How machine identities are key to successful identity management

0

Couldn’t attend Transform 2022? Discover all the summit sessions now in our on-demand library! Look here.


Securing digital identities is a problem for many organizations. In fact, according to the Identity Defined Security Alliance (IDSA), 84% of organizations have experienced an identity-related breach.

Part of the identity management challenge is that the identities that organizations must manage are not just human, but machine-based.

Today, enterprise identity security provider SailPoint Technologies Holdings, Inc., released a new research report covering 300 global cybersecurity leaders and revealing that machine identities account for 43% of all identities in the world. within an average company, followed by customers (31%) and employees (16%).

This underscores that organizations must have a solution to manage digital machine identities in real time if they want to secure their environments against the latest threats.

Event

MetaBeat 2022

MetaBeat will bring together thought leaders to advise on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, California.

register here

The landscape of identity threats

In recent years, the proliferation of identities created by the adoption of new technologies and cloud-based applications has dramatically increased the complexity for security teams. Today, machine identities outweigh human identities by a factor of 45 on average, with the average employee having more than 30 digital identities.

SailPoint research also predicts that this proliferation will continue, estimating that the total number of identities will increase by 14% over the next 3-5 years.

Yet many organizations still have a long way to go before they are ready to tackle the landscape of identity threats.

“Our report shows that 45% of companies are still at the beginning of their identity journey. This means they have the unique opportunity to take advantage of today’s technology to build a [artificial intelligence] AI-based identity security approach from the ground up,” said Matt Mills, president of global field operations, SailPoint.

“As corporate identity needs go beyond human capabilities, this approach has quickly become table stakes. Not only that, but identity security has risen to the top as a business critical to securing today’s enterprise,” Mills said.

In practice, an approach centered on artificial intelligence (AI) and machine learning (ML) is essential to detect digital identities in real time. This seems to be recognized by organizations, with 50% of respondents indicating they have implemented AI/ML models to build their capabilities.

SailPoint’s own cloud-based identity security platform leverages AI and ML to automatically identify user and machine identities in enterprise environments, so security teams can manage and secure them more effectively . This approach increases visibility into user access risks.

The identity management market

SailPoint is part of the global identity and access management market, which researchers predict will grow from a value of $13.4 billion in 2021 to $34.5 billion in 2028.

The provider remains a strong player in the market, saying in August that it had generated annual recurring revenue (ARR) of $429.5 million.

It competes with a number of other key players in the market, including Okta, an identity platform provider that offers a unified IAM solution with lifecycle management to automatically onboard and offboard employees and contractors, and a single sign-on solution that IT teams can use to monitor and manage user access.

Okta recently announced that it raised $383 million in total revenue for the fourth fiscal quarter of 2022.

Another competitor is CyberArk, a vendor that provides an enterprise privileged access management solution to automatically discover and onboard credentials and secrets used by human and machine identities. It also offers automated password rotation and the ability to authenticate user access through a single web portal.

Earlier this year, CyberArk announced a $427 million fundraising.

VentureBeat’s mission is to be a digital public square for technical decision makers to learn about transformative enterprise technology and conduct transactions. Discover our Briefings.

Share.

Comments are closed.