Privileged Identity Management Market is Estimated to Reach USD 6,200 Million by 2023

“Privileged Identity Management Market”
Privileged Identity Management Market, By Component (Solution, Service), By Installation Type (Agent Based, Appliance Based), By Deployment (Cloud, On-Premise), By Organization Size (Small & Medium Enterprises, Large Enterprises) – Global Forecast 2023

Market Highlights

On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the Privileged Identity Management Market owing to growing IT infrastructure, digitization and higher technology implementation. Digitization in North America region is mainly due to the invention of advanced technology and economies benefitting from it. The implementation of privileged identity management software by government is growing rapidly due to increased cyber-attacks and rising higher usage of mobile commerce. And increased research and development spending by vendors in the region is driving the PIM market. The increasing cyber-attacks and strict compliance regulation is driving the market in the region.

 

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.

 

Privileged Identity Management Market Players:

  • 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.)

 

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Privileged Identity Management Market Segmentation

The privileged identity management market has been segmented on the basis of installation types that includes agent based and appliance based. The appliance based privileged identity management system provides strong identity management service and session recordings. The appliance dashboard service offers significant status information, data store configuration, statistics and mail server configuration.

 

Market Research Analysis:

In privileged identity management market, North America region is growing due to high adoption of session monitoring and management solution. In US region, there is large utilization of privileged identity management system for preventing insider attacks and strict compliance regulation. The deployment service is majorly adopted by users in the region as it is less time consuming. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of privileged identity management market to directly address the security of enterprises privileged accounts. Increased utilization of internet and mobile commerce has led to security thefts, malicious attack on sensitive data. High adoption of PIM solutions to reduce cyber-attacks and identification of issues while handling privileged accounts has led to a higher demand of privileged identity management solutions in the region. Countries such as China and India are slowly developing their IT landscape. However, the presence of large players and SMEs will boost the PIM market in the region.

 

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Intended Audience

Investors and consultants

– System Integrators

– Government Organizations

– Research/Consultancy firms

– Technology solution providers

– IT Solution Providers

– Original Equipment Manufacturers

 

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