Identity Governance and Administration Market Size
- The Global Identity Governance and Administration Market size was valued at USD 8.1 billion in 2024 and is expected to reach USD 21.3 billion by 2032, at a CAGR of 14.8% during the forecast period
- Continuous improvements in camera systems, sensors, artificial intelligence, and data analytics are making Identity Governance and Administrations (VPS) more accurate, reliable, and cost-effective, driving their adoption across industries.
- Industries are increasingly automating manufacturing and logistics processes to boost efficiency and reduce costs, fueling strong demand for VPS to enable precise machine guidance and quality control.
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Identity Governance and Administration Industry Landscape
Segments
- By Component
- Solution
- Services
- By Organization Size
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
- By Deployment Type
- Cloud
- On-Premises
- By Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Telecom and IT
- Healthcare
- Retail
- Energy and Utilities
- Others
Market Players
- IBM Corporation
- Broadcom
- Micro Focus
- Evidian
- RSA Security LLC
- One Identity LLC
- Saviynt
- IIQ
- Hitachi ID
- SecureAuth Corporation
- iC Consult Group
- PATECCO
The global identity governance and administration market is expected to experience significant growth in the forecast period. This growth can be attributed to the increasing need for identity-based security solutions to protect sensitive data and ensure regulatory compliance across various industries. The market is segmented based on components, organization size, deployment type, and industry verticals.
In terms of components, the market is divided into solutions and services. The solution segment is anticipated to dominate the market due to the rising demand for identity governance and administration solutions to manage user identities and access rights effectively. On the other hand, services are expected to witness substantial growth with the increasing need for professional services to implement and support these solutions.
When considering organization size, both small and medium-sized enterprises (SMEs) and large enterprises are investing in identity governance and administration solutions to enhance their security posture. Large enterprises hold a significant market share due to their higher budgets and complex IT environments requiring robust identity management solutions.
Deployment types in the market include cloud-based and on-premises solutions. Cloud deployment is gaining traction due to its scalability, cost-effectiveness, and ease of implementation. However, on-premises deployment still holds importance in industries with stringent data privacy regulations and security concerns.
Furthermore, the healthcare sector is increasingly embracing identity governance and administration tools to protect patient data privacy and comply with healthcare regulations such as the Health Insurance Portability and Accountability Act (HIPAA). Retailers are leveraging these solutions to secure customer transactions and enhance loyalty programs, while energy and utilities companies are deploying identity management solutions to safeguard critical infrastructure from cyber attacks.
Market players such as Evidian, RSA Security LLC, and IIQ are focusing on product innovations, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market. These companies are developing advanced features like risk-based authentication, privileged access management, and continuous monitoring capabilities to address the evolving security challenges faced by organizations.
Overall, the global identity governance and administration market is set to witness robust growth in the coming years as organizations prioritize securing identities and managing access rights effectively in a dynamic threat landscape. With the increasing adoption of cloud-based solutions, the market is expected to expand further, offering opportunities for vendors to provide comprehensive identity management services tailored to the unique needs of diverse industries and organizational sizes.The global identity governance and administration market is evolving rapidly, driven by the escalating cyber threats faced by organizations across industries. One of the key factors propelling market growth is the heightened focus on regulatory compliance and data security. Companies are increasingly recognizing the importance of implementing robust identity-based security solutions to safeguard sensitive information and ensure adherence to stringent regulations.
In addition to regulatory compliance, the surge in digital transformation initiatives is fueling the demand for advanced identity governance and administration tools. The integration of technologies such as artificial intelligence (AI) and machine learning (ML) is revolutionizing identity management processes by enabling automation, enhanced accuracy, and proactive risk detection. This trend signifies a shift towards more efficient and effective identity governance practices in response to the evolving threat landscape.
The ongoing global shift towards remote and hybrid work models, accelerated by the COVID-19 pandemic, is another significant driver influencing the market dynamics. With employees accessing organizational resources from various locations and devices, ensuring secure and seamless identity and access management has become paramount for businesses. Consequently, organizations are increasingly investing in identity governance and administration solutions to fortify their cybersecurity posture in the face of increased remote connectivity.
Industry verticals such as banking, financial services, insurance (BFSI), telecom, healthcare, retail, and energy are witnessing a rapid adoption of identity governance and administration solutions due to their unique security requirements and regulatory mandates. The BFSI sector, in particular, continues to lead in the adoption of identity management solutions to safeguard critical financial data and comply with stringent regulations. Similarly, healthcare organizations are leveraging these tools to protect patient information and copyright regulatory standards such as HIPAA.
Review the company’s share in the market landscape
https://www.databridgemarketresearch.com/reports/global-identity-governance-and-administration-market/companies
Identity Governance and Administration Market – Analyst-Ready Question Batches
- What’s the overall size of the Identity Governance and Administration Market today?
- What future growth rate is the Identity Governance and Administration Market expected to reach?
- What categories are outlined in the segment overview?
- Who are the driving forces in this Identity Governance and Administration Market industry?
- Which new product lines were launched recently?
- What nation-specific insights are available in the Identity Governance and Administration Market report?
- Which region is a standout performer in terms of growth?
- Which country could dominate the Identity Governance and Administration Market in future?
- What region maintains Identity Governance and Administration Market share supremacy?
- Which country is slated for the most aggressive growth for Identity Governance and Administration Market?
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