%20Solutions%20Market%20-%202.jpg "Privileged Access Management (PAM) Solutions Market")
Privileged Access Management (PAM) Solutions Market Overview:
The global Privileged Access Management Market is
growing rapidly. According to Market Research Future (MRFR),the privileged
access management (PAM) solutions market industry is estimated to grow from USD
3.20 Billion in 2023 to USD 23.22 Billion by 2032, logging a compound annual
growth rate (CAGR) of 28.10% between 2023 and 2032. Increasing implementations
of the PAM solutions across verticals is a major driving force behind the
market growth.
Besides, the spurring rise in government &
defense, healthcare, manufacturing, energy & utilities, IT &
telecommunication, and retail sectors substantiates the market value. Increased
cyber-attacks and malware and increased adoption of bringing your own device
(BYOD) policies in enterprises bolster the market shares. Additionally,
augmented demand for PAM solutions in eGovernance usages boosts the market
revenues.
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Key Players:
Key Companies in the
privileged access management (PAM) solutions market include,
- CA Technologies
- Wallix
- CyberArk
- Centrify
- ManageEngine
- ARCON
- Hitachi ID Systems
- Beyond Trust
Other key factors impacting the market rise include
the growing digitization, internet usages, and the proliferation of digital
database management systems. Rising security concerns in banking activities are
one of the key growth propellers. On the flip side, the lack of technological
breakthroughs and skilled technicians restricts the market's growth.
Privileged Access Management Solutions Market –
Segmentation
The report has been segmented into offerings,
components, software deployments, enterprise size, end-users, and regions. The
offering segment is sub-segmented into solutions (identity management, access
management, session monitoring & management, others) and services
(professional, maintenance & integration, consulting & training, and
managed services)
The software deployment segment is sub-segmented
into cloud and on-premises. The enterprise size segment is sub-segmented into
small & medium enterprises and large enterprises. The end-user segment is
sub-segmented into healthcare, BFSI, government, energy & utilities,
manufacturing, retail, IT & telecom, and others. The region segment is
sub-segmented into Asia Pacific, North America, Europe, and the
Rest-of-the-World.
Global Privileged Access Management Solutions
Market – Regional Analysis
North America dominates the global privileged
access management solutions market. The higher number of industrial sectors and
commercial units, creating a large amount of data that need higher protection,
is a major driving force behind the regional market growth. Besides, the large
presence of key PAM solutions providers and self-employed individuals &
startups in the region has aided the growth of the privileged access management
solutions market.
Global Privileged Access Management Solutions
Market – Competitive Analysis
Highly competitive, the PAM solutions market
appears to be fragmented due to the presence of numerous well-established
players. Innovation, mergers & acquisitions, and brand reinforcement are
the key trends for these players. The market will witness intensified
competition with an increase in R&D innovations and M&A.
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Industry/ Innovation/ Related News:
Oct. 04, 2021 -- One
Identity, a leading unified identity security provider, announced the
acquisition of OneLogin, a leading provider of Identity Access Management (IAM)
solutions, to expand the scope of its Unified Identity Security Platform.
Combined with its existing PAM, Identity Governance
& Administration (IGA), and Active Directory Management & Security
(ADMS) solutions, the company would now enable customers to take a holistic
approach to identity security with trusted, proven technology in each major
category.
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