According to a new market research report published by Credence Research “ Identity Governance & Administration Market (by Component Type – Solution and Services; by Services Type – Professional Services and Managed Services; by Deployment Type – Cloud and On-premises; by Industrial Vertical – BFSI, Government & Defense, IT & Telecommunications, Energy & Utilities, Manufacturing, Retail, Healthcare and other) Market – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the global identity governance & administration market expected to reach at US$ 13.7 Bn in 2027, expanding at a CAGR of 13.2% from 2019 to 2027.

Market Insights

Identity governance and administration solution refers to management of access rights and digital identity across multiple systems and applications. The overall identity governance & administration market is highly governed by the continually growing instances of identity mismanagement across the world. On an average, business organizations worldwide bear a loss of over US$ 200 Bn annually due to such malfunction. Organizations are transforming their digital operations in order to be competitive in the market.