Privileged Identity Management Market - Forecast(2024 - 2030)

Privileged Identity Management Market Size is forecast to reach $ 8,047.40 Million by 2030, at a CAGR of 4.60% during forecast period 2024-2030. Privileged Identity Management (PIM) is the monitoring and protection of super user accounts in an organizations IT environment.The major drivers responsible for the growth of PIM is rising demand for technical requirements across industries such as payment card industry data security standards and health insurance. The services segment in the Privileged Identity Market generated revenue of 811.4 million in 2023.

 

Privileged Identity Management market is a subset of identity management for monitoring and protection of user accounts in IT environments. PIM refers to safe password management solutions that which controls administration operations in database. PIM solution helps enterprise to control in and out premise threats by centrally handling and reviewing the use of privileged access credentials across various platforms. PIM solutions is widely used by end users to secure audit, management and monitor all the activities associated to privileged accounts. PIM controls the most fundamentals of IT such as deployment and configuration. Due to increasing adoption of Bring Your own device (BYOD) technology in enterprise and the efforts of managing the credentials or identities associated with each super user account, Privileged identity is becoming major point of concern for organizations.

 

The various end users assessed includes Government, Large enterprise and small enterprise. The segmentation by product of Privileged Identity Management market includes Software license and Services. Government measures also affect industries such as health care. Privileged access often controls the most fundamental aspects of IT from deployment and configuration.

• The new trend in Privileged Identity Management is third Platform. The third platform is one of consumerization. Compared to second platform the shift from identity and access perspective is the revolution of a new type of identity.   
• The updation in the entire workforce using their own tablets and smart phones for business purpose accessing applications that are in cloud over untrusted wireless networks and the internet.
• Leading organizations are seeking to take advantage of technology advancements like building new apps that are delivered through new access models. Organizations are using more data than before to make decisions and aggregate public and private data to create new value. They are interacting with a much more diverse supply chain and employing extended workforce.
• PIM solutions is helping enterprise to mitigate the risk in cloud environment and improve their compliance initiatives. PIM is also helping enterprise in reducing insider threats by highlighting the inappropriate behavior of an on-premise privileged user. The incorporation of cloud in PIM solutions will lead to an increase in the adoption of PIM solution among enterprise  

 

The companies referred in the market research report includes Arcon, Balabit Corp, Beyond trust Inc, Bomgar Corporation, CA, Centrify Corporation, Core Security, Cyberark Software Ltd , Iraje, IBMCorporation and more than 10 other companies.

 

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2023-2030.

 

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• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

Key Market Players:

The Top 5 companies in the Privileged Identity Management Market are:

1. ARCON 
2. BeyondTrust
3. CyberArk
4. Core Security
5. Optiv

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