Privileged Access Management Segmentation
Deployment Mode (On-Premises, Cloud)
In privileged access management market deployment mode, the cloud segment is poised to dominate around 60% share by the end of 2037. The segment’s growth is impelled by the rising adoption of cloud services by organizations. The International Data Corporation (IDC) has stated in December 2023 that India’s overall public cloud services market is estimated to reach USD 17.8 billion by 2027, increasing at a CAGR of 22.9% between 2022 and 2027. However, potential cyber threats and access point complexity rise in tandem with cloud usage. PAM plays a role that goes beyond security, as companies’ priorities are digital agility and cloud services. This ongoing rise in cloud usage and digital transformation 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 offering, the solution segment is estimated to account for more than 52% revenue share by the end of 2037, driven by the increasing need for robust security frameworks to protect privileged credentials. Growing concerns over insider threats are pushing enterprises to invest in advanced PAM solutions over standalone services. Comprehensive PAM platforms are gaining traction owing to features including session monitoring, JIT access, and password vaulting to combat the cyber threats. In June 2022, CyberArk launched CyberArk Endpoint Privilege Manager functionality that extends protection and implements introductory JIT security controls to Linux platforms.
Our in-depth analysis of the global privileged access management market includes the following segments:
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