Robust growth in APAC region is expected to drive the Privileged identity management Market at a CAGR of 33.6%
Latest market study on “Privileged Identity Management Market to 2027 – Global Analysis and Forecasts by Component (Solution and Services), Deployment (On-premise and Cloud), and End-user (IT & Telecom, Government, BFSI, Healthcare & Pharmaceutical, Manufacturing, and Others), and Geography”. The global privileged identity management market accounted to US$ 1,496.6 Mn in 2018 and is expected to grow at a CAGR of 30.8 % during the forecast period 2019 – 2027, to account to US$ 16,331.6 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Government of various countries is taking initiatives for the implementation of regulations for data protection and privacy. For instance, the European Union introduced GDPR was introduced to improve the protection of European data rights and also standardize the process of safeguarding these rights. However, GDPR is not the sole data privacy regulation that the internationally operating organizations need to obligate by. There are various data privacy regulations that have emerged as a result of GDPR. For instance, the California Consumer Privacy Act (CCPA) of 2018, the policy was similar to that of EU - GDPR and was passed in September, 2018. Although the changes are anticipated to take place before its enactment in the year 2020. Having such a dynamic regulatory landscape, the organizations are avidly looking for tools and solutions that would enable them to assess their readiness for the upcoming norms and regulations.
The vendors catering to the needs of the businesses across the globe are therefore focusing upon developing the tools that would allow the companies to assess their compliance. In the coming years, the jurisdictions across the globe are expected to create new requirements for data protection and companies would raise their demand to leverage a comprehensive, mature compliance solution that would integrate with existing security, IT and marketing investments. This is expected to positively impact the privileged identity management market growth in the coming years.
Some of the key players included in the global privileged identity management market are Amazon Web Services, Artificial Solutions, Centrify, BeyondTrust Corporation, Cyberark, and One Identity LLC among others.
Privileged identity management, Global Breakdown by Regions, 2018-2027 (%)
Privileged Identity Management Market to 2027 - Global Analysis and Forecasts by Component (Solution and Services), Deployment (On-premise and Cloud), and End-user (IT & Telecom, Government, BFSI, Healthcare & Pharmaceutical, Manufacturing, and Others)
Privileged Identity Management Market to Emerge with 13.2 % of CAGR by 2027
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Source: The Insight Partners Analysis, April, 2019
The report segments the global privileged identity management market as follows:
Global Privileged Identity Management Market - By Component
- Solution
- Services
Global Privileged Identity Management Market - By Deployment
- On-premise
- Cloud
Global Privileged Identity Management Market - By End-user
- IT & Telecom
- Government
- BFSI
- Healthcare & Pharmaceutical
- Manufacturing
- Others
Global Privileged identity management Market – By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Russia
- U.K
- Rest of Europe
- Asia Pacific (APAC)
- Japan
- South Korea
- China
- Australia
- India
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
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