Privileged Identity Management Market Report Covers Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis
Privileged identity management is defined as sub domain within identity management. It offers service to special requirements of privileged accounts within IT department of an enterprise. It enables government and private organization by preventing confidential information from hacking and malware that can damage the network.
Protection from increased cyber-attacks and malware is driving the market of privileged identity management market. According to the study, identity management solution accounts for highest market share in the privileged identity management market. Owing to increased adoption of bring your own device (BYOD) in enterprises and managing the identities associated with privileged account is boosting the market of PIM. By deployment segment, cloud solution is expected to acquire highest market share. The BFSI and insurance vertical is contributing highest market share in PIM market. The study also indicates session monitoring and management to play a major part in the PIM market.
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Major Key Players:
- Balabit (Hungary),
- BeyondTrust (U.S.),
- Bomgar Corporation (U.S.),
- CA, Inc. (U.S.),
- Centrify (U.S.),
- Core Security (U.S.),
- Cyberark (U.S.),
- Hitachi-ID (Canada),
- IBM Corporation (U.S.),
- ARCON (India), among others.
According to MRFR, The Privileged Identity Management Market is expected to grow at approximately USD 6,200 Million by 2023, at 32% of CAGR between 2017 and 2023.
One Identity, a key player in IAM solutions for access management, acquired Balabit Corp., which is a leading provider of privileged account analytics and log management solutions. The acquisition helps One Identity to add more advances in their existing PIM solutions.
KPMG a professional service company, acquired Cyberinc which provides technology and enterprise solutions. Cyberinc will boost KPMGs existing capabilities in consulting services and information security and help in expanding the firm’s ability to provide users with responsive PIM solutions.
Microsoft Corporation, a market leader in information technology released new features for its existing Privileged Identity Management service. Microsoft is offering PIM services through Azure Active Directory. The recent updates will enhance users by just in time capability that allows access for set period of time and to stop privilege type of attacks.
The regional analysis of privileged identity management market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region is expected to account for largest share in privileged identity management market due to increased adoption of bring your own device (BYOD) technology and malicious software that can easily hack sensitive information. There is an increased adoption of solution such as session monitoring and management and identity management. Asia-Pacific region is forecasted to account for highest CAGR in PIM market owing to increasing IT infrastructure and growing cyber-attacks.
Privileged identity management market for segment on the basis of component, installation type, deployment, organization size and vertical.
Privileged Identity Management Market by Component:
- Identity management
- Access management
- Session monitoring and management
- Professional Services
- Implementation and Integration
- Education and Training
- Support and maintenance
- Managed Services
Privileged Identity Management Market by Installation Type:
- Appliance based
Privileged Identity Management Market by Deployment Type:
Privileged Identity Management Market by Organization Size:
- Small & Medium Enterprises
- Large enterprises
Privileged Identity Management Market by Vertical:
- Government & Defense
- Energy & Utilities
- IT & Telecommunication
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- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Original Equipment Manufacturers
LIST OF TABLES
Table 1 Privileged Identity Management Market, By Component,
Table 2 Privileged Identity Management market, By Installation Type
Table 3 Privileged Identity Management market, By Deployment
Table 4 Privileged Identity Management market, By Organization Size
Table 5 Privileged Identity Management market, By Vertical
Table 6 Privileged Identity Management Market, By Region
Table 7 North America Privileged Identity Management Market, By Component
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Privileged Identity Management Market: By Component (%)
Figure 3 Privileged Identity Management Market: By Installation Type (%)
Figure 4 Privileged Identity Management Market: By Deployment (%)