Publication Month: Apr 2019 | Report Code: TIPTE100000394 | No. of Pages: 170 | Category: Technology, Media and Telecommunications | Status: Published
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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.
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.
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.
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|Market Size Value in||US$ 1496.6 Million in 2018|
|Market Size Value by||US$ 16331.6 Million by 2027|
|Growth rate||CAGR of 30.8 % from 2019-2027|
|No. of Pages||170|
|No. of Tables||83|
|No. of Charts & Figures||74|
|Historical data available||Yes|
|Segments covered||Component , Deployment , and End-user|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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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.