About Privileged Access Management Solutions
Privileged access management or PAM solutions are the security measure solutions that allow the business organization to control and monitor the privileged users. It monitors and analyses the access to key business systems and what is their activities when they are logged in. The solutions are used by the privileged accounts like local admin accounts, privileged user accounts, domain admin accounts, and emergency accounts which provides an administrative level of access to high tier systems. It helps administrators to monitor access to critical business resources and ensures that the high-tier system remains secure.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensify their market share and escalate their profitability. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Privileged Access Management Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ARCON (India), BeyondTrust (United States), Thycotic (United States), CyberArk (United States), Zoho Corporation (ManageEngine) (United States), Wallix (France), Hitachi ID Systems (Canada), Devolutions (Canada), CA Technologies (United States) and Imprivata (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Privileged Access Management Solutions market by Type (Software, Systems, Virtual Appliance and Others), Application (Small-medium Size Enterprises and Large Size Enterprises) and Region.
On the basis of geography, the market of Privileged Access Management Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Privileged Account, the sub-segment i.e. Local Admin Accounts will boost the Privileged Access Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Windows will boost the Privileged Access Management Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration with Identity and Access Management Systems for Privileged Access Management Solutions
Market Growth Drivers:
Growing Number of Privileged Credentials are a Prime Target for External Hackers and Demand for Controlled Access to Prevent it from Attacks and Offering Faster Deployment
Challenges:
Regulatory Compliances Involved in Privileged Access Management Solutions
Restraints:
Risk Associated with Unmanaged Privileged Identities which can be Exploited by both Insiders and External Attackers
Opportunities:
Surging Demand for Various Types of Privileged Access Management Solutions in the Large Size Enterprises in Developing Regions
Market Leaders and their expansionary development strategies
On 13th April 2021, Thycotic and Centrify announced that the companies have completed their previously-announced merger to form a leading cloud identity security vendor. The combined company has now begun integrations and will operate under the temporary name ThycoticCentrify.
On 20th July 2021, Imprivata, the digital identity company for healthcare, announced the acquisition of Xton Technologies, an innovative provider of privileged access management (PAM) solutions. Incorporating Xton’s easy-to-deploy PAM solutions into Imprivata’s existing Identity and Access Management platform extends the company’s digital identity protection deeper into the IT organization by adding access governance for its most privileged users.
Key Target Audience
Privileged Access Management Solutions Developers, Privileged Access Management Solutions Industry Associations, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.