Privileged Identity Management Market - 19.71% CAGR to 2020

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Aug 03, 2016, 06:00 ET

PUNE, India, August 3, 2016 /PRNewswire/ --

The global privileged identity management market 2016-2020 research reports says the growing popularity of SaaS-based PIM solutions will be a key trend for market growth as technological advancements are compelling vendors to offer SaaS-based PIM solutions to their customers. Companies are increasingly adopting these solutions because of various benefits such as the availability of pay-per-use models and the provision of instant access. SaaS-based PIM solutions automatically update the product, thereby enabling it to respond to the latest security threats. The demand for SaaS-based PIM solutions is increasing among companies. The increasing demand has also outpaced the demand for traditional software and service-based PIM solutions.

Complete report on privileged identity management market spread across 59 pages, analyzing 6 major companies and providing 28 data exhibits is now available at http://www.rnrmarketresearch.com/global-privileged-identity-management-market-2016-2020-market-report.html.

The analysts forecast global privileged identity management market to grow at a CAGR of 19.71% during the period 2016-2020. According to the 2016 privileged identity management market report, one of the key drivers for market growth will be the need for enhanced employee productivity. PIM solutions play a major role in enhancing employee productivity, especially with the implementation of single sign-on and federated identities for using multiple applications. These solutions help identify employees and securely grant permission to access data on a need basis. With the implementation of PIM solutions, employees can overcome the difficulty of multiple logins for different business processes. PIM solutions support globally federated identities, enabling employees to easily manage their identity in an organization spread across various locations. These solutions provide seamless access to cloud applications and services through a single sign-on identity solution, reducing operation time.

The demand for privileged identity management (PIM) is spurred by the need to comply with regulatory initiatives. The need to implement PIM processes in organizations starts with a need to address adverse audit findings or with an executive mandate to improve governance, risk management, and compliance posture. The global privileged identity management market was dominated by the Americas with a market share of around 45%. Strict adherence regulations and the high frequency of cyber-attacks in the US coupled with the presence of a large number of prominent financial services organizations in the region are expected to fuel growth in the privileged identity management market in the Americas during the forecast period.

The services segment will account for almost 64% of the overall market revenue to continue its dominance as the key revenue generator in the global privileged identity management market. The growth of privileged identity management market segment is driven by the need for a software update following a new version launch. As the demand for PIM solutions is increasing, services related to its management and maintenance will also increase significantly. As a large number of enterprises and government organizations are adopting PIM solutions, the global PIM services market is expected to grow significantly over the next few years.

The following companies are the key players in the global privileged identity management market: BeyondTrust, CA Technologies, CyberArk, Centrify Corporation, ARCON, and IBM. Other prominent vendors in the market are: BalaBit, Dell, Hitachi ID Systems, MasterSAM, NetIQ, NRI SecureTechnologies, ObserveIT, Thycotic, Wallix, and Xceedium. Order a copy of Global Privileged Identity Management Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=647976.

The report covers the present scenario and the growth prospects of the global privileged identity management market for 2016-2020. To calculate the market size, the report considers the revenue generated from perpetual licensing and services. Global Privileged Identity Management Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Another related report is Global IT Security-as-a-Service Market 2016-2020; the analysts forecast IT security as a service market to grow at a CAGR of 19.1% during the period 2016-2020. A key trend which is boosting market growth is the growing adoption of SMAC technology among workforces. The ubiquity of mobile devices and social networking platforms in the workplace allows employees to function remotely and communicate effectively during an emergency. Increased use of SMAC technology has exposed organizations to data leakage and data breach situations due to authentication misuse. Browse complete report @ http://www.rnrmarketresearch.com/global-it-security-as-a-service-2016-2020-market-report.html .

Explore other new reports on Internet Security & Privacy Market @ http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/software-enterprise-computing/internet-security-privacy.

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