Privileged Access Management Market Analysis

Deployment Mode (On-Premises, Cloud)

In privileged access management (PAM) market, cloud segment is poised to dominate around 60% share by the end of 2037.The segment’s growth can be impelled by the rising adoption of cloud services by organizations. By 2022, about five out of ten companies have shifted their operations to the cloud. Given the growth of the cloud computing sector, this tendency is probably going to continue in the years to come.

However, potential cyber threats and access point complexity rise in tandem with cloud usage. Since the cloud is decentralized, several security risks must be addressed, which is why PAM is essential for protecting vital resources. PAM plays a role that goes beyond security as companies’ priorities are digital agility and cloud services. It helps with digital transformation while preserving data integrity, confidentiality, and compliance. PAM's market growth is being driven by the ongoing rise in cloud usage and digital transformation, which highlights the growing importance of PAM in the enterprise security framework.

Offering [Solution (Password Management, Session Management, Access Control, Privileged Identity Management, Compliance & Reporting) Services (Professional, Managed)]

In privileged access management market, solution segment is estimated to account for more than 52% revenue share by the end of 2037. Among this segment, the access control sub-segment is estimated to have the highest growth. This is to ensure it would be more difficult for threat actors to penetrate a network and obtain privileged account access. Privilege access management assists organizations in managing identities. Furthermore, it offers further protection to privileged groups that manage user access to domain-joined PCs and their programs.

In addition, PAM offers visibility, monitoring, and granular restrictions to help detect privileged administrators and track the usage of their accounts. Therefore, it is anticipated that these qualities will fuel the segment's growth

Our in-depth analysis of the global market includes the following segments: