The global privileged identity management (PIM) market grew at a CAGR of around 22% during 2014-2019.
Privileged identity management (PIM) refers to information security and governance tool that assists organizations in preventing data breaches via privileged accounts. It is also used for monitoring sessions of privileged users, managing credentials of the shared accounts and securing remote access over devices. It also acts as a safe password management solution that controls administrative operations in a database. It enables the organizations to monitor in- and out-premise threats by centrally handling and reviewing the use of privileged access credentials across platforms. Owing to this, it finds extensive applications across various industries, including banking, financial services and insurance (BFSI), defense, healthcare, manufacturing, information technology (IT) and telecommunications.
Significant growth in the IT industry, along with the increasing instances of cyberattacks and data thefts in organizations, is one of the key factors creating a positive outlook for the market. Furthermore, increasing deployment of cloud-based services to improve operational efficiencies of the organizations is also providing a boost to the market growth. These services enable organizations to minimize access time and support the teams to deploy multi-factor authentication systems. Additionally, various innovations, such as the development of Software-as-a-Service (SaaS)-based PIM solutions that offer pay-per-model, automated updates and instant access to users, are also contributing to the market growth. Other factors, including the widespread adoption of artificial intelligence (AI)-based PIM solutions and the emerging trend of bring-your-own-devices (BYOD) in organizations, are also projected to drive the market further. Looking forward, the analyst expects the global privileged identity management (PIM) market to continue its double-digit growth during the next five years.
Breakup by Component Type: Solution Identity Management Access Management Session Monitoring and Management Service Professional Services Managed Services
Breakup by Installation Type: Agent-based Appliance-based
Breakup by Deployment Mode: Cloud-based On-premises
Breakup by Organization Size: Small and Medium Enterprise Large Enterprise
Breakup by Vertical: BFSI Government and Defense Healthcare Energy and Utilities Telecom and IT Retail Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Bomgar Corporation (FP), BeyondTrust Corporation, CA Technologies (Broadcom Inc.), Centrify Corporation (Thoma Bravo), Core Security Technologies (HelpSystems LLC), CyberArk Software Ltd., IBM Corporation, Iraje Software, NRI SecureTechnologies Ltd (Nomura Research Institute Ltd.), Oracle Corporation, Osirium Ltd., Quest Software Inc. (Dell Inc.), Thycotic Software LLC, etc.
Key Questions Answered in This Report: How has the global privileged identity management (PIM) market performed so far and how will it perform in the coming years? What are the key regional markets? What has been the impact of COVID-19 on the global privileged identity management (PIM) market? What is the breakup of the market based on the component type? What is the breakup of the market based on the installation type? What is the breakup of the market based on the deployment mode? What is the breakup of the market based on the organization size? What is the breakup of the market based on the vertical? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global privileged identity management (PIM) market and who are the key players? What is the degree of competition in the industry?
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