Market Research Report
Global Privileged identity management Market Research and Forecast, 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||839593|
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|Global Privileged identity management Market Research and Forecast, 2019-2025|
|Published: May 7, 2019||Content info:||
Global Privileged identity management Market Size, Share & Trends Analysis Report by Solution (Identity Management, Access Management, and Session Monitoring and Management), by End-User (Telecom and IT, BFSI, Aerospace and Defense, Healthcare and Others) and Forecast, 2019-2025
Privileged Identity Management (PIM) solutions maintain accounts with higher permission level. PIM ensure the security of the company's critical assets by deploying multilayer authentication. Global PIM market is estimated to grow with a considerable rate during the forecast period. Major functions of PIM solutions include maintaining system architecture of privileged accounts, password management, access management, workflow, auditing, reporting, and various others. Some of the major factors contributing to the growth of global PIM market include growing adoption of cloud-based services in various organizations, the potential risk of cyber hacks to the critical assets, and growing demand to increase operational efficiency. Further, government regulations such as GDPR (the General Data Protection Regulation) in Europe, Data Protection and Privacy Law in the US, and other regulations for private organizations are imposing security rules which as a result augment the adoption of management for privileged accounts. Increasing risk of cyber threats and security concerns regarding BYOD (Bring Your Own Device) to the organizational data is supporting the rate of adoption of PIM solution.
Global PIM market is being hindered by various factors which include high capital investment, and poor understanding of PIM solution. With a poor understanding of PIM solution, the rate of adoption is being challenged due to the requirement for training which generates additional expenses, and deployment of extra manpower, therefore, hampering the global PIM market. however, growing ICT industry and growing integration of intelligence-based PIM solution are estimated to generate the opportunities in the market.
The market is segmented on the basis of the type of solutions, end-user, as well as regional outlook. Global PIM market is analyzed into identity management, access management, and session monitoring and management on the basis of the solution. Among these, identity access segment is estimated to contribute significantly to the global market. Further, the market is analyzed on the basis of end-user into telecom and IT, BFSI, aerospace and defense, healthcare, and others. Telecom and IT segment are calculated to contribute a considerable market share. Further, geographically, the market is analyzed into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific region is growing with substantial rate during the forecast period due to emerging cyber-security measures in the countries such as India, China, Australia, and others.
The market is composed of various market players. Some of the companies contributing substantially to the market include Hitachi ID Systems, Inc., BeyondTrust, IBM Corp., Centrify Corp., CyberArk Software Ltd., Thycotic Software LLC, Oracle Corp., ARCON Techsolutions Pvt. Ltd., Micro Focus International PLC, CA Inc., and others.
The market study of the global privileged identity management market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for ICT companies, research institutes, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.