What strategies is your organization implementing to overcome growth barriers in Privileged Access Management (PAM) solutions?
The adoption of privileged access management (PAM) is set to grow steadily over the next few years, driven by the evolving cybersecurity landscape, increased cyber insurance requirements, and the expanding cloud-based attack surface. As information technology (IT) infrastructures become more complex, organizations are turning to PAM solutions with zero-trust principles and multi-factor authentication to secure privileged access, especially for third-party vendors. Traditional access security methods are increasingly becoming inadequate, prompting a shift towards integrated PAM strategies that incorporate artificial intelligence (AI), automation, and advanced analytics. This modern approach ensures visibility, efficiency, and consistency across diverse IT environments, keeping PAM in high demand.
- In 2023, the global PAM solutions industry is valued at approximately $1.82 billion, with a year-over-year growth rate of 19.4%.
- The industry is projected to grow to $4.86 billion by 2028, reflecting a double-digit compound annual growth rate (CAGR) from 2023 to 2028.
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Transformative Megatrends
Prioritizing the adoption of cloud/software-as-a-service (SaaS)-based, converged PAM solutions that integrate identity security, zero-trust principles, Cloud Security Posture Management (CSPM), and cloud infrastructure entitlement management (CIEM).
Competitive Intensity
Emphasizing the expansion and integration of technology partnerships with security platforms and cloud providers to ensure PAM vendors deliver comprehensive risk management solutions in increasingly complex environments.
Disruptive Technologies
Driving the integration of AI/machine learning, including large language models and generative AI, into PAM solutions while simultaneously developing and enforcing robust governance frameworks.
How is your organization aligning its strategies to tackle the critical imperatives involved in integrating PAM solutions with your cloud and IT infrastructure?
Download now for detailed analysis of the global PAM industry including regional breakdowns for North America, Europe, the Middle East, Africa, Asia-Pacific, and Latin America.
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