Privileged Access Management (PAM) Solutions Market Growth Forecast 2020-2027
Privileged Access Management Solutions Market Scenario:
According to Market Research Future analysis, the global privileged access management (PAM) solutions market was valued at USD 1689.72 million in 2021; it is expected to reach USD 12,067.50 Million by 2027, recording a CAGR of 32.67% during the forecast period, 2020–2026. PAM solutions are adopted in an enterprise to prevent a breach and limit the damage that occurred in case of any breach occurs. PAM solutions ensure that the organization has a secure, efficient, and compliant way to provide access and monitor privileged accounts.
The COVID-19 pandemic disruption is estimated to transform the Privileged Access Management Solutions Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Privileged Access Management Solutions Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
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Competitive Outlook:
Some of the Prominent Players in the Global Privileged Access Management (PAM) Solutions Market are CA Technologies, Wallix, CyberArk, Centrify, ManageEngine, ARCON, Hitachi ID Systems, Beyond Trust, Thycotic, Devolutions, and One Identity LLC.
Segmentation:
Global Privileged Access Management (PAM) Solutions Market has been segmented based on Type, Application, and Region.
Based on type, the global privileged access management (PAM) solutions market has been segmented into software, physical appliance, and virtual appliance. Among these, in 2019, the software segment accounted for the largest market share of 41.12%, with a market value of USD 694.77 million. The virtual appliance segment is projected to record the highest CAGR of 34.90% during the forecast period.
Based on application, the privileged access management (PAM) solutions market has been segmented into Windows, Unix & Linux, Mac OS, and infrastructure devices and IoT. Among these, in 2019, the Windows segment accounted for the largest market share of 37.57%. The infrastructure devices and IoT segment are projected to register the highest CAGR of 34.89% during the forecast period.
Regional Analysis:
MRFR analysis offers a comprehensive understanding of the market dynamics. The global privileged access management (PAM) solutions market has been analyzed across key geographies, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is the leading economy in the privileged access management (PAM) solutions market, followed by Europe. However, Asia-Pacific is the fastest-growing economy in the global market due to the growing number of SMEs and the high focus of enterprises on boosting the security for accessing sensitive information. The Middle East & Africa and South America are witnessing steady growth in the privileged access management (PAM) solutions market; however, these regions have very few country-level markets for cloud-based infrastructure.
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