Market Scenario:

The Privileged Identity Management Market Size research report provides a summary of the effects of COVID-19 on current/future market situations. The report describes some of the significant market factors that will affect the growth of this sector, such as market share, major region, and key players.

As per Market Research Future (MRFR) analysis, The global privileged identity management market is anticipated to reach a valuation of USD 20 million by the year 2030, with a CAGR of 28 percent between 2021-2030

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Competitive Landscape of the market:

The major players of the privileged identity management market are:

• Balabit (Hungary)
• IBM Corporation (U.S.)
• ARCON (India)
• Hitachi-ID (Canada)
• BeyondTrust (U.S.)
• Cyberark (U.S.)
• Bomgar Corporation (U.S.)
• Core Security (U.S.) 
• Centrify (U.S.)
• CA, Inc. (U.S.) 

Segmentation:

The solution segment has been further segregated into identity management, access management, session monitoring, and management. Service segment has been further segregated into professional services, implementation and integration, consulting, education and training, support and maintenance, and managed services.

Based on the component, the global privileged identity management market has been divided into solution and service.

Based on the installation type, the global privileged identity management market has been segmented into agent-based and appliance based.

Based on the deployment type, the global privileged identity management market has been segmented into cloud and on-premises. The cloud solution is expected to gain the largest market share by the deployment category.

Based on organization size, the global privileged identity management market has been segmented into small & medium enterprises and large enterprises. 

Based on vertical, the global privileged identity management market has been segmented into government & defence, healthcare, manufacturing, energy & utilities, IT & telecommunication, retail, and others.

Regional Analysis:

North American region is projected to account for the largest share of the privileged identity management market due to higher adoption of bring your own device (BYOD) technology and malicious software that can easily hack sensitive information. There is an increased acceptance of technologies, such as session monitoring and identity management. The Asia Pacific region is projected to account for the highest CAGR in the PIM market due to an improvement in IT infrastructure and an increase in cyber-attacks.

Industry News:

The global Privileged Identity Management Market Report Market Trends has been affected due to the lockdown across the regions. This pandemic situation has hampered the Privileged Identity Management Market Report Market Growth as well as its productivity, supply chain, and others. Moreover, the global market has lost its investors due to the increasing loss for the products, supply, transportation, workforce, and others. However, in the meantime, the key market players have implied various strategic techniques to boost global market growth. Thus, to meet the global market demands, the global market increased its speed in producing more valuable products for its intended customers. Recently, the global market has stabilized its position in the global market and is expected to register a higher Privileged Identity Management Market Report Market Size for the forecast period.

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Privileged Identity Management Industry Developments:

January:

• Gartner publishes its Magic Quadrant for Privileged Access Management, with CyberArk, Centrify, and Thycotic positioned as Leaders.

February:

• IBM announces the acquisition of Resilient Systems, a provider of cloud-based security orchestration, automation, and response (SOAR) solutions.

March:

• Microsoft releases Azure Active Directory Privileged Identity Management (Azure AD PIM), a cloud-based PIM solution.

April:

• Wallix announces the acquisition of HunterSuite, a provider of privileged access management and security information and event management (SIEM) solutions.

May:

• BeyondTrust releases its Privileged Access Management 10.0 platform, which includes new features for remote access management, session recording, and privileged password management.

June:

• Hitachi ID Systems releases its Privileged Identity Management 5.0 platform, which includes new features for risk-based access control and compliance reporting.

July:

• CyberArk releases its Privileged Access Management 10.5 platform, which includes new features for zero trust access and multi-factor authentication.

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