The global privileged identity management (PIM) market size reached US$ 5.6 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 47.3 Billion by 2032, exhibiting a growth rate (CAGR) of 26.75% during 2023-2032.
Privileged identity management (PIM) refers to information security and governance tool that assists organizations in preventing data breaches via privileged accounts. It is also used for monitoring sessions of privileged users, managing credentials of the shared accounts and securing remote access over devices. It also acts as a safe password management solution that controls administrative operations in a database.
It enables the organizations to monitor in- and out-premise threats by centrally handling and reviewing the use of privileged access credentials across platforms. Owing to this, it finds extensive applications across various industries, including banking, financial services and insurance (BFSI), defense, healthcare, manufacturing, information technology (IT) and telecommunications.
Significant growth in the IT industry, along with the increasing instances of cyberattacks and data thefts in organizations, is one of the key factors creating a positive outlook for the market. Furthermore, increasing deployment of cloud-based services to improve operational efficiencies of the organizations is also providing a boost to the market growth. These services enable organizations to minimize access time and support the teams to deploy multi-factor authentication systems.
Additionally, various innovations, such as the development of Software-as-a-Service (SaaS)-based PIM solutions that offer pay-per-model, automated updates and instant access to users, are also contributing to the market growth. Other factors, including the widespread adoption of artificial intelligence (AI)-based PIM solutions and the emerging trend of bring-your-own-devices (BYOD) in organizations, are also projected to drive the market further.
Privileged identity management (PIM) refers to information security and governance tool that assists organizations in preventing data breaches via privileged accounts. It is also used for monitoring sessions of privileged users, managing credentials of the shared accounts and securing remote access over devices. It also acts as a safe password management solution that controls administrative operations in a database.
It enables the organizations to monitor in- and out-premise threats by centrally handling and reviewing the use of privileged access credentials across platforms. Owing to this, it finds extensive applications across various industries, including banking, financial services and insurance (BFSI), defense, healthcare, manufacturing, information technology (IT) and telecommunications.
Significant growth in the IT industry, along with the increasing instances of cyberattacks and data thefts in organizations, is one of the key factors creating a positive outlook for the market. Furthermore, increasing deployment of cloud-based services to improve operational efficiencies of the organizations is also providing a boost to the market growth. These services enable organizations to minimize access time and support the teams to deploy multi-factor authentication systems.
Additionally, various innovations, such as the development of Software-as-a-Service (SaaS)-based PIM solutions that offer pay-per-model, automated updates and instant access to users, are also contributing to the market growth. Other factors, including the widespread adoption of artificial intelligence (AI)-based PIM solutions and the emerging trend of bring-your-own-devices (BYOD) in organizations, are also projected to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global privileged identity management (PIM) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component type, installation type, deployment mode, organization size and vertical.Breakup by Component Type:
- Solution
- Identity Management
- Access Management
- Session Monitoring and Management
- Service
- Professional Services
- Managed Services
Breakup by Installation Type:
- Agent-based
- Appliance-based
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium Enterprise
- Large Enterprise
Breakup by Vertical:
- BFSI
- Government and Defense
- Healthcare
- Energy and Utilities
- Telecom and IT
- Retail
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Bomgar Corporation (FP), BeyondTrust Corporation, CA Technologies (Broadcom Inc.), Centrify Corporation (Thoma Bravo), Core Security Technologies (HelpSystems LLC), CyberArk Software Ltd., IBM Corporation, Iraje Software, NRI SecureTechnologies Ltd (Nomura Research Institute Ltd.), Oracle Corporation, Osirium Ltd., Quest Software Inc. (Dell Inc.), Thycotic Software LLC, etc.Key Questions Answered in This Report:
- How has the global privileged identity management (PIM) market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global privileged identity management (PIM) market?
- What is the breakup of the market based on the component type?
- What is the breakup of the market based on the installation type?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global privileged identity management (PIM) market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Privileged Identity Management (PIM) Market
6 Market Breakup by Component Type
7 Market Breakup by Installation Type
8 Market Breakup by Deployment Mode
9 Market Breakup by Organization Size
10 Market Breakup by Vertical
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bomgar Corporation (FP)
- BeyondTrust Corporation
- CA Technologies (Broadcom Inc.)
- Centrify Corporation (Thoma Bravo)
- Core Security Technologies (HelpSystems LLC)
- CyberArk Software Ltd.
- IBM Corporation
- Iraje Software
- NRI SecureTechnologies Ltd (Nomura Research Institute Ltd.)
- Oracle Corporation
- Osirium Ltd.
- Quest Software Inc. (Dell Inc.)
- Thycotic Software LLC
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 141 |
Published | August 2024 |
Forecast Period | 2023 - 2032 |
Estimated Market Value ( USD | $ 5.6 Billion |
Forecasted Market Value ( USD | $ 47.3 Billion |
Compound Annual Growth Rate | 26.8% |
Regions Covered | Global |
No. of Companies Mentioned | 13 |