Privileged identity management is the most efficient approach for the organization for widespread management of super user accounts. Leadership teams and senior management representatives may have administrative rights and access to classified information about the company. To avoid any compromise such rights and access need close supervision and appropriate controls. Privileged identity management guarantees unique allocation of identity and privileges for each user, whether on-site or remote so that they can only access data within their privilege limits including the type of action that each account can take. A possible risk for the company is any unmanaged account; all users must be identifiable and actively reviewed for device privileges that are acceptable. Lack of controls on privileged identity management will increase risks and exploitation of highly sensitive data and resource access permissions. A former employee may continue to access confidential data, a malicious attacker may discover an abandoned account and silently use it or current employees may take unauthorized acts. Privileged identity management prevents an enterprise from unintended resource disturbances by a user who wrongly discovers confidential information or an unauthorized intruder looking for access.
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The increasing adoption of cloud technology among the organizations has changed the identity and access management with expanded data access points with an exponential increase in types and locations of users and privileged accounts. As a result of these situations data breaches are on the rise. This factor is boosting the adoption of privilege identity management over the forecast period. Privileged identity management instruments apply the least privilege principle for all users. This principle states that users should only have permissions that they absolutely need to perform their roles; however, this principle applies to the network's most important users. PIM tools help companies increase their visibility over their customers as part of this compliance. In addition privileged identity management software will monitor the IT infrastructure for improvements, upgrades, and other modifications this prevents unauthorized users from making changes that could compromise information or workflows. Privilege control is getting wider; it includes not only password and username management but also full support for runtime management of privileged sessions. This also helps in concentrating on a few extremely privileged users and also on all forms of privileged users.
Not all organizations use PIM across different geographies to handle several thousands of systems. However company expansion or business shift does not impact the capacity of PIM software to scale economically from a few divisions to a global network and will provide tremendous cost savings. Significant business expansions do not hamper the output of PIM solution.
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Different solutions, such as identity management, access management, and session monitoring and management are included in the privileged identity management market. Businesses and government entities are increasingly embracing these solutions as the number and frequency of attacks on privileged user accounts has increased. The insider of an organization is the person who can access the assets of the organization, either physically or from a remote location. An employee vendor or business partner may be an insider who can access physical data such as hard copies of records and digital assets such as digital media and other information resources. Insider threats within companies are increasingly growing and triggering data breaches. There is tremendous recognition of privileged identity management due to this risky world of insider attacks. Inside a company, the super user accounts have access to a huge database and the security of this data is the primary objective of businesses. It is expected that privileged identity management will see tremendous consumer demand over the years because of its ability of wide spread management of super user accounts.
North America privileged identity management market is projected to be the largest contributor towards revenue over the forecast period. Factors such as internet usage penetration, growing mobile service popularity across various sectors such as Government and BFSI and increasing digitization have had a profound effect on the penetration of the privileged identity management market over years in this region. With the growing use of mobile devices and tablets, several identification problems have been developed. Employees may use these devices to access sensitive information such as company addresses and other business information. Businesses are strongly focused on investing in technologies to limit the misuse of sensitive data by employees. Increased use of handheld devices has also made business networks more vulnerable to hacking. These factors are boosting the adoption of privileged identity management solutions among various organizations across different verticals.
Organizations are growing the implementation of solutions focused on the cloud. IDaaS is a cloud-based authentication or identity management system that organizations of all sizes can subscribe to. This approach guarantees access by an approved individual to documents and networks at the right time. For example, businesses like Amazon have integrated identity management solutions that help them run all of their cloud applications. It helps users to control and preserve confidentiality from anywhere in their account. These applications request some proof of authentication when logged in from some other computer and also send a confirmation message to the user's registered mail ID about the same. In addition one of the reasons that is driving the growth of the privileged identity management market is the growing need for organizations to offer approved access to individuals for apps, data and networks.
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Some of the players operating in the privileged identity management market include ARCON, BeyoundTrust Corporation, Centrify Corporation, CA Technologies (Broadcom), Core Security (SecureAuth), CyberArk software Ltd, Hitachi ID Systems Inc, IBM Corporation, Iraje, Micro Focus, NRI Secure Technologies Ltd, ObserveIT, Oracle, Onion ID Inc, Quest Software Inc, Senha Sengura, Simeio Solutions, Silverlake Mastersam Limited, Thycotic, Wheels Systems, Wallix and Zoho Corp and other market participants.
The detailed research study provides qualitative and quantitative analysis of the privileged identity management market. The privileged identity management market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Global privileged identity management market
- By Deployment Mode
- Cloud Based
- On Premise
- By End User
- Corporate
- Small and Medium Sized Enterprises
- Large Enterprises
- Individuals
- By Application
- Lead Management
- Customer Management
- Review Management
- Data Management
- Others
- By Verticals
- Energy and Utilities
- Banking, Financial Services and Insurance (BFSI)
- Manufacturing
- Retail
- IT and Telecommunication
- Others
- By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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