NEW YORK, May 14, 2019 /PRNewswire/ --
The global privileged identity management market accounted to US$ 1496.6 Mn in 2018 and is expected to grow at a CAGR of 30.8 % during the forecast period 2019 – 2027, to account to US$ 16331.6 Mn by 2027. Over the years the businesses are getting more concerned about their digital footprint. The stats are gradually gaining trajectory in terms of people who are apprehensive about the internet eroding their privacy. The privacy concerns have subsequently led to the increased usage of consumer tools that enable consumers to regain control of their online privacy. Such tools include deleting of cookies, use of ad-blocking software or VPN (Virtual Private Network) are attaining significant importance among the consumers. The privacy concerns among consumers have also impacted their confidence and trust over the organizations catering to them. People are beginning to understand that their data is vulnerable when shared without their consent. Consumers are now demanding from organizations to take accountability of securing their data. Because for the consumer concerns, designing products with built-in privacy is not just about regulations, it the only right thing according to them. For the companies to stay abide by the regulations establishe greater trust and also enables them to take their moral high ground and exhibit trustworthy traits. These trends in the privacy ecosystem are expected to significantly influence the growth of privileged identity management among all organizations. The privileged identity management market globally has been segmented based on component into solution and service. Based on deployment, the privileged identity management market is further segmented into On-premise and cloud. Based on end-user, the privileged identity management market is segmented into it & telecom, government, BFSI, healthcare & pharmaceutical, manufacturing, and others. Geographically the privileged identity management market is presently dominated by developed regions including, North America. However, the privileged identity management market is expected to be in favor of APAC. The overall privileged identity management market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the privileged identity management market. Also, the primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Privileged identity management industry.
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