Press release
Global Privileged Identity Management Market Record Highest CAGR 33.3% by 2024
Global Privileged Identity Management Market Growth of 33.3%
The Global Privileged Identity Management Market accounted for USD 1.02 billion in 2016 growing at a CAGR of 33.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Privileged identity management is the process of managing and helping an organization to track the use of shared privileged identities. Oversight is required in order to safeguard the super control accounts, so that they are not misused. It is essential to cater many issues running in an IT organization, for instance lack of consistency in password change policy, brand reputation damage, lower technical staff efficiency, lack of administrative accountability and others. Thus, privileged identity management is widely being implemented by organizations to help transform and protect the business environment. It has its wide application in banking, financial services, and insurance (BFSI), government and defense, healthcare, manufacturing, energy and utilities, telecom and IT, retail, and others. Increasing threat of data breach due to insider attacks may act as the major driver in the growth of privileged identity management market. On the other side high cost of innovation and implementation may hamper the market.
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Market Segmentation:
On The Basis Of Installation Type: - appliance-based, and agent-based
On The Basis Of Deployment Mode: - on-premises, and cloud
On The Basis Of Geography, the global privileged identity management market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
On The Basis Of Component: - solutions and services. The solutions segment is further sub segmented into identity management, access management, session monitoring and management. The services segment is further sub segmented into professional services, and managed services. The professional segment is further sub segmented into implementation and integration, consulting, education and training, support and maintenance.
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On The Basis Of Enterprise: - large enterprise, small enterprise and medium enterprise (SMEs).
On The Basis Of Vertical: - banking, financial services, and insurance (BFSI), government and defense, healthcare, manufacturing, energy and utilities, telecom and IT, retail, and others.
Major Market Competitors:
Some of the major players of the global privileged identity management market are ARCON, Balabit Corp, BeyondTrust, inc., Bomgar Corporation, CA, Centrify Corporation, Core Security SDI Corporation, CyberArk Software Ltd., Hitachi ID Systems, Inc., IBM Corporation, Iraje, Lieberman Software Corporation, Zoho Corp, Micro Focus, NRI SecureTechnologies,Ltd, ObserveIT, Onion ID, Inc., Oracle, Osirium Ltd, Quest Software Inc., Silverlake Mastersam Ltd., Simeio Solutions, Thycotic, WALLIX, Wheel Systems, and others.
Major Market Drivers & Restraints:
• Need to optimize organization efficiency
• Increasing threat of data breach due to insider attacks
• Government regulatory compliances
• Adoption of best practices for identity management
• High cost of innovation and implementation
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