Privileged Access Management Market is expected to experience significant growth in the coming years due to the increasing adoption of cloud-based solutions by organizations to secure critical data and assets. Additionally, the rising number of cyber-attacks and data breaches has highlighted the importance of implementing robust privileged access management solutions to protect sensitive information. Furthermore, regulatory compliance requirements mandating the implementation of privileged access management solutions are driving the market growth.
Industry
Report Coverage | Details |
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Segments Covered | Offering, Deployment Model, Enterprise Size, Industry Vertical |
Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
Company Profiled | Arcon, Balabit, Beyondtrust,, CA,, Centrify, Cyberark Software., Fortinet, Hashi, Hitachi ID Systems, IBM, Imprivata, Iraje Software, Krontech,, OKTA, Open Text, Optiv Security SailPoint, SSH Communications Security, Thycotic, Wallix |
The high implementation cost associated with privileged access management solutions is a major restraint hindering market growth. Many organizations, especially small and medium-sized enterprises, are reluctant to invest in expensive solutions, thereby limiting market growth. Additionally, the complexity of privileged access management solutions and the lack of skilled professionals to implement and manage them are posing challenges for market expansion.