Privileged Access Management Solutions Market Report 2025 (Global Edition)

Global Privileged Access Management Solutions Market Report 2025 Market Size Split by Offering (Solution, Service), by Deployment Mode (On-Premises, Cloud), by Vertical (BFSI, Government, IT & Telecom...

Privileged Access Management Solutions Market Report Description

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Privileged Access Management Solutions Market Insights Video

Competitive Landscape of the Privileged Access Management Solutions Market

In the Privileged Access Management Solutions market's competitive landscape, numerous key competitors are driving innovation and growth. One key strategy that manufacturers in the Privileged Access Management (PAM) solutions industry use to expand their market presence and enhance customer benefits is local manufacturing, which helps to reduce operational costs. In recent years, the PAM solutions industry has delivered significant benefits. Major players in the market are focusing on boosting demand by making substantial investments in research and development.

In March 2023, FortiPAM launched a privileged remote access management solution designed for operational technology (OT) ecosystems and critical assets. This new offering integrates with a range of Fortinet products to deliver single sign-on, multi-factor authentication, and zero trust network access. (Source: https://www.fortinet.com/corporate/about-us/newsroom/press-releases/2023/fortinet-introduces-specialized-cybersecurity-products-services-for-ot-environments )

Top Companies Market Share in Privileged Access Management Solutions Industry: (In no particular order of Rank)

• Fortinet (US)
• Beyond Trust (US)
• CyberArk (US)
• Broadcom (US)
• Imprivata (US)
• Optiv Security (US)
• Okta (US)
• IBM (US)
• Micro Focus (OpenText) (UK)
• ManageEngine (Zoho) (US)
• Hashi Corporation (US)
• One Identity (US)
• ARCON (India)
• Netwrix (US)
• Delinea (US)
• Wallix (France)
• Saviynt (US)
• Senhasegura (Brazil)
• KronTech (Turkey)
• miniOrange (US)
• EmpowerID (US)
• StrongDM (US)
• CyberSolve (US)
• Opal Security (US)
• Foxpass (US)
• Secureden (US)
• RevBits (US)
• Silverfort (Israel)
• IDM Technologies (UAE)
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Privileged Access Management Solutions Market

Which Region Dominates the Privileged Access Management Solutions Market in 2024?

According to Cognitive Market Research, North America currently dominates the Privileged Access Management solutions market, and the region is expected to have significant growth during the projected period. The move towards cloud-based services and digital transformation has broadened the attack surface for organizations. In Canada, companies allocate 29% of their IT budgets to cloud computing, with 92% of Canadian businesses utilizing some form of cloud services. As organizations embrace multiple cloud platforms, there is an increasing demand for Privileged Access Management (PAM) solutions. These solutions are essential for managing and securing privileged access across various cloud environments and hybrid IT infrastructures, providing seamless integration and robust access control in the cloud.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia-Pacific region is experiencing a sharp rise in cyberattacks, including ransomware, phishing, and insider threats. In 2022, the Indian Computer Emergency Response Team (Cert-In) managed 1,391,457 cybersecurity incidents. According to the Cert-In, 2022 Annual Report, there were 653 security alerts, 38 advisories, and 488 vulnerability notes issued. The report highlighted a significant increase in certain types of cyberattacks over the past two years. Specifically, phishing attacks surged by 230%, malware attacks rose by 45%, and incidents involving vulnerable services increased by 20% compared to 2021. Phishing attacks alone tripled from 523 in 2021 to 1,714 in 2022. Vulnerable service incidents climbed from 728,276 in 2021 to 875,892 in 2022, while malware attacks grew from 1,489 in 2021 to 2,164 in 2022. These high-profile breaches and escalating incidents across various sectors highlight the critical need to secure privileged accounts, driving the demand for PAM solutions. As cyber criminals in the region adopt more sophisticated tactics, traditional security measures are proving inadequate, underscoring the necessity of advanced PAM solutions to address these evolving threats.

The current report Scope analyzes Privileged Access Management Solutions Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Privileged Access Management Solutions Market

According to Cognitive Market Research, the global Privileged Access Management Solutions market size was estimated at USD 3214.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 1285.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Privileged Access Management Solutions market with a market size of USD 1014.4 million in 2024 and is projected to grow at a CAGR of 20.5% during the forecast period. In the US, the demand for Privileged Access Management Solutions is driven by the high frequency of sophisticated cyberattacks, and stringent regulatory requirements.
• The Canada Privileged Access Management Solutions market had a market share of USD 154.2 million in 2024 and is projected to grow at a CAGR of 21.5% during the forecast period. In Canada, the demand for the Privileged Access Management Solutions market is driven by the rapid adoption of cloud services and digital transformation initiatives.
• The Mexico Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 117.0 million in 2024.

