In terms of revenue, The Privileged Identity Management market accounted to US$ 1496.6 Mn in 2018 and is expected to grow at a CAGR of 30.8 % during the forecast period 2019 – 2027, to account to US$ 16331.6 Mn by 2027.
North America was the leading geographic Privileged Identity Management market and it is anticipated to be the highest revenue contributor throughout the forecast period. Factors such as penetration of internet users, increasing popularity of mobile services across various sectors such as BFSI and Government, and growing digitization have a profound influence over the penetration of the Privileged Identity Management market during the past few years. The Privileged Identity Management market is mostly driven by factors such as increasing trend of BYOD and increasing spending on security solutions. With the increasing usage of mobile devices and tablets, it has given rise to many identification issues. Employees can access confidential information such as corporate emails, financial database, and other business information using these devices. Businesses are highly focused on investing for security solutions to restrict employees from misusing confidential data through fraudulent activities. Also, increased use of portable devices has made corporate networks more susceptible to hacking. Hence, companies are adopting Privileged Identity Management solutions to secure their network and provide safe access.
Privileged Identity Management Market Insights
The growing popularity of BYOD and mobile devices to have a noteworthy impact on the Privileged Identity Management market
With the increasing need for seamless connectivity between the corporate network and the employees, employs use personal devices such as smartphones, laptops, and tablets to access the company’s database and confidential information. The increasing adoption of bring your own device has led to the increased access and storage of critical information, which has further increased the need for data protection.
The rising employee mobility has led to the increased use of mobile devices. These devices are not generally secured, and it’s easy for hackers to access to mobile devices and gain unauthorized access to corporate networks, which may lead to fraudulent activities and misuse of corporate and business-critical data. With the increasing threat of data breaches, the businesses are adopting Privileged Identity Management solutions to secure the network and to provide secure access to confidential information. Increasing adoption of BYOD is one of the key factor fuelling the global Privileged Identity Management market and are expected to have a significant impact on the growth of Privileged Identity Management market during the forecast period.
Privileged Identity Management Regional Growth- 2019-2027
The report segments the global Privileged Identity Management market as follows:
- IT & Telecom
- Healthcare & Pharmaceutical
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Privileged Identity Management market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Privileged Identity Management market segments and regions.
Scope of the Report
The research on the Privileged Identity Management market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Privileged Identity Management market on the basis of end user, product type, application, and demography for the forecast period 2019-2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
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The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Privileged Identity Management market during the forecast period, i.e., 2019-2027. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
Major highlights of the report:
- All-inclusive evaluation of the parent market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of market share
- Study of niche industrial sectors
- Tactical approaches of market leaders
- Lucrative strategies to help companies strengthen their position in the market
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