Privileged Identity Management (PIM) is a solution to control or manage critical, private accounts in an enterprise’s IT infrastructure. PIM ensures safety and smooth functioning of the accounts with higher permission. In various organizations, a certain number of privileged accounts enjoy superiority in accession to critical files and assets, where security is a major concern. Such organizations deploy PIM for managing and controlling the accounts. PIM is also used to train higher authorities for managing accounts, assets, and files.

One of the major factors contributing to the growth of the global PIM market includes the growing adoption of cloud-based services in various organizations in order to increase the operational efficiency of the organization. Cloud service-based operations enable organizations to reduce access time and support the authoritative team to improve organizational structure. Further, the factors such as the potential risk of cyber hacks to the critical assets, the government’s regulatory compliances regarding data security, and growing demand to increase operational efficiency are also boosting the global PIM market. Growing risk of cyber-attack is one of the important factors to deploy multi-factor authentication for higher permission accounts in organizations. However, high capital investment and poor understanding of PIM solution are hampering the market substantially. Due to poor understanding of PIM, extra training sessions are required which results in engagement of capital and workforce. Thus, generates challenges for an organization and restraint the growth of the global PIM market.

Additionally, global PIM market is estimated to create a number of opportunities during the forecast period due to the emergence of artificial intelligence-based PIM solutions which would enable to integrate smart operations while maintaining the security of the critical assets. Global PIM market is analyzed on the basis of the type of solutions, end-user, and geography. On the basis of the solution, the market is analyzed into identity management, access management, and session monitoring and management. Identity management holds a substantial share in the global PIM market due to the higher deployment of identity management solution in the organizations as compared to other segments. The factor attributing to the higher adoption of identity management is a common requirement of organizations to control identity management. On the basis of end-user, the global PIM market is segmented into telecom and IT, BFSI, aerospace and defense, healthcare, and others.

Geographically, North America is dominating the global PIM market due to the presence of major market players in the US. Moreover, a better understanding of PIM solution in the region is growing the rate of adoption of PIM solutions in various organizations. Europe is estimated to hold a significant market share due to stringent government regulations for data security and anti-cyber-attack policies. Asia-Pacific is estimated to grow with a considerable rate during the forecast period. The factor contributing to the growth in the Asia-Pacific includes growing ICT industry and the potential threat from cyber-attacks.

Some of the players operating in the market include Hitachi ID Systems, Inc., IBM Corp., Centrify Corp., CyberArk Software Ltd., Thycotic Software LLC, Oracle Corp., ARCON TechSolutions Pvt. Ltd., Micro Focus International plc, and others. These market players are contributing to the market by adopting various market approaches such as product launch & approvals, merger & acquisition, partnerships collaborations, and others for gaining a strong position in the market. For instance, in November 2016, launched CA Threat Analytics for PAM that added behavioral analytics to its privileged access management offering. In addition, it added new controls to step up authentication, recording or alerting if an anomaly or threat is detected. With this, the company has boosted its security portfolio and enhanced its privileged access management and identity and access management portfolios.

Research Methodology:

The market study of the global privileged identity management market is incorporated by extensive primary and secondary research conducted by a research team at OMR.  Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers and news blogs
• Company websites and their End-user catalog.

The report is intended for ICT companies, research institutes, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

Market Segmentation:

1. Global privileged identity management Market Research and Analysis by solution
2. Global privileged identity management Market Research and Analysis by End-User

The Report Covers:

• Comprehensive research methodology of the global privileged identity management
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global privileged identity management market.
• Insights about market determinants which are stimulating the global privileged identity management market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.