Jun 30, 2020 (SUPER MARKET RESEARCH via COMTEX) -- According to IMARC Group's latest report, titled "Privileged Identity Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,". Looking forward, IMARC Group expects the global privileged identity management (PIM) market to continue its double-digit growth during the next five years.
Privileged identity management (PIM) is an information security and governance tool to help organizations prevent data breaches from privileged accounts. It also monitors privileged user sessions, manages credentials of the shared accounts, and secures remote access over devices. PIM enables a secured password management solution to manage administrative operations in a database. It centrally handles and reviews privileged access credentials across platforms, allowing the organizations to monitor in- and out-premise threats. As a result, PIM is extensively used across various industries, including BFSI, defense, healthcare, manufacturing, IT, and telecommunications.
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Rapid developments in the IT industry, along with increasing incidences of cyberattacks and data theft, are propagating the demand for PIM systems. These services are widely used across organizations to minimize access time and enable the teams to install multi-factor authentication systems. Furthermore, the elevating adoption of cloud-based services to maximize operational efficiencies is also propelling the market growth. The development of Software-as-a-Service (SaaS)-based PIM solutions that provide a pay-per-model, automated updates, and immediate access to users further escalates the global market. Moreover, the growing adoption of artificial intelligence (AI)-based PIM solutions and the rising trend of bring-your-own-devices (BYOD) in organizations, are also anticipated to drive the PIM market.
Privileged Identity Management Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the market on the basis of component type, installation type, deployment, organization size, vertical and region.
Breakup by Component Type:
Breakup by Installation Type:
Breakup by Deployment Mode:
Breakup by Organization Size: