Identity Governance and Administration Market Overview:

The global Identity Governance and Administration (IGA) Market is expected to grow at a CAGR of 15.20% from 2023 to 2032, to reach USD 19.65 billion by 2032. The market is being driven by the increasing adoption of cloud-based solutions, the growing need for compliance, and the rising number of cyberattacks.

IGA solutions help organizations to manage their identities and access rights across all IT systems and applications. This helps to protect sensitive data, prevent unauthorized access, and improve compliance with regulations.

Key Players:

Some of the key players in the global IGA market are:

• SailPoint Technologies Holdings, Inc.
• Oracle Corporation
• IBM Corporation
• One Identity LLC
• CA Technologies
• Saviynt Inc.
• Micro Focus
• Hitachi ID Systems, Inc.
• RSA Security LLC
• Omada A/S
• AlertEnterprise
• Core Security
• SAP SE
• Microsoft Corporation
• Atos SE

These companies are developing innovative IGA solutions to meet the growing demand from organizations. They are also investing in research and development to develop new features and capabilities for their IGA solutions.

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Market Segmentation:

The global IGA market is segmented by component, deployment mode, organization size, industry vertical, and region.

• By component, the market is segmented into solutions and services. The solutions segment is expected to be the larger contributor than the services segment, as organizations are increasingly adopting IGA solutions to improve their security posture.
• By deployment mode, the market is segmented into on-premises and cloud-based. The cloud-based deployment mode is expected to grow at a faster rate than the on-premises deployment mode, as organizations are increasingly adopting cloud-based solutions for their IT infrastructure.
• By organization size, the market is segmented into large enterprises and small and medium-sized enterprises (SMEs). Large enterprises are expected to be the larger contributor than SMEs, as they have a larger number of users and IT systems to manage.
• By industry vertical, the market is segmented into banking, financial services, and insurance (BFSI), government and defense, healthcare, retail, manufacturing, telecom and IT, energy and utilities, and others. The BFSI industry is expected to be the largest contributor, as it has a large number of sensitive data and is a target for cyberattacks.
• By region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to be the largest market, followed by Europe and Asia Pacific. The growth of the market in North America is attributed to the increasing adoption of cloud-based solutions and the growing need for compliance. The growth of the market in Asia Pacific is attributed to the rising number of cyberattacks and the increasing adoption of cloud-based solutions.

Key Drivers:

• Increasing adoption of cloud-based solutions

The increasing adoption of cloud-based solutions is one of the key drivers for the IGA market. Cloud-based solutions offer a number of benefits, such as scalability, flexibility, and cost-effectiveness. These benefits are driving organizations to adopt cloud-based IGA solutions.

• Growing need for compliance

The growing need for compliance is another key driver for the IGA market growth. Organizations are increasingly being required to comply with a number of regulations, such as the General Data Protection Regulation (GDPR) and the Sarbanes-Oxley Act (SOX). IGA solutions can help organizations to comply with these regulations by providing a centralized repository for user identities and access rights.

• Rising number of cyberattacks

The rising number of cyberattacks is also driving the growth of the IGA market. Cyberattacks are becoming more sophisticated and are increasingly targeting user identities and access rights. IGA solutions can help organizations to protect themselves from cyberattacks by providing a number of security features, such as user provisioning and password management.

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Conclusion:

The global IGA market is expected to grow at a significant rate during the forecast period. The growth of the market is attributed to a number of factors, such as the increasing adoption of cloud-based solutions, the growing need for compliance, and the rising number of cyberattacks. Organizations are increasingly adopting IGA solutions to improve their security posture and protect their sensitive data. The market is expected to witness significant growth in the coming years.

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