Privileged Identity Management Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71578
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The privileged identity management (PIM) market share is expected to increase by USD 2.41 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 22.80%.

This privileged identity management market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers privileged identity management market segmentation by end-user (large enterprises, government organizations, and SMEs) and geography (North America, Europe, APAC, MEA, and South America). The privileged identity management market report also offers information on several market vendors, including Arcon, BeyondTrust Corp., Broadcom Inc., Centrify Corp., CyberArk Software Ltd., Dell Technologies Inc., Hitachi Ltd., International Business Machines Corp., Nomura Research Institute Ltd., and Wallix Group SA  among others.

What will the Privileged Identity Management Market Size be During the Forecast Period?

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Privileged Identity Management Market: Key Drivers and Challenges

The increasing frequency of insider threats is notably driving the PIM market growth, although factors such as PIM affecting the convenience of end-users may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the privileged identity management industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Privileged Identity Management Market Driver

One of the key factors driving growth in the privileged identity management market is the increasing frequency of insider threats. Enterprises face issues where unauthorized employees may have access to critical applications or systems. A major reason for this is privileged account users sharing their privileged identity, such as administrative account, with another person. This can pose a serious threat to enterprises. Traditional approaches, such as security information and event management (SIEMs) solutions, are not enough for security teams to collect sufficient data to protect information from potential insider threats. Enterprises require advanced user activity monitoring solutions to monitor privileged user activity. PIM vendors help in monitoring user activity and tracking unauthorized access to critical assets in enterprises. This is expected to increase the adoption of PIM among enterprises, thus driving the market during the forecast period.

Key Privileged Identity Management Market Challenge

The PIM affecting the convenience of end-users will be a major challenge for the privileged identity management market during the forecast period. Password-based security is one of the most common forms of authentication. However, it is the worst security measure because it is the most vulnerable to cyberattacks. Thus, vendors provide additional layers of authentication to increase the security of privileged accounts in enterprises. This is an in-depth approach to securing and managing privileged accounts. PIM helps enterprises ensure that each security layer covers the gaps that other defenses may lack. However, additional layers of security can be frustrating for end-users as it makes it more difficult for them to access privileged accounts. A privileged account user may have to pass through various authentication processes, which may not be convenient. This, in turn, reduces operational efficiency and productivity. Thus, end-users are not comfortable adopting this solution, which poses a challenge for vendors.

This privileged identity management market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Privileged Identity Management Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Arcon
  • BeyondTrust Corp.
  • Broadcom Inc.
  • Centrify Corp.
  • CyberArk Software Ltd.
  • Dell Technologies Inc.
  • Hitachi Ltd.
  • International Business Machines Corp.
  • Nomura Research Institute Ltd. 
  • Wallix Group SA 

 

This statistical study of the privileged identity management market encompasses successful business strategies deployed by the key vendors. The PIM market is fragmented and the vendors are deploying growth strategies such as focusing on innovations in technology to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The privileged identity management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Privileged Identity Management Market?

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32% of the market’s growth will originate from Europe during the forecast period. The UK and Germany are the key markets for privileged identity management in Europe. Market growth in this region will be faster than the growth of the market in the North American, MEA, and South American regions.

An increasing number of enterprises are planning to close data security holes, reduce cybersecurity risks, and meet regulatory compliance mandates by using PIM solutions. This will facilitate the privileged identity management market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Privileged Identity Management Market?

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The privileged identity management market share growth by the large enterprises segment will be significant during the forecast period. The adoption of PIM by enterprises is expected to increase because of its benefits such as performance, affordability, security, enterprise-class scalability, and easy management of shared sensitive information, including documents, passwords, and digital identities. The growing adoption of BYOD and increasing threat to data security are compelling large enterprises to adopt PIM solutions. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the PIM market size and actionable market insights on post COVID-19 impact on each segment.

 

Privileged Identity Management Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 22.80%

Market growth 2021-2025

$ 2.41 billion

Market structure

Fragmented

YoY growth (%)

21.98

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

Europe at 32%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Arcon, BeyondTrust Corp., Broadcom Inc., Centrify Corp., CyberArk Software Ltd., Dell Technologies Inc., Hitachi Ltd., International Business Machines Corp., Nomura Research Institute Ltd., and Wallix Group SA 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Privileged Identity Management Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive privileged identity management market growth during the next five years
  • Precise estimation of the privileged identity management market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the PIM industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of PIM market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Large enterprises - Market size and forecast 2020-2025
  • Government organizations - Market size and forecast 2020-2025
  • SMEs - Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Arcon
  • BeyondTrust Corp.
  • Broadcom Inc.
  • Centrify Corp.
  • CyberArk Software Ltd.
  • Dell Technologies Inc.
  • Hitachi Ltd.
  • International Business Machines Corp.
  • Nomura Research Institute Ltd. 
  • Wallix Group SA 

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The privileged identity management market growth will increase by $2414.02 million during 2020-2025.
The privileged identity management market is expected to grow at a CAGR of 22.80% during 2020-2025.
Technavio has segmented the privileged identity management market by end user (Large enterprises, Government organizations, and SMEs) and geographic (North America, Europe, APAC, MEA, and South America).
Arcon, BeyondTrust Corp., Broadcom Inc., Centrify Corp., CyberArk Software Ltd., Dell Technologies Inc., Hitachi Ltd., International Business Machines Corp., Nomura Research Institute Ltd. , Wallix Group SA  are a few of the key vendors in the privileged identity management market.
Europe will register the highest growth rate of 32.19% among the other regions. Therefore, the privileged identity management market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the privileged identity management market growth are:
  • Increasing frequency of insider threats
The privileged identity management market vendors should focus on grabbing business opportunities from the large enterprises segment as it accounted for the largest market share in the base year.
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