Privileged Identity Management Market is Growing Due to its Rising Demand in IT & Telecommunication Sectors

Privileged Identity Management Market, By Component (Solution, Service), By Installation Type (Agent Based, Appliance Based), By Deployment (Cloud, On-Premise), By Organization Size (Small & Medium Enterprises, Large Enterprises) – Global Forecast 2023

Pune, India - July 22, 2019 /MarketersMedia/ —

Market Highlights

Privileged identity management (PIM) is the process to monitor top-level user accounts in an organization. These top-level users include CIOs, CEOs, and database administrators who have access to the organization's most sensitive information. In such condition where vulnerabilities of numerous systems are exposed which is a major identity management security issue.

Implementation of PIM ensures efficient management of those top-level users, creating a policy that specifies how top-level user accounts should be managed and their access reach. In PIM, these privileged accounts are also regularly audited. This policy-based centralization of user identity management is also known as identity governance.

PIM supports IT security and helps maintain regulatory compliance and thus, allows organizations orchestrate, reviewing the policy with compliance regulations by auditing user access. Resultantly, implementations of the privileged identity management are increasing across growing verticals such as government & defense, healthcare, manufacturing, energy & utilities, it & telecommunication, and retail, among others.

Acknowledging the vast accruals the market is garnering currently, Market Research Future (MRFR) asserts that the global privileged identity management market would reach approximately USD 6,200 MN by 2023, registering a whopping 32% CAGR throughout the assessment period (2017 and 2023).

Factors bolstering the growth of the market include increased cyber-attacks and malware and increased adoption of bringing your own device (BYOD) policies in enterprises. The wide adoption of this technology to ensure security is a key driving force behind the growth of the privileged identity management market. Augmented demand for PIM across government sectors (eGovernance usages) is boosting the market growth.

Factors such as spurting digitization, usage of the internet, and the trend of digital database management systems, fuel the growth of the privileged identity management market. Rising security concerns in banking activities are one of the key growth propellers.

Despite ensuring a broad uptake, privileged identity management still lacks substantial technological breakthroughs which are highly dependent on the skills of technicians. This acts as a major drawback restricting the growth of the market. However, the expected technological advancements in the recent future would give some relief promising a good fortune for the global privileged identity management market.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3233

Segmentation:

For a better understanding, the report has been segmented into seven key dynamics:

By Solution: Identity Management, Access Management, And Session Monitoring & Management, among others.

By Service: Professional Services, Implementation and Integration, Consulting, Education & Training, Support and maintenance, and Managed Services, among others.

By Installation Type: Agent-based and Appliance based

By Deployment Type: Cloud and On-Premise.

By Organization Size: Small & Medium Enterprises and Large enterprises.

By Vertical: Government & Defense, Healthcare, Manufacturing, Energy & Utilities, IT & Telecommunication, and Retail, among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Regional Analysis:

North America would retain its dominance over the global privileged identity management market. Technological advancements, several opportunities in various sectors, and increasing usage by law enforcement agencies drive the regional market.

Moreover, increased adoption of bringing your own device (BYOD) policies and malicious software that can easily hack sensitive information foster the growth of the market. Furthermore, there is increased adoption of solutions such as session monitoring and management and identity management, which, in turn, propel the market growth in the region.

The privileged identity management market in the Asia Pacific region has emerged as a profitable market globally. Owing to increasing IT infrastructure and growing cyber-attacks, the region is forecasted to register the highest CAGR over the review period.

Global Privileged Identity Management Market – Competitive Analysis

Highly competitive, the privileged identity management market appears to be fragmented due to the presence of numerous well-established players. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for these players. The market will witness intensified competition with an increase in R&D innovations and M&A.

Major Players:

Players leading the global privileged identity management market include Balabit (Hungary), ARCON (India), BeyondTrust (US), CA, Inc. (US), Bomgar Corporation (US), Centrify (US), Cyberark (US), Core Security (US), Hitachi-ID (Canada), and IBM Corporation (US), among others.

Industry/ Innovation/ Related News:

June 26, 2019 --- Saviynt Inc. (the US), a leading company enabling enterprises to secure applications, data, and infrastructure in a single platform for cloud and enterprise, launched Cloud PAM to provide Privileged Access Management for cloud workloads and hybrid apps.

The new Cloud PAM is the latest addition to Saviynt’s core IGA platform that also offers Application Access Governance for critical applications and Cloud Security, seamlessly extending the power of intelligent identity to Privileged Access Management.

