Privileged identity management is an application which manages threats by restricting access to vital information within the organization. PIM enables private organization and government to prevent confidential information from various malware and hacking which can be a damage to the network. As Bring Your Own Device (BYOD) is being adopted among enterprises, session monitoring is anticipated to play a major role in the identity management backdrop. Privileged identity management provides an added advantage by reducing data loss inside organizations. The tools of PIM monitors activities such as outages and data breach.
The major driver responsible for the growth of privileged identity management is severe increase in technical requirements across industries such as payment card industry data security standards and health insurance portability and accountability act. Due to the heavy requirements from organizations, PIM vendors are innovating with new additional features to withstand against tough competition from the market.
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Major Key Players:
Bomgar Corporation (U.S.),
CA, Inc. (U.S.),
Core Security (U.S.),
IBM Corporation (U.S.),
ARCON (India), among others.
According to MRFR, The Privileged Identity Management Market is expected to grow at approximately USD 6,200 Million by 2023, at 32% of CAGR between 2017 and 2023.
January, 2018 – One Identity, a key player in IAM solutions for access management, acquired Balabit Corp., which is a leading provider of privileged account analytics and log management solutions. The acquisition helps One Identity to add more advances in their existing PIM solutions.
January, 2018 – KPMG a professional service company, acquired Cyberinc which provides technology and enterprise solutions. Cyberinc will boost KPMGs existing capabilities in consulting services and information security and help in expanding the firm’s ability to provide users with responsive PIM solutions.
January, 2018 – Microsoft Corporation, a market leader in information technology released new features for its existing Privileged Identity Management service. Microsoft is offering PIM services through Azure Active Directory. The recent updates will enhance users by just in time capability that allows access for set period of time and to stop privilege type of attacks.
The regional analysis of privileged identity management market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region is expected to account for largest share in privileged identity management market due to increased adoption of bring your own device (BYOD) technology and malicious software that can easily hack sensitive information. There is an increased adoption of solution such as session monitoring and management and identity management. Asia-Pacific region is forecasted to account for highest CAGR in PIM market owing to increasing IT infrastructure and growing cyber-attacks.
Privileged identity management market for segment on the basis of component, installation type, deployment, organization size and vertical.
Privileged Identity Management Market by Component:
- Identity management
- Access management
- Session monitoring and management
- Professional Services
- Implementation and Integration
- Education and Training
- Support and maintenance
- Managed Services
Privileged Identity Management Market by Installation Type:
- Appliance based
Privileged Identity Management Market by Deployment Type:
Privileged Identity Management Market by Organization Size:
- Small & Medium Enterprises
- Large enterprises
Privileged Identity Management Market by Vertical:
- Government & Defense
- Energy & Utilities
- IT & Telecommunication
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- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Original Equipment Manufacturers