WASHINGTON, May 8, 2020 /PRNewswire/ -- Thycotic, a provider of privileged access management (PAM) solutions for more than 10,000 organizations worldwide, including 25 of the Fortune 100, announced today it has earned the number two spot as overall PAM leader in a new report from KuppingerCole Analysts. The KuppingerCole Leadership Compass provides an extensive overview of vendors and their products in the $2.2 billion PAM market that is projected to grow to $5.4 billion by 2025.
"The massive growth in PAM solutions has been triggered by the increase in business understanding the need for PAM for protecting critical data and services, and a concurrent rise in the number of users and applications that need to access them," according to Martin Kuppinger. "Advanced capabilities such as privileged user analytics, risk-based session monitoring, DevOps provisioning, and PAM governance are required beyond traditional baseline capabilities," he said, "all of which Thycotic has integrated into a comprehensive PAM solutions suite."
A complimentary copy of the 38-page March 2020 KuppingerCole Leadership Compass for Privileged Access Management can be downloaded here.
Noting that Thycotic has moved ahead of BeyondTrust and Centrify "thanks to good product enhancements in the last year," Leadership Compass author and Senior Analyst Paul Fisher cites Thycotic's PAM product suite of on premise and cloud solutions, including Secret Server, Privilege Manager, Privileged Behavior Analytics, Account Lifecycle Manager, DevOps Secrets Vault and Connection Manager.
With Thycotic earning "strong positive" ratings for security, functionality, and interoperability overall, Fisher specifically recognized Thycotic Secret Server as "known for its comprehensiveness, ease of deployment and configuration that can reduce product development and upgrade cycles substantially."
Acknowledging that Thycotic has benefited from its partnership with IBM, Fisher also pointed out Thycotic "has remained very much its own company and able to reach big corporate customers on its own."
"We are very proud that our continuous delivery of new product capabilities has elevated Thycotic to the top position for innovation in KuppingerCole's PAM Leadership Compass," said Steve Kahan, Chief Marketing Officer at Thycotic. "It helps validate our commitment to providing customer-centric technology that is usable, cloud ready and flexible to meet the PAM needs of any size organization."
Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic's security tools empower over 10,000 organizations, from small businesses to the Fortune 100, to limit privileged account risk, implement least privilege policies, control applications, and demonstrate compliance. Thycotic makes enterprise-level privilege management accessible for everyone by eliminating dependency on overly complex security tools and prioritizing productivity, flexibility and control. Headquartered in Washington, DC, Thycotic operates worldwide with offices in the UK and Australia. For more information, please visit www.thycotic.com.