Global Privileged Access Management Market is valued approximately at USD 3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 23.1% over the forecast period 2023-2030. The privileged access management (PAM) market refers to the sector that focuses on providing solutions and technologies for managing and securing privileged access to critical systems and sensitive data within organizations. PAM solutions help to prevent unauthorized access, monitor privileged activities and enforce security policies to protect against potential insider threats and external attacks. Privileged accounts are accounts that have privileged permissions and access privileges, often used by system administrators, IT staff, and other privileged users to manage critical systems, networks, and sensitive data. Increasing threat of data breach and the growing need for IoT device management are some of the factors that are boosting the growth of the Privileged Access Management Market.
According to Statista, around 6.5 billion consumer edge-enabled Internet of Things (IoT) devices are anticipated to exist globally by 2030, an increase of more than four billion from the year 2020. As internet usage continues to increase, so does amount of private data made available online. As a result, there are now more hazards for people, businesses, organizations, and governments. According to Statista, the average cost of a data breach in the healthcare industry increased from USD 9.23 million between May 2020 and March 2021 to over USD 10 million between March 2021 and March 2022. The financial sector came in second with a cost per breach of USD 5.97 million on average. During the measurement period, the average cost of a data breach was USD 4.35 million globally. Moreover, rise in digitization and growing adoption of cloud-computing services is expected to create lucrative opportunities for the market growth in the forecast period of 2023-30. However, the lack of awareness about emerging security threats and the high cost of innovation and implementation of software stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Privileged Access Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share because the region has more business and industrial establishment. Due to the region's expanding self-employment and growing number of business startups, the market for privileged access management (PAM) has is expected to growth further. According to the Global Entrepreneurship Monitor, the start-up rate in the United States was 10.7% in 2020. However, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as growing internet usage, operational digitization, and the rapid growth of digital infrastructure.
Major market player included in this report are:
- Centrify Corporation
- Hitachi ID Systems, Inc.
- Cyberark Software Ltd.
- Krontech, Inc.
- Silverlake Mastersam
- Bomgar Corporation
- Lieberman Software
- Oracle Corporation
- Simeio Solutions
- Wallix Group
Recent Developments in the Market:
- In January 2023, Simeio, the industry's top supplier of specialised identity and access management (IAM) services acquired PathMaker Group (PMG), a pioneer in identity management services and solutions with headquarters in Texas.
- In June 2022, Amazon Web Services (AWS) launched IoT Device Mangement which helps in the scalability, organisation, registration, and remote management of IoT devices.
- In July 2021, Microsoft purchased CloudKnox Security to provide centralised control of cloud entitlements and privileged access.
Global Privileged Access Management Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Solution Type, Application, End Use, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution Type:
By Application:
- Small and Medium-sized Enterprises
- Large Enterprises
By End Use:
- IT & Telecom
- Healthcare
- Energy & Utility
- Retail
- Manufacturing
- Government & Defense
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Privileged Access Management Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Privileged Access Management Market, by Solution Type, 2020-2030 (USD Billion)
- 1.2.3. Privileged Access Management Market, by Application, 2020-2030 (USD Billion)
- 1.2.4. Privileged Access Management Market, by End Use, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Privileged Access Management Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Privileged Access Management Market Dynamics
- 3.1. Privileged Access Management Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing threat of data breach
- 3.1.1.2. Growing need for IoT device management
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of awareness about emerging security threats
- 3.1.2.2. High cost of innovation and implementation
- 3.1.3. Market Opportunities
- 3.1.3.1. Rise in digitization
- 3.1.3.2. Growing adoption of IT & Telecoms-computing Services
Chapter 4. Global Privileged Access Management Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Privileged Access Management Market, by Solution Type
- 5.1. Market Snapshot
- 5.2. Global Privileged Access Management Market by Solution Type, Performance - Potential Analysis
- 5.3. Global Privileged Access Management Market Estimates & Forecasts by Solution Type 2020-2030 (USD Billion)
- 5.4. Privileged Access Management Market, Sub Segment Analysis
- 5.4.1. Software
- 5.4.2. Services
Chapter 6. Global Privileged Access Management Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Privileged Access Management Market by Application, Performance - Potential Analysis
- 6.3. Global Privileged Access Management Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4. Privileged Access Management Market, Sub Segment Analysis
- 6.4.1. Small and Medium-sized Enterprises
- 6.4.2. Large Enterprises
Chapter 7. Global Privileged Access Management Market, by End Use
- 7.1. Market Snapshot
- 7.2. Global Privileged Access Management Market by End Use, Performance - Potential Analysis
- 7.3. Global Privileged Access Management Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
- 7.4. Privileged Access Management Market, Sub Segment Analysis
- 7.4.1. IT & Telecom
- 7.4.2. Healthcare
- 7.4.3. Energy & Utility
- 7.4.4. Retail
- 7.4.5. Manufacturing
- 7.4.6. Government & Defense
- 7.4.7. Others
Chapter 8. Global Privileged Access Management Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Privileged Access Management Market, Regional Market Snapshot
- 8.4. North America Privileged Access Management Market
- 8.4.1. U.S. Privileged Access Management Market
- 8.4.1.1. Solution Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End Use breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Privileged Access Management Market
- 8.5. Europe Privileged Access Management Market Snapshot
- 8.5.1. U.K. Privileged Access Management Market
- 8.5.2. Germany Privileged Access Management Market
- 8.5.3. France Privileged Access Management Market
- 8.5.4. Spain Privileged Access Management Market
- 8.5.5. Italy Privileged Access Management Market
- 8.5.6. Rest of Europe Privileged Access Management Market
- 8.6. Asia-Pacific Privileged Access Management Market Snapshot
- 8.6.1. China Privileged Access Management Market
- 8.6.2. India Privileged Access Management Market
- 8.6.3. Japan Privileged Access Management Market
- 8.6.4. Australia Privileged Access Management Market
- 8.6.5. South Korea Privileged Access Management Market
- 8.6.6. Rest of Asia Pacific Privileged Access Management Market
- 8.7. Latin America Privileged Access Management Market Snapshot
- 8.7.1. Brazil Privileged Access Management Market
- 8.7.2. Mexico Privileged Access Management Market
- 8.8. Middle East & Africa Privileged Access Management Market
- 8.8.1. Saudi Arabia Privileged Access Management Market
- 8.8.2. South Africa Privileged Access Management Market
- 8.8.3. Rest of Middle East & Africa Privileged Access Management Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Centrify Corporation
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Hitachi ID Systems, Inc.
- 9.3.3. Cyberark Software Ltd.
- 9.3.4. Krontech, Inc.
- 9.3.5. Silverlake Mastersam
- 9.3.6. Bomgar Corporation
- 9.3.7. Lieberman Software
- 9.3.8. Oracle Corporation
- 9.3.9. Simeio Privileged Access Management Software
- 9.3.10. Wallix Group
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption