Privileged Identity Management Market Synopsis
As per Market Research Future (MRFR) analysis, the global privileged identity management market is expected to grow at approximately USD 6,200 million with a CAGR of 32% from 2017 to 2023 (forecast period). The research report provides a brief summary of the effects of COVID-19 on current/future market situations. The report describes some of the significant market factors that will affect the growth of this sector, such as market share, major region, and key players.
Privileged identity management is described as a sub-space inside identity management. It offers support to the extraordinary necessities of privileged accounts inside the IT division of the organization. It permits government and private substances to keep touchy data from hacking and malware that could harm the organization.
Market Dynamics
Protection from increased cyber-attacks and malware is fuelling the growth of the privileged identity management market. As per the study, identity management solutions represent the largest privileged identity management market share in the privileged identity management market. The market for PIM is being fuelled by the increased acceptance of bring your own device (BYOD) in enterprises and managing the identities associated with a privileged account. BFSI and insurance vertical contribute to the largest market share in the PIM market. The study also indicates that session monitoring and management will play a vital role in the PIM industry.
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Market Segmentation
The global privileged identity management market has been segmented into component, installation type, deployment type, organization size, and vertical.
In view of the part, the worldwide privileged identity management market has been isolated into arrangement and administration. The arrangement section has been additionally isolated into identity management, access management, meeting observing, and management. Administration fragment has been additionally isolated into proficient administrations, execution and mix, counseling, schooling and preparing, backing and support, and oversaw administrations.
Based on the installation type, the global privileged identity management market has been segmented into agent-based and appliance based.
Based on the deployment type, the global privileged identity management market has been segmented into cloud and on-premise. The cloud solution is expected to gain the largest market share by the deployment category.
Based on organization size, the global privileged identity management market has been segmented into small & medium enterprises and large enterprises.
Based on vertical, the global privileged identity management market has been segmented into government & defense, healthcare, manufacturing, energy & utilities, IT & telecommunication, retail, and others.
Regional Analysis
The regional analysis of the global privileged identity management market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
North American district is projected to represent the biggest portion of the privileged identity management market because of higher reception of bring your own gadget (BYOD) innovation and pernicious programming that can without much of a stretch hack delicate data. There is an expanded acknowledgment of innovations, for example, meeting checking and identity management. The Asia Pacific locale is projected to represent the most elevated CAGR in the PIM market because of an improvement in IT foundation and an expansion in digital assaults.Key Players
The prominent players in the privileged identity management market are ARCON (India), 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.), among others.
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