Privileged Identity Management Market Market Share, Statistics, Size, Share, Regional Analysis by Key Players | Industry Forecast to 2028
Privileged
Identity Management, also abbreviated as PIM is majorly a sub-domain of
identity management with a special focus on the security of the IT
infrastructure. Privileged identity management services are employed to monitor
and safeguard the activities often in a privileged account. Along with
providing security, privileged identity management also works as a governance
tool through which organizations are able to form various regulations while
preventing data breaches. Privileged Identity Management aids in increasing the
efficiency of the overall productivity of an employee, mainly with the
implementation of federated and single sign-in identities.
With the highly dynamic nature of the IT industry, hackers are coming out with
new and different techniques to hack secret information to disrupt businesses.
The increasing dependency of private organizations on web and internet
applications is leading to an unequalled increase in advanced threats and
cyber-attacks. In addition, social networking websites sites coupled with
increase in the adoption of e-commerce has in turn led to the growth of
identity thefts. Thus, rising dependence on different web applications for both
personal and organizational purposes is one of the major factors anticipated to
drive the demand for the privileged identity management solutions. Moreover,
increasing usage of mobile devices is another key factor driving the growth of
the global privileged identity management market. However, high initial costs
as well as lack of professionals might hamper the market growth over the
forecast period.
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The global privileged
identity market can be segmented on the basis of
component, deployment mode, organization size, installation type, vertical and
geography. Based on component, the global market can be divided into solution
and service. Based on installation type, the global privileged identity market
can be segmented into appliance based and agent based. Based on deployment
mode, the global market can be segmented into on premises and cloud. Based on
organization size, the global privileged identity market can be segmented into
small and medium enterprises and large enterprises. Based on vertical, the
global market can be segmented into banking, financial services, and insurance
(BFSI), government and defence, healthcare, manufacturing, energy and
utilities, telecom and it, retail, others.
The robust and brawny demand majorly in the developing regions across the globe
especially Asia Pacific and Latin America regions is anticipated to bolster the
overall growth of the global market. In addition to this, India and China are
further anticipated to stagger for the largest market share and are anticipated
to maintain their lead in the total demand over the forecast period. Key players operating in the global market
are focusing on key market strategies including mergers, partnerships,
collaborations and acquisitions to maintain a strong hold on the ever
competitive market. Some of the key players in the global market include ARCON,
BeyondTrust, Hitachi-ID, Bomgar Corporation, Centrify, Core Security, Simeio
Solutions, Cyberark, IBM Corporation, Iraje, Lieberman Software, Silverlake
Mastersam, MANAGEENGINE, MICROFOCUS, NRI SecureTechnologies, Balabit,
ObserveIT, Onion ID, Oracle Corporation, Osirium, CA, Inc., Quest Software,
Thycotic, Wallix and Wheel Systems among others.
The global privileged identity market can be segmented
By Component:
• Solution
• Service
By Installation:
• Appliance based
• Agent based
By Deployment Mode:
• On premises
• Cloud
By Organization Size:
• Small
• Medium enterprises
• Large enterprises
By Vertical:
• Banking
• Financial services and insurance (BFSI)
• Government and defence
• Healthcare
• Manufacturing
• Energy and utilities
• Telecom and it
• Retail
• Others
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