During the projection period, the market for privileged identity management would expand at a CAGR of. Increased awareness of insider incidents involving data theft is a key driver propelling the market for privileged identity management. The growth in government monitoring agreements is one of the key factors driving the privileged identity management industry. Other significant factors include the adoption of identity management best practices, the danger of insider assaults resulting in data breaches, and the requirement to maximize organizational effectiveness. The market for laser technology will also experience a surge in new opportunities over the aforementioned projection period as a result of digitization, acceptance of identification as a service (IDaaS), and growth in the introduction of intelligence-based privileged identity management systems. The expensive cost of innovation and implementation, among other things, is what's preventing the privileged identity management industry from growing over the course of the aforementioned research period.

Global business operations have been impacted by the COVID-19 pandemic. To lessen the burden on corporate operations caused by the epidemic, firms have used remote work practices and cloud computing. The increasing use of the cloud and remote work has raised worries among enterprises about data security and privacy. Cybercrimes and a rise in identity frauds have accelerated the adoption of IAM solutions amid the pandemic due to the economic damage brought on by the COVID-19 pandemic. Businesses have realized the value of these solutions as a result of the COVID-19 epidemic, and as a result, this market is anticipated to expand significantly over the long term.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ARCON, Balabit, BeyondTrust, Bomgar Corporation, CA, Inc., Centrify, Core Security, Cyberark, Hitachi-ID, IBM Corporation, Iraje, Lieberman Software, NRI Secure Technologies, ObserveIT, Onion ID, Oracle Corporation, Osirium, Quest Software, Silverlake Mastersam, Simeio Solutions, Thycotic, Wheel Systems.

By Component: Based on the Component, Global Privileged Identity Management Market is segmented as; Services, Solutions (Access Management, Identity Management, Session Monitoring and Management).

By Service: Based on the Service, Global Privileged Identity Management Market is segmented as; Managed Services, Professional Services (Consulting Services, Education and Training, Implementation and Integration, Support and Maintenance).

By Deployment Mode: Based on the Deployment Mode, Global Privileged Identity Management Market is segmented as; Cloud, On-premises.

By Installation Type: Based on the Installation Type, Global Privileged Identity Management Market is segmented as; Agent-based, Appliance-based.

By Organization Size: Based on the Organization Size, Global Privileged Identity Management Market is segmented as; Large Enterprises, Small and Medium Enterprises.

By End User: Based on the End User, Global Privileged Identity Management Market is segmented as; BFSI, Energy & Utilities, Government & Defense, Healthcare, Manufacturing, Retail, Telecom & IT, Others.

By Region: The market for privileged identity management is dominated by North America because there is a greater need to improve organizational efficiency in this region, a rise in the use of best practices for identity management, and a greater risk of data breaches as a result of insider assaults.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.