A full week in Vegas is…a lot. Yet, Identiverse 2024 was a standout event and one of the best trade shows I’ve ever attended. With more than 250 speakers and 3,000+ attendees, we were able to engage in deep discussions about the intersection of identity and security. This year’s theme, which focused on “the power of the identity engine,” inspired conversations that get to the heart of what we focus on here at Zilla Security — how to keep everything secure and compliant in an increasingly complex hybrid cloud world.
Here are my key takeaways:
The Identity Market is Messy
The identity market remains chaotic. The distinction between Identity Providers (IDPs) and the broader category of Identity Security solutions can be blurry. This confusion is mirrored in marketing messages where it’s hard to differentiate what’s actually a small feature versus a complete product without thorough investigation. For companies in the industry to thrive and survive, they need to stand out with a tangible benefits that resonates with today’s buyers.
There is Opportunity for Growth
But vendors who gain traction early and are able to demonstrate clear value, fast, are poised to take the lead. Buyers have shown they are hesitant to commit budget to complex projects where ROI takes several quarters or years, and this has created challenges in the market. As the leaders rise to the top, there will likely be waves in the market over the next few years, including acquisitions.
The Ubiquity and Ambiguity of AI
Artificial Intelligence (AI) was a dominant topic at Identiverse, but like many AI applications today, its practical application in the identity space is unclear. AI certainly has great potential to automate and add stronger security barriers, but buyers currently need to dig deep to understand if a product is truly leveraging AI or if it’s mostly marketing hype.
Agility is Critical for Success
The need for speed and flexibility in deploying and adapting identity solutions cannot be overstated. To be successful, the next generation of identity companies must deliver solutions in sync with the pace of business. Today, cycles happen in months, not years, and solutions need to show value—fast. Technology that requires long, complex implementations and lots of human resources will quickly die.
In addition to speed, the market requires solutions built to address today’s challenges while anticipating tomorrow’s needs. That includes engineering technology that works seamlessly between systems, including on-prem and in the cloud, and accurately navigates the multiplying number of identities—both people and machines. A changing workforce and evolving threats must also factor into this equation.
Looking Ahead
Identiverse 2024 highlighted the dynamic nature of the identity security market and underscored the importance of agility, innovation, and clear value propositions. As we move forward, these factors will be critical in determining which companies thrive and which fall by the wayside.
