IARC

Privileged Identity Management Market: Experts predict growth till at least 2021.

Press Release   •   Nov 14, 2016 06:14 EST

The Privileged Identity Management Market is usually classified as a subset within the identity management industry. But the focus of privileged access management is on the security of IT infrastructure. The Privileged Identity Management Market provides services which help organizations beef up security and monitor the usage patterns of a privileged user. This monitoring is done by a privileged account manager. Other than security, the Privileged Identity Management Market also helps organizations in conforming to the latest rules and regulations regarding data leaks.

The growth of the Privileged Identity Management Market is being driven by the increasing usage of mobile devices which makes privilege management difficult to secure. Organizations are also encouraging the trend of employees bringing their own devices. This leads to a need for thorough privileged access management. Privileged user management makes sure that the data is secure as well as warning the employees to handle it carefully.

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The privileged user management services are a popular demand among sectors like healthcare and banking & financial services. These sectors are 2 crucial drivers of growth in the Privileged Identity Management Market. Virus, spyware and malware are constantly evolving and improving. Hence, privileged password management is crucial. Even though security protocols are constantly being updated, hacker are finding chinks the armor. Hence, privileged password management is an important aspect for the overall growth of the Privileged Identity Management Market. The rising use of open source software also makes privilege management difficult for the privileged account manager. IndustryARC believes that pen source software also serves as a considerable rival for the Privileged Identity Management Market especially among the small and medium organizations.

The Privileged Identity Management Market can be divided in the form of various segments.

Segmentation on the basis of product:

  • Software licenses
  • Services
  • Others

Segmentation on the basis of mode of deployment:

  • On-site
  • Cloud
  • Hybrid Cloud

Segmentation on the basis of end-users:

  • Large Enterprises
  • Small and Medium Businesses
  • Government Organizations

Currently, large organizations account for the largest share in the Privileged Identity Management Market revenue. IndustryARC expects them to continue to be biggest drivers of growth till at least 2021.

Segmentation on the basis of regional markets:

  • North America
  • Europe
  • South America
  • Asia-Pacific
  • Middle East
  • Africa

There is a growing awareness for the need to prevent as well as contain data breaches. In an increasingly connected world, the task to keep data confidential is harder than ever.

Some of the key players involved in the global Privileged Identity Management Market are as follows:

  • BeyondTrust
  • ARCON
  • Thycotic
  • NetIQ
  • NRI SecureTechnologies

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