San Francisco, May 06, 2016 (GLOBE NEWSWIRE) -- The worldwide privileged identity management market is projected to grow at nearly 26.8 percent CAGR during 2014 to 2018. One of the key drivers of this market is rising need for compliance. The market has been experiencing access to cloud solutions. Privileged identity management refers to safe password management solutions. These solutions control administrator operations in databases, applications, system equipments, & other critical environments.
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Privileged identity management is broadly utilized by consumers to monitor, protect, & oversee the operations of privileged accounts. These solutions maintain the safety of accounts of privileged users. They also find applications as managerial & data protection tools. These assist companies in abiding by different regulations and thwarting safety breaches. Several benefits of these solutions bode well for the market and help the latter gain shares.
Widespread adoption of SaaS-privileged identity management solutions is a vital market development. Technological innovations have pushed sellers into providing SaaS solutions to boost their incomes. Companies from multiple industries use privileged identity management services. This is attributed to the advantages of these services like less spending and access to ‘pay-per-use’ models.
As per the Research Report, the privileged identity management market is also propelled by accelerating usage of mobile devices. Such adoption of tablets and mobile instruments has raised identification issues. Staff members may access classified data like key business details or emails using these instruments. To combat the same, companies require safety solutions & services to prevent workers from tampering with secret information (via frauds & swindles).
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Thus, they use the said solutions to protect their systems & offer safe access. Moreover, Radiant Insights states that less or no proficiency across safety services would hinder market growth in the near future. With technological proliferation, safety threats are mounting. It is also harder & complicated to check and detect hacks, viruses, spyware, & spams. Thus, steps involved in the avoidance & recognition of safety infringements could challenge the market.
The supervision of privileged identities is programmed to follow tailored or predetermined regulations & demands of industries or companies. This is yet another factor, favoring the privileged identity management market and making extra bucks for it.
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Key questions answered in this report:
What will the market size be in 2018 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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