This unique SaaS offering enables organizations to govern and administer privileged access with integrated security analytics and segregation of duty violation verification, thereby allowing the enterprises to stay compliant.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/privileged-identity-management-market-3233

List of Figures

FIGURE 1 RESEARCH TYPE

FIGURE 2 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY COMPONENT (%)

FIGURE 3 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY INSTALLATION TYPE (%)

FIGURE 4 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY DEPLOYMENT (%)

FIGURE 5 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY ORGANIZATION SIZE (%)

FIGURE 6 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY VERTICAL (%)

FIGURE 7 PRIVILEGED IDENTITY MANAGEMENT MARKET: BY REGION (%)

FIGURE 8 NORTH AMERICA PRIVILEGED IDENTITY MANAGEMENT MARKET, BY COMPONENT (%)

FIGURE 9 NORTH AMERICA PRIVILEGED IDENTITY MANAGEMENT MARKET, BY INSTALLATION TYPE (%)

FIGURE 10 NORTH AMERICA PRIVILEGED IDENTITY MANAGEMENT MARKET, BY DEPLOYMENT (%)

FIGURE 11 NORTH AMERICA PRIVILEGED IDENTITY MANAGEMENT MARKET, BY ORGANIZATION SIZE (%)

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/privileged-identity-management-market-3233

Source URL: https://marketersmedia.com/privileged-identity-management-market-is-growing-due-to-its-rising-demand-in-it-telecommunication-sectors/88899442

Source: MarketersMedia

Release ID: 88899442

Latest News

Threat to US elections not limited to Russia in 2020

Dec 16, 2019

WASHINGTON — Russia interfered in the 2016 election and may try to sway next year's vote as well. But it's not the only nation with an eye on U.S. politics. American officials sounding the alarm about foreign efforts to disrupt the 2020 election include multiple countries in that warning. Concerns abound not only about possible hacking of campaigns, but also about the spread of disinformation on social media and potential efforts to breach voting databases and even alter votes. The anxiety goes beyond the possibility that U.S. adversaries could directly affect election results: The mere hint of foreign meddling could...

China says US has 'weaponized' visas to target exchanges

Dec 16, 2019

BEIJING — China on Wednesday accused the U.S. of having "weaponized" the issuance of visas following the reported inability of a top Chinese space program official to obtain permission to travel to a key conference in Washington. Foreign Ministry spokeswoman Hua Chunying told reporters that the head of the Chinese delegation to the International Astronautical Congress wasn't able to obtain a visa following an Oct. 12 interview, making it difficult for Chinese representatives to attend important events at the meeting. Reports said the vice chairman of the China National Space Administration, Wu Yanhua, had planned to attend the congress. Hua...

Huawei exec: Chinese tech giant wants to be 'transparent'

Dec 16, 2019

WASHINGTON — A top executive of Chinese tech giant Huawei said Friday that the company is prepared to be "open and transparent" as it looks to persuade the U.S. government that it can be trusted and that national security concerns about its technology are unfounded. "The first thing we need to do is we need to demystify this company," Paul Scanlan, chief technology officer of Huawei's carrier business group, said in an interview with The Associated Press. "We are a Chinese company, we are based in China, the majority of the people are ethnically Chinese, so there's nothing to say...

Illegal BASE jumper calls police after cell tower mishap

Dec 16, 2019

MENOMONIE, Wis. — A BASE jumper who jumped illegally from a northwestern Wisconsin cellphone tower ended up calling the police on himself after his parachute became caught on a guy wire, leaving him dangling perilously 50 feet (15 meters) from the ground. Police say the 20-year-old man jumped from the 300-foot (90-meter) Charter Communications tower in Menomonie on Thursday morning. After his rescue at around 9:30 a.m., the man was treated at Mayo Clinic Health System and arrested for criminal trespass. BASE jumping stands for building, antenna, span and earth — the four common objects from which BASE jumpers launch...

China criticizes Apple for app that tracks Hong Kong police

Dec 16, 2019

HONG KONG — Apple became the latest company targeted for Chinese pressure over protests in Hong Kong after the ruling Communist Party's main newspaper criticized the tech giant Wednesday for a smartphone app that allows activists to report police movements. HKmap.live, designed by an outside supplier and available on Apple Inc.'s online store, "facilitates illegal behavior," the People's Daily said in a commentary. "Is Apple guiding Hong Kong thugs?" the newspaper said. Beijing has pressed companies including Hong Kong's Cathay Pacific Airways to take the government's side against the protests, which are in their fourth month. Apple didn't immediately respond...

About Us

Science Tech Today is all about the present with what’s new in the Science and Technology world. “Keep up with today, and don’t be left behind.”

Subscribe Now!