According to IMARC Group’s latest report, titled “Privileged Identity Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global privileged identity management (PIM) market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 31.3% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Privileged identity management (PIM) is an information security and governance tool to help organizations prevent data breaches from privileged accounts. It also monitors privileged user sessions, manages credentials of the shared accounts, and secures remote access over devices. PIM enables a secured password management solution to manage administrative operations in a database. It centrally handles and reviews privileged access credentials across platforms, allowing the organizations to monitor in- and out-premise threats. As a result, PIM is extensively used across various industries, including BFSI, defense, healthcare, manufacturing, IT, and telecommunications.
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Market Trends
Rapid developments in the IT industry, along with increasing incidences of cyberattacks and data theft, are propagating the demand for PIM systems. These services are widely used across organizations to minimize access time and enable the teams to install multi-factor authentication systems. Furthermore, the elevating adoption of cloud-based services to maximize operational efficiencies is also propelling the market growth. The development of Software-as-a-Service (SaaS)-based PIM solutions that provide a pay-per-model, automated updates, and immediate access to users further escalates the global market. Moreover, the growing adoption of artificial intelligence (AI)-based PIM solutions and the rising trend of bring-your-own-devices (BYOD) in organizations, are also anticipated to drive the PIM market.
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List of Key Companies Covered in this Market Report:
- Bomgar Corporation (FP)
- BeyondTrust Corporation
- CA Technologies (Broadcom Inc.)
- Centrify Corporation (Thoma Bravo)
- Core Security Technologies (HelpSystems LLC)
- CyberArk Software Ltd. (NASDAQ: CYBR)
- IBM Corporation (NYSE: IBM)
- Iraje Software
- NRI SecureTechnologies Ltd (Nomura Research Institute Ltd.)
- Oracle Corporation
- Osirium Ltd. (LON: OSI)
- Quest Software Inc. (Dell Inc.)
- Thycotic Software LLC
The report has segmented the market on the basis of component type, installation type, deployment mode, organization size, vertical and geography.
Breakup by Component Type:
- Solution
- Identity Management
- Access Management
- Session Monitoring and Management
- Service
- Professional Services
- Managed Services
Breakup by Installation Type:
- Agent-based
- Appliance-based
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium Enterprise
- Large Enterprise
Breakup by Vertical:
- BFSI
- Government and Defense
- Healthcare
- Energy and Utilities
- Telecom and IT
- Retail
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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