According to SPER Market Research, Privileged Identity Management Market is estimated to reach USD 26.78 billion by 2032 with a CAGR of 29.54%. During the projection period, the market for privileged identity management would expand at a CAGR of. Increased awareness of insider incidents involving data theft is a key driver propelling the market for privileged identity management. The growth in government monitoring agreements is one of the key factors driving the privileged identity management industry. Other significant factors include the adoption of identity management best practices, the danger of insider assaults resulting in data breaches, and the requirement to maximize organizational effectiveness. The market for laser technology will also experience a surge in new opportunities over the aforementioned projection period as a result of digitization, acceptance of identification as a service (IDaaS), and growth in the introduction of intelligence-based privileged identity management systems. The expensive cost of innovation and implementation, among other things, is what’s preventing the privileged identity management industry from growing over the course of the aforementioned research period.
Privileged Identity Management Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 29.54%
- Forecast Market Size (2032): 26.78 billion
Global business operations have been impacted by the COVID-19 pandemic. To lessen the burden on corporate operations caused by the epidemic, firms have used remote work practices and cloud computing. The increasing use of the cloud and remote work has raised worries among enterprises about data security and privacy. Cybercrimes and a rise in identity frauds have accelerated the adoption of IAM solutions amid the pandemic due to the economic damage brought on by the COVID-19 pandemic. Businesses have realized the value of these solutions as a result of the COVID-19 epidemic, and as a result, this market is anticipated to expand significantly over the long term.
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Impact of COVID-19 on the Global Privileged Identity Management Market
The COVID-19 Pandemic has affected commercial activities all over the world. Organizations have implemented a remote work ethic and cloud technologies to lessen the impact on business operations as a result of the pandemic. Data protection and privacy problems for enterprises have grown as a result of the growing use of the cloud and remote work. IAM solutions have seen increased acceptance in the midst of the COVID-19 pandemic due to the economic disruption brought on by cybercrime and a rise in identity fraud. Since businesses have realized the advantages of these solutions as a result of the COVID-19 epidemic, it is anticipated that this market will expand significantly over the long run.
Privileged Identity Management Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
- Access Management
- Identity Management
- Session Monitoring and Management
- Managed Services
- Professional Services
- Consulting Services
- Education and Training
- Implementation and Integration
- Support and Maintenance
By Deployment Mode:
By Installation Type:
By Organization Size:
- Large Enterprises
- Small and Medium Enterprises
By End User:
- Energy & Utilities
- Government & Defense
- Telecom & IT
- Middle East & Africa
- North America
- Latin America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Privileged Identity Management Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ARCON, Balabit, BeyondTrust, Bomgar Corporation, CA, Inc., Centrify, Core Security, Cyberark, Hitachi-ID, IBM Corporation, Iraje, Lieberman Software, NRI Secure Technologies, ObserveIT, Onion ID, Oracle Corporation, Osirium, Quest Software, Silverlake Mastersam, Simeio Solutions, Thycotic, Wheel Systems.
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