Privileged Identity Management Market Outlook, Geographical Segmentation, Industry Size & Share, Comprehensive Analysis to 2030
The global privileged identity management market will touch USD 20 million at a 28% CAGR by 2030, states the latest Market Research Future (MRFR) report.
- Drivers – Increasing Emergence of Intelligence-based Privileged Identity Management Solutions to Boost Market Growth
The increasing emergence of intelligence-based privileged identity management solutions will boost market growth over the forecast period.
- Opportunities – Rising Instances of Data Thefts to offer Robust Opportunities
The rising instances of data thefts and cyber-attacks in organizations will offer robust opportunities for the market over the forecast period. Besides, different innovations like the development of SaaS-based PIM solutions that provide pay-per-model, instant access, and automated updates to users, the widespread adoption of AI-based PIM solutions, as well as the emerging trend of BYOD in organizations are also adding market growth.
- Restraints – High Set-Up Cost to act as Market Restraint
The high setting up cost of privileged identity management systems may act as market restraint over the forecast period.
- Challenges – Lack of Awareness regarding Emerging Security Threats to act as Market Challenge
The lack of awareness regarding emerging security threats may act as market challenge over the forecast period.
The global privileged identity management market is bifurcated based on component, installation type, deployment, and organization size.
By component, the solution segment will lead the market over the forecast period.
By installation type, the privileged identity management market is segmented into appliance based and agent based.
By deployment, the cloud segment will dominate the market over the forecast period.
By organization size, the large enterprise segment will spearhead the market over the forecast period.
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Eminent industry players profiled in the global privileged identity management market report include ARCON (India), Balabit (Hungary), Beyond Trust (U.S.), IBM Corporation (U.S.), Bomgar Corporation (U.S.), CA, Inc. (U.S.), Centrify (U.S.), Core Security (U.S.), Cyberark (U.S.), and Hitachi-ID (Canada), among others.
In today’s digital landscape, organizations face numerous cybersecurity challenges. One such critical area is managing privileged identities, which, if left unsecured, can pose significant risks to an organization’s sensitive data and resources. Privileged Identity Management (PIM) has emerged as a vital solution to mitigate these risks. This article delves into the depths of PIM, its importance, best practices, and how it contributes to overall cybersecurity.
- Understanding Privileged Identity Management (PIM)
1.1 Defining Privileged Identities
1.2 The Role of Privileged Access
1.3 The Need for Privileged Identity Management
- Key Components of Privileged Identity Management
2.1 Privileged Account Discovery and Inventory
2.2 Access Control and Monitoring
2.3 Privileged Session Management
2.4 Privilege Elevation and Delegation
2.5 Password Management and Rotation
- Benefits of Privileged Identity Management
3.1 Strengthened Security Posture
3.2 Enhanced Compliance and Auditability
3.3 Minimized Insider Threats
3.4 Streamlined IT Operations
3.5 Improved Incident Response and Recovery
- Best Practices for Implementing Privileged Identity Management
4.1 Conducting a Thorough Risk Assessment
4.2 Establishing a Least Privilege Model
4.3 Implementing Multi-Factor Authentication (MFA)
4.4 Regularly Reviewing and Updating Access Policies
4.5 Monitoring and Logging Privileged Activities
- Challenges and Considerations in Privileged Identity Management
5.1 Balancing Security and Usability
5.2 Managing Third-Party Access
5.3 Integrating PIM with Existing Infrastructure
5.4 Ensuring Scalability and Performance
5.5 Addressing Insider Threats and Privilege Abuse
- Emerging Trends in Privileged Identity Management
6.1 Zero Trust and Adaptive Access Control
6.2 Privileged Behavior Analytics
6.3 Automation and Orchestration
6.4 Cloud-Based PIM Solutions
6.5 Privileged Identity Management for Remote Workforce
Cognitive Assessment and Training Market
As organizations continue to face evolving cybersecurity threats, Privileged Identity Management plays a crucial role in safeguarding sensitive information and preventing unauthorized access. By implementing robust PIM strategies, organizations can bolster their security posture, enhance compliance, and streamline IT operations. Prioritizing privileged identity management is no longer an option but a necessity in the digital age.