Privileged Identity Management Market, By Component (Solution, Service), By Installation Type (Agent Based, Appliance Based), By Deployment (Cloud, On-Premise), By Organization Size (Small & Medium Enterprises, Large Enterprises) – Global Forecast 2023
Pune, India – January 10, 2019 —
According to Market Research Future (MRFR) report, the privileged identity management market is estimated to reach approximately USD 6,200 million by 2023. The global will observe phenomenal growth at 32% CAGR during the forecast period (2017-2023). It has been noted that enterprises face serious threats when privileged account users share their privileged identity with another person, which in turn, leads to easy access to critical applications. This situation gives rise to need for advanced user activity monitoring solutions in enterprises, such as privileged identity management system.
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.
January, 2018 – 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.
January, 2018 – 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.
January, 2018 – 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 MANAGEMENTMARKET, BY INSTALLATION TYPE
TABLE 3 PRIVILEGED IDENTITY MANAGEMENTMARKET, BY DEPLOYMENT
TABLE 4 PRIVILEGED IDENTITY MANAGEMENTMARKET, BY ORGANIZATION SIZE
TABLE 5 PRIVILEGED IDENTITY MANAGEMENTMARKET, BY VERTICAL
TABLE 6 PRIVILEGED IDENTITY MANAGEMENT MARKET, BY REGION
TABLE 7 NORTH AMERICA PRIVILEGED IDENTITY MANAGEMENT MARKET, BY COMPONENT
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Name: abhishek Sawant
Organization: Market Research Future
Phone: +1 646 845 9312
This news is published on Reuters.