Identity Governance and Administration Market to thrive with the increasing cloud applications

Identity Governance and Administration Market Size and Growth Rate:

The Global Identity Governance and Administration Market size was valued at USD XX Million in 2018 and this figure estimated to cross USD 7.7 billion by 2023, and it is growing at a CAGR of XX% during the forecast period 2019-2023, as per the market research analysts at Research Cosmos.

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Identity Governance and Administration Market Overview:

Identity governance and administration market is accelerated to have huge pace over the foremost time span. Identity governance and administration helps management to have secure user authentication and support IT enterprises. They give support for IT organizations by controlling the access and governing multiple systems at a time. They completely take care of the users and ensure the user getting right things without any complications. In recent days, the importance for identity governance and administration is spreading due to rise in complexities. The only task of involved in this management is to protect the information about users on computers.

Identity Governance and Administration Market Growth Drivers and Challenges:

Information such as authorized to access and/or to perform and also descriptive information like user credentials are secured by the administration. Only the management will have the access to change any update. In real time, the identity governance and administration has full powers to pure identity function where creation, management and deletion of identities are entitled. The model of identity can be constructed by a small set of axioms where the name given should be unique.

The growing prevalence of globalization is major factor impacting positive growth of the market. The rise in cyber crime and raised number of fraud cases is propelling the demand of the identity governance and administration market. Adoption of cloud based services for deploying is also included to fuel the growth rate of the market.

However, cost for installation and maintenance of the systems is little high which cannot be affordable by small scale sectors is slightly restraining the growth of the market. Lack of proper knowledge in managing the data securely in effective way due to less training programs is also declining the growth of the market.

The emergence of latest technology in developing various systems in order to protect the information to reduce the frauds is leveraging the growth opportunities for the market. The stringent rules by government is also additionally surging the growth of the market.

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Identity Governance and Administration Market Geographical Segmentation:

Geographically, the market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa. North America is positioned top in leading the highest shares of the market. The increased support from the government and also regular update of software so as to work efficiently are mainly ascribed to bolster the demand of the market in this region. Asia Pacific is accounted to have prominent shares next to North America with the increased awareness over management process and also deployment in cloud based services that have big storage capacity. Europe and Middle East & Africa are settling to have significant growth rate in the near future.

List of prominent companies profiled in the report are:

•            SAP (Germany)

•            Microsoft (US)

•            CA Technologies (United States)

•            Oracle (US)

•            IBM (US)

•            SailPoint (US)

•            Evidian (France)

•            NetIQ (United States)

•            One Identity (United States)

•            RSA Security (United States)

•            Others

Identity Governance and Administration Market size and forecast until 2023.

By Component:

•            Solution

•            Services

By Deployment Type:

•            On-Premises

•            Cloud

By Organization Size:

•            Small Enterprises

•            Medium Enterprises

•            Large Sized Enterprises

By Industry:

•            Government & Defense

•            Telecom

•            IT

•            Electrical and Electronics Industries

By Geographical Segmentation:

•            North America

•            Europe

•            Asia-Pacific

•            Latin America

•            Middle-East & Africa

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