Global Identity Governance and Administration Market Synopsis
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 .
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 .