APAC Privileged Access Management (PAM) Solutions Market, Forecast to 2023

APAC Privileged Access Management (PAM) Solutions Market, Forecast to 2023

  • January 2020 •
  • 57 pages •
  • Report ID: 5863960 •
  • Format: PDF
Privileged Access Management (PAM) has been gaining strong traction in the Asia-Pacific (APAC) region due to the growing stringency of regulations governing regulated industries such as banking, financial services, and insurance (BFSI), government, and service providers.PAM plays a key role in cyber security today.

With data privacy and personal data protection regulations increasingly becoming stringent in the APAC region, privacy legislation is growing intensively to ensure the protection of personally identifiable and company critical information.Privileged users/accounts have become the primary targets for cyber criminals, as these users have access to critical infrastructure, shared accounts, services, and confidential data. Therefore, it is crucial for organizations, particularly those in the highly regulated industries, to control and manage these accounts properly to prevent potential data breaches caused by either insider or external threats. PAM is becoming increasingly important, with the growing use of automated tools, services, applications, and machines among organizations to gain access to shared services, networks, infrastructure, and data. There is thus a need for better privileged access management tools that can be used more actively and effectively. PAM solutions are being increasingly integrated with other smart cyber security technologies for enhanced protection capabilities, such as user and entity behavior analytics (UEBA), security information and event management (SIEM), security analytics, intrusion detection and intrusion prevention systems (IDS/IPS), and advanced endpoint detection and response (AEDR). With stringent regulations in place, the APAC PAM solutions market is expected to record a strong compound annual growth rate (CAGR) in the next five years. With innovative solutions being developed by global and regional participants, PAM will eventually emerge as a staple of the cyber security space, offering localized solutions tailored to meet the specific needs of an organization.Market trends are analyzed for the study period ranging from 2017 to 2023, with 2018 as the base year. Privileged access management solutions are the key focus area of this study. The vertical segmentation includes government, BFSI, service provider (SP), manufacturing, government, education, and other sectors (including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, eGaming, eCommerce, and BPO). The horizontal segmentation includes Large Businesses (with more than 500 employees) and Small and Medium Enterprises (with less than 500 employees).Companies mentioned in the competitive landscape of the APAC PAM solutions market are CyberArk, DBAPPSecurity, Venustech, BeyondTrust, QIZHI, Broadcom, QiAnXin, NSFOCUS, Thycotic, AsiaInfo, ARCON, SBR-info, PLDSEC, and others. The countries included in this study are Australia, New Zealand, Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, China, Hong Kong, Taiwan, India, Japan, and South Korea. A section on China is provided separately as it is a dominant market in the APAC region.