The year 2023 has brought significant advancements and insights into the realm of Identity Governance and Administration (IGA), as highlighted in the newly released Gartner Market Guide for Identity Governance and Administration. Crafted to assist security and risk management leaders in their decision-making processes regarding IGA products, this guide sheds light on crucial trends and predictions.
One of the standout revelations from Gartner’s forecast is the remarkable growth projected for the global Identity and Access Management (IAM) market. It is anticipated to surge from its 2021 valuation of US$15.61 billion to a staggering US$31.99 billion by 2027. This exponential growth is primarily attributed to the increasing need for governance over a burgeoning array of Infrastructure as a Service (IaaS) and cloud-based applications, coupled with the rising adoption of diverse workloads.
Furthermore, the report foresees substantial advancements in the analytics functionality of IGA tools by 2026. Organizations fully embracing AI and machine learning (AI/ML)-based IGA analytics are poised to reap significant benefits. These forward-thinking entities are expected to achieve a remarkable 50% reduction in access, administration, and governance costs compared to their peers.
Another notable prediction points to the evolving landscape of IGA providers. By 2026, it is anticipated that 60% of these providers will incorporate capabilities aimed at discovering, automating, and supporting machine identity data. This includes critical tasks like applying ownership, signifying the growing importance of managing machine identities alongside human ones.
As the world of identity governance and administration continues to evolve rapidly, Gartner’s 2023 Market Guide equips leaders with invaluable insights and predictions. It underscores the necessity for organizations to stay abreast of these developments to effectively manage identities, access, and governance in an increasingly complex digital landscape.