Privileged Identity Management Market to Emerge with 13.2 % of CAGR by 2027

Privileged Identity Management Market to 2027 - Global Analysis and Forecasts by Component (Solution and Services), Deployment (On-premise and Cloud), and End-user (IT & Telecom, Government, BFSI, Healthcare & Pharmaceutical, Manufacturing, and Others)

  • Report Code : TIPTE100000394
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 170
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The privileged identity management market accounted to US$ 1496.6 Mn in 2018 and is expected to grow at a CAGR of 30.8 % during the forecast period 2019 – 2027, to account to US$ 16331.6 Mn by 2027.


North America was the leading geographic privileged identity management market and it is anticipated to be the highest revenue contributor throughout the forecast period. Factors such as penetration of internet users, increasing popularity of mobile services across various sectors such as BFSI and Government, and growing digitization have a profound influence over the penetration of the privileged identity management market during the past few years. The privileged identity management market is mostly driven by factors such as increasing trend of BYOD and increasing spending on security solutions. With the increasing usage of mobile devices and tablets, it has given rise to many identification issues. Employees can access confidential information such as corporate emails, financial database, and other business information using these devices. Businesses are highly focused on investing for security solutions to restrict employees from misusing confidential data through fraudulent activities. Also, increased use of portable devices has made corporate networks more susceptible to hacking. Hence, companies are adopting privileged identity management solutions to secure their network and provide safe access.

Privileged identity management Market Insights

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Privileged Identity Management Market: Strategic Insights

Privileged Identity Management Market

  • CAGR (2018 - 2027)
    30.8 %
  • Market Size 2018
    US$ 1.5 Billion
  • Market Size 2027
    US$ 16.33 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • BeyondTrust Corporation
  • CA Technologies
  • Centrify
  • Cyberark
  • Hitachi Id Systems, Inc.
  • IBM Corporation
  • Micro Focus
  • One Identity LLC.
  • Thycotic.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Solution and Services
Deployment
  • On-premise and Cloud
End-user
  • IT & Telecom
  • Government
  • BFSI
  • Healthcare & Pharmaceutical
  • Manufacturing
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

The growing popularity of BYOD and mobile devices to have a noteworthy impact on the privileged identity management market
With the increasing need for seamless connectivity between the corporate network and the employees, employs use personal devices such as smartphones, laptops, and tablets to access the company’s database and confidential information.  The increasing adoption of bring your own device has led to the increased access and storage of critical information, which has further increased the need for data protection. 

The rising employee mobility has led to the increased use of mobile devices. These devices are not generally secured, and it’s easy for hackers to access to mobile devices and gain unauthorized access to corporate networks, which may lead to fraudulent activities and misuse of corporate and business-critical data. With the increasing threat of data breaches, the businesses are adopting privileged identity management solutions to secure the network and to provide secure access to confidential information. Increasing adoption of BYOD is one of the key factor fuelling the global privileged identity management market and are expected to have a significant impact on the growth of privileged identity management market during the forecast period.

Rising trends in the integration of privileged identity management solutions with other security solutions


With the increasing business need and advancements in security solutions, vendors are integrating other security solutions with privileged identity management solution. The integration with other security solutions such as event manager and identity manager enables better control such as better provisioning and de-provisioning, total access control, and password management.  Vendors are also integrating forensic solutions to enable investigate user behaviors and provide a more granular approach. Factors such as these have driven the major privileged identity management vendors such as BeyondTrust, CA Technologies, and IBM to provide solutions that allow easy integration. For instance, solutions from CA Technologies provide integration capability with CA Security Management Solutions, thus providing benefits such as rapid provisioning and de-provisioning. Therefore, vendors have a huge opportunity by integrating other security solutions to privileged identity management solutions.

Privileged identity management Market - Offering Insights

The privileged identity management services help the organizations to mitigate the risk of insider attacks and enables the organizations to provide access to resources without providing them authority to see or alter the sensitive data. As the IT infrastructure is shifting from on-premise to hybrid the demand for privileged identity management services is increasing across various sectors such as IT &Telecom and BFSI. Several prominent market players such as IBM Corporation and Microsoft are focusing on providing enhanced privileged identity management services and solutions to help organizations in controlling and securing the accounts and reducing the risk insider attacks.  The increasing popularity of cloud-based solutions, changing IT infrastructure, and the emergence of intelligence based privileged identity management solutions are the significant factors that are supporting the growth of privileged identity management services and solutions.

