What is Privileged Identity Management Market?
Privileged identity management is the monitoring and protection against the accidental or deliberate misuse of superuser accounts in an organization’s IT environments. Oversight is necessary so that the greater access abilities of super control accounts are not misused or abused. The unmanaged superuser accounts can lead to loss or theft of sensitive corporate information or malware that can compromise the network. Privileged accounts may be targeted by external attackers and malicious insiders i.e. rogue employees who have access to the sensitive information of the organization. Privileged identity management creates audits and alerts the user about all potential threats so that the requester, purpose and duration of each privileged access request can be documented and monitored.
The market study is being classified by Type (Appliance-Based, Agent-Based and Appliance-Based, Agent-Based )), by Application (Government and Defense, Healthcare, Manufacturing, Energy and Utilities, IT and Telecommunication, Retail and Other) and major geographies with country level break-up.
ARCON (India), Bomgar Corporation (United States), Balabit (Hungary), BeyondTrust (United States), Centrify (United States), CA Technologies (United States), IBM Corporation (United States), Core Security (United States), Cyberark (United States) and Hitachi-ID (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ManageEngine (United States), Iraje (United States), Lieberman Software (United States), NRI SecureTechnologies (United States) and MICRO FOCUS (United Kingdom).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Privileged Identity Management market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Privileged Identity Management market by Type, Application and Region.
On the basis of geography, the market of Privileged Identity Management 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
- Centralized Administration, Secure Access and Storage of Privileged Shared Account Credentials
- Increasing Threat of Cyber-Attacks and Malware
- Quick Deployment with Little Operational Interruption
Market Trend
- Emergence of Intelligent Based Identity Management Solutions
Restraints
- High Cost of Innovation and Implementation
Opportunities
- Increasing Adoption of BYOD among Enterprises
- Increased Digitization among Organizations
Challenges
- Lack of Awareness about Emerging Security Threats
Market Leaders and some development strategies
On 13th September 2018, Bomgar, a global leader in the Privileged Access Management (PAM) solutions, announced the acquisition of BeyondTrust, a global leader in Privilege-Centric Security. Bomgar secures privileged credentials, remote access sessions, and endpoints, while empowering users to be more efficient and effective.
On 4th March 2019, CyberArk, the global leader in privileged access security announced ground-breaking new capabilities to simplify the continuous discovery and protection of privileged accounts in cloud environments. The CyberArk Privileged Access Security Solution v10.8 is the first-of-its-kind to automate detection, alerting and response for unmanaged and potentially-risky Amazon Web Services (AWS) accounts.
Key Target Audience
Privileged Identity Management Software Developers, Research Professionals, Government Body & Associations and End user