Market Research Future published a research report on “Privileged Identity Management Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Privileged Identity Management Market
Privileged identity management is defined as sub domain within identity management. It offers service to special requirements of privileged accounts within IT department of an enterprise. It enables government and private organization by preventing confidential information from hacking and malware that can damage the network.
Protection from increased cyber-attacks and malware is driving the market of privileged identity management market. According to the study, identity management solution accounts for highest market share in the privileged identity management market. Owing to increased adoption of bring your own device (BYOD) in enterprises and managing the identities associated with privileged account is boosting the market of PIM. By deployment segment, cloud solution is expected to acquire highest market share. The BFSI and insurance vertical is contributing highest market share in PIM market. The study also indicates session monitoring and management to play a major part in the PIM market.
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The segmentation of privileged identity management system is done on the basis of solution which include identity management, session management and monitoring management and access management. By solution segment, identity management enable organization by identifying the individual in the enterprise and regulating their access to resources by coupling user rights and restriction with the established identity. Some of the identity attributes are so powerful that they allow users to operate work online.
The privileged identity management market is expected to grow at approximately USD 6,200 Million by 2023, at 32% of CAGR between 2017 and 2023.
The prominent players in the privileged identity management market are – ARCON (India), Balabit (Hungary), BeyondTrust (U.S.), Bomgar Corporation (U.S.), CA, Inc. (U.S.), Centrify (U.S.), Core Security (U.S.), Cyberark (U.S.), Hitachi-ID (Canada), IBM Corporation (U.S.), among others.
Study Objective of Privileged Identity Management Market
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Privileged Identity Management Market
- To provide insights about factors affecting the market growth
- To analyze the Privileged Identity Management market based on various factors- value chain analysis, porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by solutions, by domain, by end users and sub-segments
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Privileged Identity Management Market
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Privileged identity management market for segment on the basis of component, installation type, deployment, organization size and vertical.
Privileged Identity Management Market by Component:
- Identity management
- Access management
- Session monitoring and management
- Professional Services
- Implementation and Integration
- Education and Training
- Support and maintenance
- Managed Services
Privileged Identity Management Market by Installation Type:
- Appliance based
Privileged Identity Management Market by Deployment Type:
Privileged Identity Management Market by Organization Size:
- Small & Medium Enterprises
- Large enterprises
Privileged Identity Management Market by Vertical:
- Government & Defense
- Energy & Utilities
- IT & Telecommunication
The regional analysis of privileged identity management market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region is expected to account for largest share in privileged identity management market due to increased adoption of bring your own device (BYOD) technology and malicious software that can easily hack sensitive information. There is an increased adoption of solution such as session monitoring and management and identity management. Asia-Pacific region is forecasted to account for highest CAGR in PIM market owing to increasing IT infrastructure and growing cyber-attacks.
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