Privileged identity management Market - Deployment Insights

The cloud deployment model, the enterprise data is stored in the third-party cloud provider. This enables the client to reduce the cost of IT infrastructure, and minimize the operational cost of the solution. All the clients on clouds share the same infrastructure pool through security protections, flexible configuration, and accessibility variances. However, clouds are more extensive when compared to on-premise deployment type, due to which enterprise associated with cloud are benefitted with seamless, on-demand scalability.  Cloud service is used for providing high service availability at minimum costs, and several organizations are leveraging cloud service to offers services and storing critical data which is creating a demand for privileged identity management across organizations.  

With the emergence of cloud technologies securing sensitive data has become a big challenge for organizations. There has been an increase in security threats caused by insiders having access to privileged accounts due to inactive shared or poorly secured logins. This factor is creating a demand for enhanced privileged identity management across organizations.

Privileged identity management Market

Strategic partnership with technology companies to help them in intelligence engagement of the customers was observed as the most adopted strategy in global privileged identity management market.

2019: The Company introduced availability of Authentication Services 4.2 for their customers that facilitate in improved security measures across Unix, Linux, and Mac based operating systems.
2019: The Company announced introduction of its Secret Server 10.6 version of its enterprise focused PAM solutions. The new features is expected to further enhance the accountability and agility across dynamic enterprise environment for improved privileged access management.
2019: The company launched its cloud based enhanced privileged access management solution, “Zero Trust Privilege” keeping in mind with the hybrid enterprise requirement. The solution supports privileged access management across multiple virtual private cloud (VPC) and Infrastructure-as-a-Service (IaaS) deployments at the client IT infrastructure.

Privileged Identity Management Market Report Scope

Report Attribute Details
Market size in 2018 US$ 1.5 Billion
Market Size by 2027 US$ 16.33 Billion
Global CAGR (2018 - 2027) 30.8 %
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered By Component
  • Solution and Services
By Deployment
  • On-premise and Cloud
By End-user
  • IT & Telecom
  • Government
  • BFSI
  • Healthcare & Pharmaceutical
  • Manufacturing
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BeyondTrust Corporation
  • CA Technologies
  • Centrify
  • Cyberark
  • Hitachi Id Systems, Inc.
  • IBM Corporation
  • Micro Focus
  • One Identity LLC.
  • Thycotic.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

     

    GLOBAL PRIVILEGED IDENTITY MANAGEMENT MARKET - SEGMENTATION

     

    Global Privileged identity management Market - By Component

    • Solution
    • Services

    Global Privileged identity management Market - By Deployment

    • On-premise
    • Cloud

     

    Global Privileged identity management Market - By End-User

    • IT & Telecom
    • Government
    • BFSI
    • Healthcare & Pharmaceutical
    • Manufacturing
    • Others

    Global privileged identity management market - By Geography

    • North America

      • U.S.
      • Canada
      • Mexico
    • Europe

      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific (APAC)

      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Rest of APAC
    • Middle East & Africa (MEA)

      • UAE
      • Saudi Arabia
      • South Africa
      • Rest of MEA
    • South America (SAM)

      • Brazil
      • Argentina
      • Rest of SAM

    Global Privileged identity management Market – Company Profiles

    • BeyondTrust Corporation
    • CA Technologies
    • Centrify
    • Cyberark
    • Hitachi Id Systems, Inc.
    • IBM Corporation
    • Micro Focus
    • One Identity LLC.
    • Thycotic
    • Zoho (ManageEngine)
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component , Deployment , and End-user

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    1. The List of Companies

    2. BeyondTrust Corporation
    3. CA Technologies
    4. Centrify
    5. Cyberark
    6. Hitachi Id Systems, Inc.
    7. IBM Corporation
    8. Micro Focus
    9. One Identity LLC.
    10. Thycotic.
    11. Zoho (ManageEngine)

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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