Wiesbaden, December 15, 2022 – The PAM has market reached maturity at enterprise level and KuppingerCole Analysts predicts that the market will steadily grow to 5.22 bn USD by 2025. The Compound Annual Growth Rate for this segment is 11.1% yearly, and approximately 80% of the companies that opt for PAM solutions are located in North America and EMEA, followed by 15% coverage in APAC and a smaller portion in LATAM. The demand for traditional PAM capabilities (vaulting, credential management, analytics, admin access, Endpoint Privilege Management etc) remains robust and vendor efforts to improve on those capabilities continues to drive competition.
Many successful cyber-attacks involve the misuse of privileged accounts, and misuse is enabled by inadequate Privileged Access Management (PAM) software, policies, or processes. Some of the malicious activities that must be detected and controlled are abuse of shared privileged credentials, misuse of elevated privileges by unauthorized users, theft of privileged credentials by cyber-criminals, and abuse of privileges on third-party systems, often accessed via the cloud.
PAM has evolved into a stronger and wider risk management discipline as digitalization has increased the attack surface to include cloud, multiple endpoints, working from everywhere, and no secure perimeters. It brings significant benefits to almost every major digital business initiative, including securing applications and data in the cloud, privileged user behaviour analytics to detect anomalous privileged behaviour and supporting endpoint threat protection.