Identity Governance and Administration Market Scope
The market research report on Identity Governance and Administration Market which Size will grow by 16% during the forecast period. It contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. Identity Governance and Administration Industry report highlights an all-inclusive assessment of the revenue generated by the various segments across different regions.
Identity governance and administration (IGA) software can enable organizations to comply to security protocols and prevent unauthorized entry of unknown personnel. It has the ability to provide automated access to digital assets while lowering risks. Market Research Future’s (MRFR) report on the identity governance and administration (IGA) market contains projections of growth on the industry for the forecast period (2020-2027) while taking into consideration the effects of the COVID-19 pandemic.
Dominant Key Players on Identity Governance and Administration Market Covered are:
- SAP (Germany)
- Saviynt Inc. (US)
- Oracle Corporation (US)
- Micro Focus (UK)
- CA Technologies (US)
- One Identity LLC (US)
- IBM Corporation (US)
- Atos SE (France)
- SailPoint Technologies Holdings Inc. (US)
- Microsoft Corporation (US)
- Omada A/S (Denmark)
- Core Security (US)
- RSA Security LLC (US)
- Hitachi ID Systems Inc. (Canada)
- AlertEnterprise (US)
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Identity Management Solutions to Drive Market Demand
HVAC contractors and real estate developers are collaborating to provide modern and luxurious homes with all amenities. Automation of cooling and heating systems to provide convenience and comfort to home owners can drive the market demand for identity governance and administration systems. Bundled products that work in a common connected platform are the latest selling point pursued by developers to drive sales of automation systems. For instance, Samsung Corporation has developed the SmartThings application to control a bevy of products on the platform. It can be used in creating ambience for single family and multi-family environments.
Cybersecurity Solutions to Drive Market Growth
Smart homes can utilize identity governance and administration solutions for controlling heating, electrical, cooling, and light appliances. They can increase comfort and usability while managing the ambience of rooms through a centralized remote. Moreover, it can enhance the security of homes by enabling floodlights and security illuminations at breach points. The COVID-19 pandemic has propelled the demand for smart lights by providing a safe space for work in homes and workstations.
High Costs to Hamper Market Growth
The huge initial costs of installation owing to added costs of installation and equipment can hamper the identity governance and administration market growth. Use of expensive software, light sources, and control systems can deter potential clients. However, dipping prices of LEDs and energy savings of these lights can prove to be fruitful to the market in the coming years.
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Segmentation of Market Covered in the Research
Services to Gain Major Market Share
By component, the market has been segmented into solution and services. The services segment has been further bifurcated into professional and managed services. Professional services covered in the study are consulting services, implementation and integration services, and support services.
Cloud to Capture a Large Market Share
By deployment mode, the market has been segmented into cloud and on-premises.
Regional Analysis
North America to Lead Global Identity Governance and Administration Market
North America is anticipated to dominate the demand share of the identity governance and administration market owing to investments in modernization of infrastructure and technological advances in lighting. Applications of smart lights in automobiles, commercial buildings, and public places coupled with presence of key players can drive regional market growth. Commercial facility owners are increasing embracing identity governance and administration solutions to conserve energy.
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COVID-19 Impact on the Global Identity Governance and Administration Market
The COVID-19 pandemic had helped the identity governance and administration (IGA) market to successfully leverage on shifting designations of employees in the healthcare sector. IGA and its integration can help manage digital identities and provide provisions and reclaim it from workers in need of workstations and applications. Adoption of automated processes by various organizations as well as need to comply with strict authorization guidelines can be lucrative to the IGA market.
The Importance of Report
- To provide a thorough examination of the market structure, as well as predictions for the major segments and sub-segments of the global Identity Governance and Administration market during the forecast period.
- To provide information on the factors that influence market growth.
- To conduct an initial analysis of the global Identity Governance and Administration market utilizing various techniques, including Supplier Evaluation and Porter’s Five Forces Analysis.
- Provide historically and projected revenue for market segments and sub-segments based on regions and key countries.
- To provide country-specific market analysis in terms of current market size and prospects.
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