Europe Privileged Access Management Solutions Market

According to Cognitive Market Research, the global Privileged Access Management Solutions market size was estimated at USD 3214.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 964.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.0% from 2024 to 2031.

• The United Kingdom Privileged Access Management Solutions market had a market share of USD 162.0 million in 2024 and is projected to grow at a CAGR of 21.8% during the forecast period. In the UK, Privileged Access Management Solutions sales witness an upswing due to the stringent data protection regulations such as the GDPR, and the growing need for robust security measures to protect sensitive information in a rapidly evolving digital landscape.
• The France Privileged Access Management Solutions market is projected to witness growth at a CAGR of 20.2% during the forecast period, with a market size of USD 88.71 million in 2024.
• According to Cognitive Market Research, the German Privileged Access Management Solutions market size was valued at USD 190.92 million in 2024 and is projected to grow at a CAGR of 21.2% during the forecast period. In Germany, Privileged Access Management solutions surged due to the growing concerns over cyber threats such as ransomware and insider attacks.
• The Italy Privileged Access Management Solutions market is projected to witness growth at a CAGR of 20.4% during the forecast period, with a market size of USD 82.93 million in 2024.
• The Russia Privileged Access Management Solutions market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD 149.46 million in 2024.
• The Spain Privileged Access Management Solutions market is projected to witness growth at a CAGR of 20.1% during the forecast period with a market size of USD 79.07 million in 2024
• The Luxembourg Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.1% during the forecast period, with a market size of USD 29.89 million in 2024.
• The Portugal Privileged Access Management Solutions market is projected to witness growth at a CAGR of 20.8% during the forecast period, with a market size of USD 20.25 million in 2024.
• The Greece Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 11.57 million in 2024.
• The Rest of Europe's Privileged Access Management Solutions market is projected to witness growth at a CAGR of 19.7% during the forecast period, with a market size of USD 149.46 million in 2024.

Asia Pacific Privileged Access Management Solutions Market

According to Cognitive Market Research, the global Privileged Access Management Solutions market size was estimated at USD 3214.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 739.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Privileged Access Management Solutions market size was valued at USD 332.6 million in 2024 and is projected to grow at a CAGR of 24.0% during the forecast period. In China, the demand for the Privileged Access Management Solutions market is driven by the shift towards cloud-based infrastructure, and stringent regulatory requirements for data protection.
• The Japan Privileged Access Management Solutions market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 102.02 million in 2024.
• The India Privileged Access Management Solutions market had a market share of USD 88.71 million in 2024 and is projected to grow at a CAGR of 26.3% during the forecast period. India's rapid growth of the IT and telecom sectors, and increasing digital transformation initiatives, driving the market.
• The South Korean Privileged Access Management Solutions market is projected to witness growth at a CAGR of 23.6% during the forecast period, with a market size of USD 73.93 million in 2024.
• The Australian Privileged Access Management Solutions market is projected to witness growth at a CAGR of 24.2% during the forecast period, with a market size of USD 38.44 million in 2024.
• The South East Asia Privileged Access Management Solutions market is projected to witness growth at a CAGR of 25.5% during the forecast period, with a market size of USD 51.01 million in 2024.
• The Rest of Asia Pacific Privileged Access Management Solutions market is projected to witness growth at a CAGR of 24.3% during the forecast period, with a market size of USD 52.49 million in 2024.

South America Privileged Access Management Solutions Market

According to Cognitive Market Research, the global Privileged Access Management Solutions market size was estimated at USD 3214.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 160.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Privileged Access Management Solutions market size was valued at USD 68.78 million in 2024 and is projected to grow at a CAGR of 22.5% during the forecast period. In Brazil, the demand for the Privileged Access Management Solutions market is driven by the increased adoption of cloud services, and the expanding IT market.
• Argentina's Privileged Access Management Solutions market had a market share of USD 27.0 million in 2024 and is projected to grow at a CAGR of 22.8% during the forecast period. In Argentina, the demand for the Privileged Access Management Solutions market is driven by growing cybersecurity concerns and a rise in remote work models.
• Colombia's Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.7% during the forecast period, with a market size of USD 14.30 million in 2024.
• Peru's Privileged Access Management Solutions market is projected to witness growth at a CAGR of 22.1% during the forecast period, with a market size of USD 13.18 million in 2024.
• Chile's Privileged Access Management Solutions market is projected to witness growth at a CAGR of 22.2% during the forecast period, with a market size of USD 11.57 million in 2024.
• The Rest of Latin America's Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.0% during the forecast period, with a market size of USD 25.87 million in 2024.

