Latest News- Identity Governance And Administration (IGA) Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Identity Governance And Administration (IGA) Market is being driven by Rising organizational focus on complying with regulatory standards

The Identity Governance And Administration (IGA) Market is expected to grow at a CAGR of 14.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5010.6 million. The Identity Governance and Administration (IGA) market is experiencing significant growth due to increasing regulatory mandates and the evolving digital landscape. Compliance with regulations such as the Sarbanes-Oxley Act (SOX) in the US necessitates centralized administration of access management and identity governance, enforcement of segregation of duties (SoD) policies, regular auditing to ensure user rights and permissions are up-to-date across the infrastructure, and automatic logging and tracking tools for generating clear reports for compliance audits. Traditional security measures, such as firewalls, have become insufficient in today's environment, where cloud, social media, and mobile applications are prevalent. Digital identification is now crucial for implementing robust access controls. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud
• End-user
  • BFSI
  • IT and telecom
  • Energy and utilities
  • Government and defense
  • Others
• Source
  • Large enterprises
  • SMEs
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising organizational focus on complying with regulatory standards
• Increase in data theft incidents globally
• Rapid growth in IoT networks

However, the market also witnesses some limitations, which are as follows:

• High expenditure
• Lack of awareness regarding IGA
• Networking and connectivity issues with cloud-based IGA solutions

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Market Scope in Identity Governance And Administration (IGA) Market Research Report

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Research Analysis Overview

The Identity Governance and Administration (IGA) market is experiencing significant growth due to increasing compliance requirements such as SOX, data breaches like Verizon's, and the need for secure management of identities and access in areas like IoT, Payment Card Data Security Standard, Health Insurance Portability, and Access Management. AI and Blockchain technology are key trends, offering advanced analytical tools, risk management, and internal controls. VMware, WeChat, WAN, IT staff, and password management are among the solutions providing IGA functionality. Access certifications, requests, provisioning, and dashboard visualization are essential features. Data security standards and internal controls are crucial in mitigating risks and ensuring security.

Market Research Overview

The Identity Governance and Administration (IGA) market falls under the broader category of IT management software within the global system software market. This market encompasses businesses specializing in Identity and Access Management (IAM) solutions, leveraging advanced technologies such as Artificial Intelligence (AI) and addressing the needs of IoT, VMware, WeChat, and Payment Card industries. The market size is determined by the consolidated revenue generated by organizations providing IGA solutions, including cloud-based offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/