Privileged Access Management Solutions Market Growth Accelerates: Strategic Forecast Predicts $13.6 Billion by 2029

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What Will the Privileged Access Management Solutions Industry Market Size Be by 2025?
The market size for privileged access management solutions has seen significant expansion over the past few years. Its size is projected to increase from $3.87 billion in 2024 to $4.88 billion in 2025, showcasing a compound annual growth rate (CAGR) of 26.2%. The expansion observed in the past can be attributed to factors such as regulatory compliance needs, growing consciousness of internal threats, a surge in privileged accounts, major security incidents, and the inadequacy of conventional security measures.

What's the Long-Term Growth Forecast for the Privileged Access Management Solutions Market Size Through 2029?
In the next few years, the market size of privileged access management solutions is expected to experience remarkable growth. The market is predicted to reach a value of $13.61 billion in 2029, with a compound annual growth rate (CAGR) of 29.2%. The surge in growth during the forecast period can be linked to a growing remote workforce, improvements in vendor risk management, an emphasis on data privacy, augmented funding for cybersecurity endeavours, and global cybersecurity collaborations. The forecast period will also see significant trends like cloud integration, fusion with identity and access management (IAM), advanced analytics and artificial intelligence, remote work security, password-free authentication, and user education and training.

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What Are the Key Growth Drivers Fueling the Privileged Access Management Solutions Market Expansion?
The mounting worries surrounding cyber threats are predicted to fuel the expansion of the privileged access management solutions market in the future. Cyber threats encompass harmful actions designed to obliterate, pilfer data, and incapacitate work systems, posing a threat to the digital tranquility and resilience of an enterprise's IT infrastructure. These privileged access management solutions aid organizations in preserving the required access levels for operating effectively and empower security teams to spot and promptly react to harmful activities related to privilege misuse, which mitigates the cyber threat within an organization. For example, as per the Australian Cyber Security Centre, an Australian-based cyber security organization, in 2022, they received 76,000 reports of cybercrime, a 13% increase from the year before, as stated in February 2023. Consequently, this growing anxiety over cyber threats propels the privileged access management solutions market's growth.

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What Are the Key Trends Driving Privileged Access Management Solutions Market Growth?
The leading trend emerging in the privileged access management solutions market is technological progression. The primary firms in the market are concentrating on research and development to innovate their product offerings. For instance, CyberArk Software Ltd, a U.S.-based player in the privileged access management solutions industry, has launched a CyberArk Cloud Entitlements Manager. This tool utilizes artificial intelligence to boost the security measures of an organization's cloud environments. The CyberArk Cloud Entitlements Manager leverages identity security tactics to comprehend context and intention, evaluate potential risks, and initiate suitable actions. It works to shield an organization's cloud environment by continuously identifying and rectifying hidden, misconfigured, and unused cloud permissions. Moreover, the CyberArk Cloud Entitlements Manager can be set up to give an exposure level analysis and detailed remediations to provide superior customer value. This includes a central dashboard that offers users a unified view of permissions.

How Is the Privileged Access Management Solutions Market Segmented?
The privileged access management solutions market covered in this report is segmented -

1) By Offerings: Solution, Service, Other Offerings
2) By Deployment: Cloud, On-Premise
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Windows, Unix And Linux, Mac OS, Infrastructure Devices And IoT
5) By End-User: Healthcare, BFSI, Government, Energy And Utilities, Manufacturing, Retail, IT And Telecom, Other End-Users

Subsegments:
1) By Solution: Password Vaulting Solutions, Session Management Solutions, Privileged Account Management Solutions
2) By Service: Consulting Services, Implementation Services, Managed Services
3) By Other Offerings: Training And Support, Integration Services, Custom Development Solutions

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Which Companies Are Leading the Charge in Privileged Access Management Solutions Market Innovation?
Major companies operating in the privileged access management solutions market are Arcon Techsolutions Private Limited, BeyondTrust Corporation, CA Technologies Inc., Avatier Corporation, CyberArk Software Ltd., Hitachi Ltd., Lieberman Software Corporation, Zoho Corporation Pvt. Ltd., Onion ID Inc., Osirium Technologies PLC, Peritus Inc., Remediant Inc., Silverfort Ltd., SolarWinds Corporation, SSH Communications Security corporation, Systancia SA, International Business Machines Corp., Micro Focus International PLC, Okta ASA, HashiCorp Inc., Broadcom Inc., StrongDM, Bitium Corporation, Keeper Security Inc., McAfee Corp., Netwrix Corporation, Quest Software Inc., Akamai Technologies Inc., ManageEngine Password Manager Pro

Which Regions Are Leading the Global Privileged Access Management Solutions Market in Revenue?
North America was the largest region in the privileged access management solutions market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the privileged access management solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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