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Global Privileged Access Management Market to reach USD 15.8 billion by the end of 2030.

Global Privileged Access Management Market Size study & Forecast, by Solution Type (Software Type, Services), by Application (Small and Medium-sized Enterprises, Large Enterprises), by End Use (IT & Telecom, Healthcare, Energy & Utility, Retail, Manufacturing, Government & Defense, Others) and Regional Analysis, 2023-2030

Product Code: ICTEITS-49434903
Publish Date: 13-07-2023
Page: 200

Global Privileged Access Management Market is valued approximately at USD 3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 23.1% over the forecast period 2023-2030. The privileged access management (PAM) market refers to the sector that focuses on providing solutions and technologies for managing and securing privileged access to critical systems and sensitive data within organizations. PAM solutions help to prevent unauthorized access, monitor privileged activities and enforce security policies to protect against potential insider threats and external attacks. Privileged accounts are accounts that have privileged permissions and access privileges, often used by system administrators, IT staff, and other privileged users to manage critical systems, networks, and sensitive data. Increasing threat of data breach and the growing need for IoT device management are some of the factors that are boosting the growth of the Privileged Access Management Market.

According to Statista, around 6.5 billion consumer edge-enabled Internet of Things (IoT) devices are anticipated to exist globally by 2030, an increase of more than four billion from the year 2020. As internet usage continues to increase, so does amount of private data made available online. As a result, there are now more hazards for people, businesses, organizations, and governments. According to Statista, the average cost of a data breach in the healthcare industry increased from USD 9.23 million between May 2020 and March 2021 to over USD 10 million between March 2021 and March 2022. The financial sector came in second with a cost per breach of USD 5.97 million on average. During the measurement period, the average cost of a data breach was USD 4.35 million globally. Moreover, rise in digitization and growing adoption of cloud-computing services is expected to create lucrative opportunities for the market growth in the forecast period of 2023-30. However, the lack of awareness about emerging security threats and the high cost of innovation and implementation of software stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Privileged Access Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share because the region has more business and industrial establishment. Due to the region’s expanding self-employment and growing number of business startups, the market for privileged access management (PAM) has is expected to growth further. According to the Global Entrepreneurship Monitor, the start-up rate in the United States was 10.7% in 2020. However, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as growing internet usage, operational digitization, and the rapid growth of digital infrastructure.

Major market player included in this report are:
Centrify Corporation
Hitachi ID Systems, Inc.
Cyberark Software Ltd.
Krontech, Inc.
Silverlake Mastersam
Bomgar Corporation
Lieberman Software
Oracle Corporation
Simeio Solutions
Wallix Group

Recent Developments in the Market:
Ø In January 2023, Simeio, the industry’s top supplier of specialised identity and access management (IAM) services acquired PathMaker Group (PMG), a pioneer in identity management services and solutions with headquarters in Texas.
Ø In June 2022, Amazon Web Services (AWS) launched IoT Device Mangement which helps in the scalability, organisation, registration, and remote management of IoT devices.
Ø In July 2021, Microsoft purchased CloudKnox Security to provide centralised control of cloud entitlements and privileged access.

Global Privileged Access Management Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Solution Type, Application, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Solution Type:

By Application:
Small and Medium-sized Enterprises
Large Enterprises

By End Use:
IT & Telecom
Energy & Utility
Government & Defense
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Privileged Access Management Market, by region, 2020-2030 (USD Billion)
1.2.2. Privileged Access Management Market, by Solution Type, 2020-2030 (USD Billion)
1.2.3. Privileged Access Management Market, by Application, 2020-2030 (USD Billion)
1.2.4. Privileged Access Management Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Privileged Access Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Privileged Access Management Market Dynamics
3.1. Privileged Access Management Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing threat of data breach Growing need for IoT device management
3.1.2. Market Challenges Lack of awareness about emerging security threats High cost of innovation and implementation
3.1.3. Market Opportunities Rise in digitization Growing adoption of IT & Telecoms-computing Services
Chapter 4. Global Privileged Access Management Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Privileged Access Management Market, by Solution Type
5.1. Market Snapshot
5.2. Global Privileged Access Management Market by Solution Type, Performance – Potential Analysis
5.3. Global Privileged Access Management Market Estimates & Forecasts by Solution Type 2020-2030 (USD Billion)
5.4. Privileged Access Management Market, Sub Segment Analysis
5.4.1. Software
5.4.2. Services
Chapter 6. Global Privileged Access Management Market, by Application
6.1. Market Snapshot
6.2. Global Privileged Access Management Market by Application, Performance – Potential Analysis
6.3. Global Privileged Access Management Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Privileged Access Management Market, Sub Segment Analysis
6.4.1. Small and Medium-sized Enterprises
6.4.2. Large Enterprises
Chapter 7. Global Privileged Access Management Market, by End Use
7.1. Market Snapshot
7.2. Global Privileged Access Management Market by End Use, Performance – Potential Analysis
7.3. Global Privileged Access Management Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
7.4. Privileged Access Management Market, Sub Segment Analysis
7.4.1. IT & Telecom
7.4.2. Healthcare
7.4.3. Energy & Utility
7.4.4. Retail
7.4.5. Manufacturing
7.4.6. Government & Defense
7.4.7. Others
Chapter 8. Global Privileged Access Management Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Privileged Access Management Market, Regional Market Snapshot
8.4. North America Privileged Access Management Market
8.4.1. U.S. Privileged Access Management Market Solution Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End Use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Privileged Access Management Market
8.5. Europe Privileged Access Management Market Snapshot
8.5.1. U.K. Privileged Access Management Market
8.5.2. Germany Privileged Access Management Market
8.5.3. France Privileged Access Management Market
8.5.4. Spain Privileged Access Management Market
8.5.5. Italy Privileged Access Management Market
8.5.6. Rest of Europe Privileged Access Management Market
8.6. Asia-Pacific Privileged Access Management Market Snapshot
8.6.1. China Privileged Access Management Market
8.6.2. India Privileged Access Management Market
8.6.3. Japan Privileged Access Management Market
8.6.4. Australia Privileged Access Management Market
8.6.5. South Korea Privileged Access Management Market
8.6.6. Rest of Asia Pacific Privileged Access Management Market
8.7. Latin America Privileged Access Management Market Snapshot
8.7.1. Brazil Privileged Access Management Market
8.7.2. Mexico Privileged Access Management Market
8.8. Middle East & Africa Privileged Access Management Market
8.8.1. Saudi Arabia Privileged Access Management Market
8.8.2. South Africa Privileged Access Management Market
8.8.3. Rest of Middle East & Africa Privileged Access Management Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Centrify Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Hitachi ID Systems, Inc.
9.3.3. Cyberark Software Ltd.
9.3.4. Krontech, Inc.
9.3.5. Silverlake Mastersam
9.3.6. Bomgar Corporation
9.3.7. Lieberman Software
9.3.8. Oracle Corporation
9.3.9. Simeio Privileged Access Management Software
9.3.10. Wallix Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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