3. Telecom and IT 8.4. Healthcare and Life Sciences 8.5. Energy and Utilities 8.6. Retail and Consumer Goods 8.7. Manufacturing 8.8. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Oracle 19.2. IBM 19.3. Sailpoint 19.4. SAP 19.5. CA Technologies 19.6. Broadcom Inc. 19.7. RSA Security 19.8. Micro Focus International 19.9. One Identity LLC 19.10. Ping Identity Corporation 20. Assumptions & Acronyms Used 21. Research Methodology
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Identity Governance and Administration Market
