The company believes that introducing the new tools should increase the Total Addressable Market (TAM) from USD 55 billion to USD 80 billion. Also, that the company looks forward to new opportunities for growth in the PAM and IGA markets. The reason being that existing tools are not able to work well around complex cloud environments.

Okta’s statement in a press release – “Traditional privileged access management (PAM) solutions prove to be too brittle to adapt to the constantly changing resource and user types that come with cloud-based DevOps organizations.”

Okta Privileged Access gives in-time and least privilege access controls to safeguard critical infrastructure.

The company already offered Advanced Server Access for an identity-centric approach to privileged access. Along with Okta Privileged Access, Okta will support databases, suppliers, containers, and appliances. Plus, there will be an additional session capture and logging capabilities for auditing and compliance.

Meanwhile, Okta Identity Governance offers self-service identity governance and administration for all users with the means of a single control plane. It affirms that traditional IGA was meant for on-premises applications and infrastructure.

On the contrary, the recently launched product is designed for organizations that have to manage access to a large number of different applications. It also allows users to access applications based on attributes, and access gets suspended when user status changes in HR systems.

The newly launched products by Okta will be available in the first quarter of 2022.

What leaders of Okta have to say

“Identity solves the most complex IT challenges across the enterprise and teams want a unified, integrated platform that governs every user and every resource,” said Diya Jolly, Chief Product Officer, Okta. “We are proud to expand our platform to the IGA market and believe with identity at the core, we can offer the most intelligent and efficient path to securing user access and mitigating risk for all users, applications, and data. Okta Identity Governance cuts across all resources from APIs and applications to servers, analyzes the right level of access to critical resources, and ensures that access stays in line over time. It also brings the right level of automation to reporting and access certification campaigns, freeing our customers of painful data wrangling and expensive consultants.”

She added, “Okta has had tremendous success helping customers secure access to their applications, APIs, and servers. Today, we’re taking that to the next level with Okta Privileged Access. We’ve taken our centralized, identity-centric policy framework to completely shift the traditional shared account and credential model of legacy PAM, enabling just-in-time access through ephemeral credentials. With Okta Privileged Access, enterprises can efficiently achieve Zero Trust security at the deepest levels of the enterprise from databases and containers to fleets of servers.”

Warren McNeel, Senior Vice President of Product and Technology, T-Mobile, said, “T-Mobile is constantly transforming its technology to empower our employees with modern tools to best serve customers and keep up with their dynamic expectations. Okta’s powerful automation is a core part of our IAM strategy and enables us to offer our employees seamless, secure access to critical resources in remote or in-office workplace environments. Both the business and customers benefit when automation is closely united with identity. Okta Identity Governance further streamlines user access across a wide array of devices, applications, and digital processes.”