Identity Governance and Administration Market to Exhibit Major Growth due to Growing Adoption of Cloud-Based Solutions

Market Scope & Overview:

According to SNS Insider, the Identity Governance and Administration Market was estimated at USD 6.24 billion in 2022 and is projected to reach USD 19.68 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.43% during the forecast period from 2023 to 2030.

Identity Governance and Administration (IGA) is a crucial aspect of modern cybersecurity and identity management. It refers to the processes, policies, and technologies that organizations employ to manage and secure the digital identities of their employees, contractors, partners, and customers. The primary goal of IGA is to ensure that the right individuals have appropriate access to the right resources, applications, and data, while also preventing unauthorized access and potential security breaches.

Get a Sample Report of Identity Governance and Administration Market 2023 @ https://www.snsinsider.com/sample-request/2543

Major Key Players Included are:

• SecureAuth
• Oracle
• Omada
• IBM
• AlertEnterprise
• SailPoint
• Hitachi ID
• Microsoft
• NetIQ
• Evidian
• Others

Market Analysis:

One of the primary factors driving the growth of the identity governance and administration market is the increasing adoption of cloud-based solutions. As businesses transition their operations to the cloud, they recognize the importance of securing identities and access to cloud-based applications and resources. Cloud-based IGA solutions offer scalability, flexibility, and cost-effectiveness, allowing organizations of all sizes to implement comprehensive identity management strategies.

Impact of Recession:

Economic recessions undoubtedly have a significant impact on the identity governance and administration market. While the adoption rate may temporarily slow down, the focus on operational efficiency, risk mitigation, and compliance drives the need for advanced IGA solutions. The market may witness consolidation, with larger vendors acquiring smaller players, and an accelerated shift towards cloud-based IGA offerings. As organizations adapt to the challenges posed by recession, IGA solutions remain crucial in maintaining robust security and efficient identity management practices.

Click on the link to enquire more: https://www.snsinsider.com/enquiry/2543

Segmentation Analysis:

In the fiercely competitive realm of identity governance and administration, the Solution Segment and Large Enterprises Segment have emerged as the dominant forces, driving innovation and adoption across the identity governance and administration market. While the Solution Segment empowers organizations with tailored and adaptable IGA solutions, the Large Enterprises Segment leads the way in setting industry standards and best practices. As businesses increasingly recognize the value of robust identity governance, these segments will continue to thrive and shape the future of the IGA market.

Market Segmentation and Sub-Segmentation included are:

On The Basis of Component:
• Solution
• Services

On The Basis of Organization Size:
• Large enterprises
• Small and Medium-sized Enterprises

On The Basis of Deployment Type:
• On-Premises
• Cloud

On The Basis of Vertical:
• BFSI
• Government and Defense
• Telecom and It
• Healthcare and Life Sciences
• Energy and Utilities
• Retail and Consumer Goods
• Manufacturing
• Others

Regional Status & Analysis:

As the digital landscape continues to evolve, identity governance and administration have become indispensable for enterprises seeking to secure their data, ensure regulatory compliance, and build trust with their customers. North America's proactive approach to adopting advanced technologies, coupled with its commitment to stringent data protection regulations, has propelled the region to the forefront of the identity governance and administration market.

Conclusion:

As the digital landscape evolves, identity governance and administration continue to play a crucial role in securing organizations against cyber threats and ensuring regulatory compliance. With the integration of cutting-edge technologies like AI and ML, the market prospects for IGA are promising. The convergence of IGA and PAM, coupled with the growing adoption of cloud-based solutions, will shape the future of identity management, offering enhanced security and efficiency for businesses of all sizes.

Frequently Asked Questions:

Q1) What is the projected outlook for identity governance and administration market growth?
Ans: The market for identity governance and administration is projected to exceed USD 19.68 billion by the year 2030.

Q2) What are the major factors influencing the identity governance and administration market?
Ans: The integration of IGA and PAM functionalities provides a unified approach to managing all access privileges, enhancing overall security posture and streamlining identity-related processes.

Q3) Who are the leading players in the identity governance and administration market?
Ans: SecureAuth, SailPoint, Hitachi ID, Microsoft, NetIQ, Oracle, Omada, IBM, AlertEnterprise, and Evidian.

Get complete report details @ https://www.snsinsider.com/reports/identity-governance-and-administration-market-2543

Table of Contents - Major Key Points:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Identity Governance and Administration Market Segmentation, by Component
9. Identity Governance and Administration Market Segmentation, by Organization Size
10. Identity Governance and Administration Market Segmentation, by Deployment Type
11. Identity Governance and Administration Market Segmentation, by Vertical
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

Buy Single User PDF of Identity Governance and Administration Market Report 2023 @ https://www.snsinsider.com/checkout/2543

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

Office No. 305-B, Arissa Avenue, Fountain Road, Kharadi, Pune, Maharashtra 411014

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

This release was published on openPR.