We believe that the market is screaming for consolidation. So why is market consolidation of importance and how will it impact everybody in this audience?
Well, let's see what Gartner has to say. This is a couple of years ago. They started seeing that the markets were coming together. The identity management markets were coming together from a siloed approach to a consolidated approach.
Why do markets consolidate? There's better economies of scale for you, the end users, for you, the customers. There's better integration, easier integration. And I think the best way to tell the future about market consolidation is to look at other markets, maybe a non-identity management market, actually a market that I personally participated in.
So if you'll indulge me for just a moment-- and I'm going to date myself here-- anybody out there know what SFA stands for? So I've really dated myself-- Salesforce Automation. So this is a different set of siloed markets that way back when I participated in. There were dozens of Salesforce automation companies-- Vantive, GoldMine, Aurum, YOUcentric-- I was one of the co-founders.
And right next to that was an adjacency, another market, ripe for consolidation called marketing automation and a lot of these companies-- most of which are gone now. Why? They consolidated. Pardot, Eloqua, Unica. And right next to them was another siloed approach called call center and customer support-- Scopus, Chordiant, Pega, Siebel-- companies all gone. They were titans of the industry, all gone. They all consolidated.
Then there was one company that came up with a thing called customer relationship management that pulled everything all together, because that's what market forces really mandate-- and enterprises, and customers, and the market mandated. Well, these adjacencies, they shouldn't be siloed, they all should be one. And now you wouldn't think to get different solutions and cobble them together. Why would you do that? We already have it all consolidated.
Well, now let's move over to our space. And we have at minimum three, maybe four different silos in our market-- privileged access management, which is adjacent to identity management and governance, which is adjacent to access management, which is also adjacent to active directory management. These are all solution sets that really are screaming for consolidation. That's what Gartner is saying. There are many private equity firms that are rolling up various competitors of ours, attempting to consolidate.
But One Identity-- we are light years ahead of our competitors. We saw this many, many, many years ago. Well, to start with, we were essentially the founders of privileged access management more than 15 years ago.
We've been in identity governance for going on 30 years now. So when you talk about deep domain expertise, I'd be hard-pressed to find a company out there with deeper domain expertise. So we started bringing these different siloed approaches together many years ago.
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We believe that the market is screaming for consolidation, and we also believe we're at the forefront. And there's a phrase about the competitive landscape. So we think that the finest form of flattery is imitation. And many of our competitors that had one of those silos are now introducing, well, a second solution set.
But if we've got 15 years in the privileged access management space and one of our competitors has 15 weeks, we think there's a little bit of an unfair advantage. And I can assure you this is going to be a trend.
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