Global Privileged Access Management Market Size, Forecast, and Trend Highlights Over 2025-2037
Privileged Access Management Market size was over USD 3.49 billion in 2024 and is projected to cross USD 42.96 billion by the end of 2037, growing at more than 21.3% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of privileged access management is evaluated at USD 4.08 billion.
According to the Department for Science, Innovation, and Technology UK, Cyber Security Breaches Survey 2024, published in April 2024, 50% of businesses and 32% of charities reported having experienced some form of cyber security breach or attack between April 2023 to April 2024. 70% of medium businesses, 74% of large businesses, and 66% of high-income charities with USD 540,067 or more in annual income encountered similar threats. It further states that phishing is the most common type of breach or attack. PAM solutions help mitigate these risks with stronger defenses against credential-based attacks, in addition to the prevention of unauthorised access to critical systems.
The increasing focus on regulatory compliance and data protection is a key driver in the global privileged access management market. PAM solutions help organizations meet compliance mandates. As industries such as finance, healthcare, and government face stricter security requirements, the demand for PAM solutions continues to rise. In October 2023, Teleport launched Teleport Identity Governance and Security, which reduces response time for attacks by mapping every access point and identity in an enterprise's infrastructure.
