ForgeRock And Okta Benefit From COVID-19 Driven Demand Surge In $16B Market


Peter Cohan

With corporate offices closed due to COVID-19, lots more people are accessing corporate systems from home. And that is driving companies to spend more money to make sure that the people seeking access should get it.

The market for such identity management systems is worth $16 billion and has been growing at a 13% annual rate, according to Gartner. Two companies that are winning from the COVID-19 crunch are Okta — whose stock is at a near record high — and ForgeRock, a faster-growing private company that just raised $93.5 million.

Underlying the recent surge in demand for identity management is the...

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