Global Privileged Access Management Software Market Overview:
PAM solutions (Privileged Access Management) were specially developed for securing, monitoring, and managing privileged access. Privileged Access Management (PAM) solutions can easily associate sensitive credentials in hybrid and cloud environments, saving significant time and effort for security teams. Privileged Access Management (PAM) solutions can help companies mitigate risk by exercising strong control over their key assets. After implementing privileged access management (PAM) solution, companies can easily scan their systems to determine how fewer unprotected and unsecured systems are available. Blockages in key regions (Europe, Asia, and North America) due to the increasing prevalence of coronavirus (COVID-19) have a positive impact on the privileged access management (PAM) market. The increasing demand for government social distancing due to the highly contagious nature of coronavirus (COVID-19) has encouraged companies to use work-from-home (WFH). As a result, companies are focusing more on online activities that are expected to increase the cyber threat. To overcome this threat, companies are focusing on providing privileged access management solutions to secure their online accounts. This, therefore, has a positive impact on the worldwide introduction of PAM (Privileged Access Management).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Advancement of Cloud Infrastructure in Recent Times and Increased Digitization and Adoption of IDaaS
Market Growth Drivers:
The Increasing Cloud Deployment and Growing Concerns about Cloud Security, A Rise in the Number and Frequency of Attacks on Privileged User Accounts and Rise in Spending By Organizations on Security Solutions and Services
Challenges:
Lack of Skilled IT Professionals and Lack of Awareness and Understanding about the Software and Novel Technologies
Restraints:
Data Privacy Concerns and High Cost of Innovation and Implementation
Opportunities:
The Emergence of Intelligence-Based Privileged Identity Management Solutions and The Easy Accessibility of Cloud-Based Solutions Along With Reasonable Pricing
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations.
Some of the key players profiled in the report are AWS (United States), Microsoft (United States), OneLogin (United States), Salesforce (United States), Vmware (United States), Foxpass (United States), CyberArk (United States), BeyondTrust (United States), Oracle Corporation (United States), Centrify (United States), HashiCorp (United States) and JumpCloud (United States). Additionally, following companies can also be profiled that are part of our coverage like Zoho Corporation (India) and Sucuri (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Privileged Access Management Software market by 2028. Considering Market by Components, the sub-segment i.e. Software will boost the Privileged Access Management Software market. Considering Market by Industry Vertical, the sub-segment i.e. Healthcare will boost the Privileged Access Management Software market.
Latest Market Insights:
In July 2021 Microsoft acquired CloudKnox Security to provide unified privileged access and cloud entitlement management. The growth of these service accounts and identities, along with the growth of privileges, privileges, and entitlements, exposes organizations to new attack vectors.
In October 2021, One Identity, a leader in unified identity security, acquired OneLogin, a market-leading provider of identity access management (IAM) solutions, expanding the reach of One Identity's unified identity security platform. Combined with existing Privileged Access Management (PAM), Identity Governance and Administration (IGA), and Active Directory Management and Security (ADMS) solutions, customers can now take a holistic approach to identity security with trusted and proven technology. will do each major category.
What Can be Explored with the Privileged Access Management Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Privileged Access Management Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Privileged Access Management Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Privileged Access Management Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Privileged Access Management Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Privileged Access Management Software, Downstream Vendors, Private Research Institutes, Market Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.