Middle East Privileged Access Management Solutions Market

According to Cognitive Market Research, the global Privileged Access Management Solutions market size was estimated at USD 3214.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 64.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.2% from 2024 to 2031.

• The GCC Countries Privileged Access Management Solutions market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 27.51 million in 2024. Privileged Access Management Solutions sales flourish due to a surge in FinTech investments and digital financial services.
• The Egypt Privileged Access Management Solutions market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 6.75 million in 2024.
• The South Africa Privileged Access Management Solutions market is projected to witness growth at a CAGR of 23.2% during the forecast period, with a market size of USD 10.16 million in 2024. In South Africa, the demand for the Privileged Access Management Solutions Market is driven by the expansion of e-commerce and online services, accelerated by the COVID-19 pandemic.
• The Turkey Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.7% during the forecast period, with a market size of USD 5.53 million in 2024.
• The Nigeria Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 6.75 million in 2024.
• The Rest of the MEA Privileged Access Management Solutions market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 7.59 million in 2024.

Privileged Access Management Solutions Market Analysis

How are Segments Performing in the Global Privileged Access Management Solutions Market?

Privileged Access Management Solutions Market Offering Segment Analysis

According to Cognitive Market Research, the Solution is likely to dominate the Privileged Access Management Solutions Market over the forecast period. Organizations are increasingly adopting complex IT environments that include on-premises systems, cloud platforms, and hybrid configurations. Managing privileged access across these diverse environments requires comprehensive PAM solutions with advanced features to ensure security and compliance. The growing complexity of IT systems drives the demand for PAM solutions that offer seamless integration with various applications, systems, and platforms, providing unified management of privileged access.

Service is the fastest-growing segment in the Privileged Access Management Solutions Market. Many organizations lack the in-house expertise and resources required to manage and implement advanced PAM solutions effectively. Managed services offer specialized expertise and operational support, making them highly attractive for organizations seeking to leverage PAM solutions without dedicating extensive internal resources. Managed services provide organizations with the benefit of ongoing support, maintenance, and management, ensuring that PAM systems operate smoothly and efficiently while allowing internal IT teams to focus on other strategic tasks.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Privileged Access Management Solutions Industry. Request a Free Sample PDF!

Privileged Access Management Solutions Market Deployment Mode Segment Analysis

According to Cognitive Market Research, the Cloud segment holds the largest share of the market. As cloud usage increases, so does the complexity of potential cyber threats and access points. The decentralized nature of cloud environments introduces several security risks, making Privileged Access Management (PAM) crucial for safeguarding critical resources. Beyond its core security functions, PAM supports digital agility and cloud services, playing a vital role in digital transformation. It ensures the preservation of data integrity, confidentiality, and compliance. The continued expansion of cloud adoption and digital transformation is driving PAM's market growth, underscoring its growing significance in the enterprise security framework.

In the Privileged Access Management Solutions Market, On-Premises have been expanding at a rapid pace. Organizations that prefer on-premises deployment value the direct control it provides over their IT infrastructure. This includes the ability to customize and configure PAM solutions to meet specific security requirements and operational needs. For organizations handling highly sensitive data or operating in regulated industries, on-premises deployments offer a higher level of control over data security and privacy. This can be critical for compliance with strict data protection regulations.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Privileged Access Management Solutions Vertical Segment Analysis

Privileged Access Management Solutions Market Vertical Segment Analysis

According to Cognitive Market Research, The IT & Telecom segment holds the largest market share. IT and telecommunications companies manage vast amounts of sensitive data and critical infrastructure, making them prime targets for cyberattacks. The increasing sophistication and frequency of attacks, including ransomware, phishing, and insider threats, necessitate robust PAM solutions to safeguard privileged accounts and prevent unauthorized access. High-profile data breaches within the IT and telecom sectors have underscored the need for stringent access controls and monitoring to protect against potential data leaks and system compromises.

In the Privileged Access Management Solutions market, the rapidly growing sector is the BFSI category. The BFSI sector is subject to stringent regulatory requirements such as the General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS), Sarbanes-Oxley Act (SOX), and various national regulations. PAM solutions help organizations comply with these regulations by enforcing access controls, maintaining audit trails, and ensuring data protection. The rise of digital banking and online financial services has expanded the attack surface for BFSI organizations. PAM solutions are essential for securing privileged access to digital platforms, ensuring that sensitive customer data and financial transactions are protected.

• BFSI
• Government
• IT & Telecom
• Healthcare
• Telecommunications
• Manufacturing
• Energy & Utilities
• Retail & E-commerce

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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