Global Identity Governance and Administration Market Synopsis According to MRFR, the global Identity Governance and Administration Market 2020 is expected to expand from USD 3.64 billion in 2019 to USD 9.00 billion by 2024, at a CAGR of 16.8%. Business development can be due to advances to enhance the organization's identity-related processes, which must meet regulatory requirements. IGA is a centralized platform allowing organizations to handle the entire lifecycle of all the personalities of their employees, starting from joining the company until they retire. This is easier for small businesses to handle the identities of their workers but it is a problem for large and medium-sized companies to do it on a large scale. Although the IGA market is observing rapid growth in all parts of the world, its high cost and reduced need for small and medium-sized enterprises ( SMEs) act as restrictive factors for the market. Increasing regulatory compliances is the main driver of the global market for governance and administration of identities. Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7829 In addition, increasing demand from companies to identify their customers, understand their access and audit their activities based on security information has also boosted demand in the global market for governance and administration of identities. Another factor fuelling growth in this sector is globalization and rising data usage. The main factor driving demand in this market is increased implementation of identity governance and administration framework in various vertical industries. Efficient management of sensitive data and the potential to mitigate identity-based threats has also increased demand in the global identity governance and administration market. In addition, substantial rise in cloud-based technologies has also increased demand in this market , leading to costeffectiveness and scalability of cloud-based identity governance and administration solution. Through the Internet of Things ( IoT) phenomenon, bringing in your own devices (BYOD), and accessibility and remote workers are driving these solutions for organizations. In addition, traditional IAM (Identity Access Management) tools have been unable to help organizations meet regulatory compliances which will turn their attention to identity management. All of these factors would build new opportunities in the market for governance and administration of global identity. Market Segmentation The global IGA market has been segmented based on deployment mode, component, organization size, industry vertical, and region. By component, the market has been bifurcated into solution and services. The services segment has been futher divided into professional and managed services. Professional services covered in the study are implementation and integration services, consulting services, and support services. By deployment mode, the market has been divided into cloud and on-premises. By organization size, the market has been bifurcated into SMEs and large enterprises.
Identity Governance and Administration Market 2021 Global Size, Share, Trends by 2027
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