Regulatory compliance is enforced by several governments across the globe to ensure that business organizations follow and meet the standards applied to protect the sensitive information of consumers. For instance, the implementation of PAM solutions ensures compliance with GDPR and ISO/IEC 27001:2013 regulations. Some of these regulations include reinforcing the access to critical data, providing administrators with complete visibility over user actions, and helping define and enforce thorough security policies, records, and log activities of internal and external parties.
MARKET SCOPE
The "Global Privileged Access Management (PAM) Solution Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the Privileged Access Management (PAM) solution market with detailed market segmentation by component, deployment type, enterprise size, industry, and geography. The report provides key statistics on the market status of the leading Privileged Access Management (PAM) solution market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global Privileged Access Management (PAM) solution market is segmented into software and services.
- On the basis of deployment type, the market is segmented into on-premise and cloud.
- Based on enterprise size, the market is segmented into small and medium enterprises and large enterprises.
- Based on industry, the market is segmented into BFSI, government, healthcare, retail, IT and telecom, and others.
MARKET DYNAMICS
Drivers:
- The rising adoption due to government regulatory policies is expected to drive the global privileged access management solutions market during the forecast period. With the increase in the number of internet users across the globe, there has been rapid growth in the number of cybercrimes in recent years.
- Additionally, the increasing number of smartphone owners and the availability of affordable mobile internet services have increased the number of unethical practices.
Restraints:
- Lack of awareness may hinder the growth of the global Privileged Access Management (PAM) solution market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Privileged Access Management (PAM) solution market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Privileged Access Management (PAM) solution market in these regions.
IMPACT OF COVID-19 ON PRIVILEGED ACCESS MANAGEMENT (PAM) SOLUTION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the Privileged Access Management (PAM) solution market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from Privileged Access Management (PAM) solution market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Privileged Access Management (PAM) solution market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Arcon
- BeyondTrust Corporation
- Broadcom
- Centrify Corporation
- CyberArk Software Ltd.
- Devolutions
- Iraje
- Thycotic
- Wallix
- Zoho Corp.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.