Privileged Access Management Solutions Market to Grow by USD 4.28 Bn| Evolving Opportunities with Broadcom Inc. and Centrify Corp. | Technavio
NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The privileged access management (PAM) solutions market size is expected to grow by USD 4.28 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 22.81%.
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Read the 120-page report with TOC on "Privileged Access Management Solutions Market Analysis Report by Deployment (on-premise and cloud-based) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts,2022-2026".
The PAM solutions market is attributed to the need for multi-factor authentication (MFA) for privileged accounts and the increasing frequency of insider threats. However, factors such as system integration and interoperability issues may challenge the growth of the PAM solutions market during the forecast period.
Major Five PAM Solutions Companies and Their Offerings:
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Privileged Access Management Solutions Market Deployment Outlook (Revenue, USD bn, 2021-2026)
By deployment, the on-premise segment is expected to have significant market share growth during the forecast period. Customization and higher data security offered in the on-premises deployment model are some of the factors responsible for the growth of the market. Currently, many large enterprises are giving prominence to on-premises PAM solutions, as these solutions receive a high level of protection with their implementation.
Privileged Access Management Solutions Market Geography Outlook (Revenue, USD bn, 2021-2026)
By geography, North America will dominate the PAM solutions market during the forecast period. The region will account for a 32% share of the market's growth. The US is a key country for the PAM solutions market in North America. Moreover, market growth in this region will be faster than the growth of the market in MEA and South America. The enforcement of government standards and regulations because of the increasing number of hosted server attacks and cyberattacks will drive the PAM solutions market growth in North America during the forecast period.
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