What is Priviliged Access Management (PAM) Solutions Market?
Priviliged Access Management (PAM) assists businesses in providing secure privileged access to key assets and meeting regulatory requirements by managing and monitoring privileged accounts and access. PAM tool has capabilities that help security and risk managers. It locates and manages privileged accounts on systems, devices, and applications. For administrator, service, and application accounts, automatically randomize, manage, and vault passwords and other credentials. Control who has access to sensitive accounts, such as shared and "firecall" accounts. Protect privileged access sessions, commands, and activities by isolating, monitoring, recording, and auditing them.
The market study is being classified, by Application (Healthcare, BFSI, Government, Energy & Utilities, Manufacturing, Retail, IT & Telecom and Others) and major geographies with country level break-up.
IBM (United States), Broadcom (United States), Securden Inc. (United States), Wallix (France), CyberArk (United States), Centrify (United States), ManageEngine (India), ARCON (India), Hitachi ID Systems (Canada), Thycotic (United States) and Devolutions (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are One Identity (United States), Ekran System (United States) and Jumpcloud (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Priviliged Access Management (PAM) Solutions market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Priviliged Access Management (PAM) Solutions market by Type, Application and Region.
On the basis of geography, the market of Priviliged Access Management (PAM) 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The demand for Robotic Process Automation and IoT Devices
- The demand for Adoption Due to Government Regulatory Policies
- The demand for Cyber-Security Technologies
Market Trend
- The rise in Digitalization of Cloud-Based Infrastructure Deployment
Restraints
- High Cost of Implementing Priviliged Access Management (PAM) Solutions
- Lack of Awareness About Novel Technologies Across End-Users in Developing Countries
Opportunities
- Increase Acceptance of Bring Your Own Device (BYOD) by Enterprises and Managing Identities Associated with PAM
Challenges
- Inability to Properly Detect, Prevent, and Monitor can hinder the Priviliged Access Management (PAM) Solutions Market
Market Leaders and some development strategies
On 08 July 2021, Imprivata announces the acquisition of Xton Technologies. The acquisition will help expand Imprivata's digital identity protection deeper into the IT department, with access governance for the company's most privileged users, by combining Xton's easy-to-deploy PAM solutions into Imprivata's existing Identity and Access Management platform. The acquisition comes at a time when healthcare and other businesses are realizing that they can't effectively protect systems, data, PHI, and PII without full insight into each identity and the actions associated with that identity.
On 10 Feb 2021, Securden Inc announce the launch of the Priviliged Access Management (PAM) platform. It provides business IT professionals with comprehensive privileged access security. The Unified PAM platform replaces numerous distinct solutions, allowing companies to protect privileged access to key IT assets end-to-end with a single solution. All high-privileged account passwords, keys, and identities should be securely stored, protected, and managed automatically. Reduce the risks associated with privileged access by centrally controlling, auditing, monitoring, and recording all access to important IT assets.
Key Target Audience
Priviliged Access Management (PAM) Solutions Manufactures, Priviliged Access Management (PAM) Solutions Distributors and Suppliers, Priviliged Access Management (PAM) Solutions International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies, Downstream and Upstream Buyers and Others