Privileged Access Management Industry - Regional Synopsis
North America Market Statistics
North America privileged access management market is likely to hold the largest revenue share of 35% by 2037. The region is observing a surge in mobile penetration, boosting the adoption of mobile services. Organizations across industries, including finance, healthcare, and government, are prioritizing PAM solutions to secure critical assets and ensure compliance with data protection laws. Strong investments in cybersecurity in the region are also boosting the privileged access management market growth.
The focus of AI-powered threat detection in the U.S., just-in-time access controls, in addition to the rapid adoption of cloud and SaaS-based solutions, is shaping market trends. According to International Data Corporation (IDC), in 2021, the SaaS applications segment was the largest of all cloud market segments, measuring USD178 billion, increasing 24% from 2020. Additionally, compliance mandates and the adoption of remote work are also pushing businesses in the country to include SaaS-based PAM.
Europe Market Analysis
Europe is estimated to register huge growth for the privileged access management market during the projected period and will hold the second position owing to the rising number of small & medium enterprises. According to the Annual Report by the European Commission, 2022-2023, SMEs constituted the backbone of the EU-27 economy, accounting for 99.88% of all firms in the Union in 2022. It is easier for scammers to target small and medium-sized businesses with methods including phishing and ransomware. PAM prevents incidents and safeguards these organizations from harmful attacks, resulting in market expansion.
The privileged access management market in France is growing due to increasing cybersecurity regulations, digital transformation, and the rise of cloud-based infrastructures. The market is further driven by strict data protection laws, encouraging enterprises to implement zero-trust security models and AI-powered access controls. Additionally, collaborations between cybersecurity firms and regulatory bodies are fostering innovation and compliance, further accelerating PAM adoption in the country.
