Privileged Identity Management Market, by Component (Solution, Service), Installation Type (Appliance-Based & Agent-Based), Deployment Mode (On-premises, Cloud), organization size (Small and Medium Enterprises (SMEs), Large enterprises) Vertical (Banking, Financial Services, and Insurance (BFSI), Government and Defense, Healthcare, Manufacturing, Energy and Utilities, Telecom and IT, Retail, Others) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022
Chicago, IL -- (SBWIRE) -- 06/12/2017 -- Data breach and cyber-attacks are some of the biggest threats faced by today's businesses. Privileged identity management is comprehensive solution, which helps business organization in safeguarding privileged identities by hindering unauthorized access from users from multiple domains including employees, IT administrators, and third-parties such as vendors, contractors, and consultants. Privileged Identity Management is a component of Identity Management, focused on the special requirements for accounts with more power in the IT infrastructure of enterprises. An information technology infrastructure of the organization basically comprised of various components such as servers, firewalls, databases, network devices. All these components are controlled by using a series of privileged accounts (root account of UNIX server, Oracle SYS account of the Oracle database system, the Administrator account of Windows servers).
The report on the global Privileged identity management market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions. It also focuses on the growth drivers and restraints for the key market players during the forecast period.
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North America has the largest market size in the privileged identity management market, due to the presence of a large number of security vendors, whereas Asia-Pacific (APAC) is expected to be the fastest-growing region. Factors, such as increasing Internet usage, compliance regulation, and implementation of BYOD technology are major forces for the adoption of privileged identity management applications. Furthermore, the market in developing regions, such as Middle East & Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, hosting services, and government regulatory compliances.
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KEY PREMIUM INDUSTRY INSIGHTS
The global privileged identity management market is expected to witness decent growth rate during the forecast period.
Rising data security concern and protection from external attackers and malicious insiders which gain unauthorized access to sensitive data and control of the IT infrastructure will drive the privileged identity management market in the coming years.
The identity management solution is estimated to contribute the largest market share during the forecast period.
Due to increasing adoption of Bring Your Own Device (BYOD) technology in enterprises and the efforts of managing the credentials or identities associated with each super-user account, privileged identity is becoming a major point of concern for organizations.
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