Privileged Identity Management Market 2019
Privileged identity management ( PIM) assists in effective monitoring and protection of an organization’s superuser accounts. These accounts belong to system administrators and database administrators such as CEOs and CIOs. In corporate office, the need for superuser account is high for streamlining platform management functions. Superuser accounts are managed by multiple users. As these accounts hold confidential and highly sensitive information of a company, the risk of data breach is high. These factors trigger the need for effective management and security. Large number of companies are adopting privileged identity management solutions to safeguard their companies data. Insider threat is noted to increase as BYOD culture trends. Hence, these factors are expected to spur the growth of the global privileged identity management market. As a result of rapid industrialization, the emergence of startups is noted. Entrepreneurs of these startups are heavily deploying privileged identity management solutions to prevent data leakage. The increase in the adoption of PIM in both existing and startup companies is expected to cast a positive influence on its worldwide market expansion.
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On the downside, the expansion of the market can be hindered by several factors. One of the major factor that can limit the expansion of market is the inconvenience caused to end-users due to continuous interference of privileged identity management in regular tasks.
The worldwide privileged identity management market has been analyzed by segmental study. The market has been segmented by end-user. Large enterprise, Small and Medium Enterprises (SMEs), and Government organizations are segments of the market. The increase in number of SMEs adopting PIM can scale up its market in the coming years. Government organizations require tight data security. Hence, the government sector is noted to play a major role in the market’s economy.
Detailed Regional Analysis
Regional analysis of a market details its areas specified growth. This, aids in understanding the demographic challenges and limitations that market can encounter. Thus, assist in devising effective business development strategies.
By region, the privileged identity management market has been examined for specific regions. Asia Pacific, Europe, the Middle East Asia and Africa, and North America are those regions. North America, followed by Europe, is expected to show a profound growth due to their advanced-tech space. In the Asia Pacific region, there are several factors that are anticipated to favor market. Fast-paced expansion of industries, growing concerns regarding jet enterprise assets security, and high rate of adoption of PIM across different verticals are expected to benefit the market, expanding. Hence, in the coming years, the APAC market to experience robust growth.
Market Key Players
CA, Centrify, CyberArk Software, IBM, and BeyondTrust are some of the prominent companies that are functioning in the global marketers that are dealing in privileged identity management market. Rise in the number of companies deploying PIM is intensify competition among key players to deliver the best quality. This, in turn, is likely to contribute in raising high profit for the global market.
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