Privileged Access Management (PAM) Market Size & Share, by Offering [Solution (Password Management, Session Management, Access Control, Privileged Identity Management, Compliance & Reporting), Services (Professional, Managed)]; Deployment Mode (On-Premises, Cloud); Enterprise Size (Large Enterprise, SMEs); Industry Vertical (BFSI, Government, IT & Telecom, Telecommunication, Others) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5708
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Privileged Access Management Market size is estimated to reach USD 9 billion by the end of 2036, growing at a CAGR of 22% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of privileged access management was USD 3 Billion. This market expansion is set to be dominated by the rising threat of cyber-attacks. There are over 3999 new cyberattacks every day in the world. A corporation is attacked by ransomware every 14 seconds, and while about 550,000 new malware samples are discovered every day, these attacks can cause catastrophic financial losses. Hence, the need to adopt privileged access management is growing.

Additionally, there have been certain strict regulations set by the government in different countries to protect the general public and corporations from cyberattacks. For instance, in the case of Europe, the European Union created the European General Data Protection Regulation (EU-GDPR) as a security framework to shield its people's data from exploitation. Businesses that handle data connected to EU citizens, whether through automated systems or human processes, are required to abide by the GDPR. Therefore, with this, the market adoption for privileged access management is also projected to rise. 

Privileged Access Management Market
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Privileged Access Management Sector: Growth Drivers and Challenges

Growth Drivers

  • Surge in Prevalence of Insider Threats - Insider threats are increasing swiftly and costing companies money through data breaches.  An insider has access to digital assets, including data in transit, digital media, and other information sources, as well as physical data, such as hard copies of documents and technological equipment utilized by the business. An employee, supplier, business associate, or maintenance contractor may all be considered insiders. The insider threat environment has contributed to the widespread adoption of privileged identity management. A company's primary concern is protecting this data, and super user accounts have access to a substantial internal database. Therefore, it is expected that growing security concerns will drive demand for privileged identity management systems, driving market expansion.
  • Access Control from a Single Location  -Businesses typically employ organizational silos to handle privileged accounts and credentials, with different departments adhering to different compliance standards and best practices. This raises the risk that the company faces and complicates management. However, with a PAM solution, corporations may handle all of their privileged accounts from one central location, independent of the platform, hardware device, application, or service being used. The aforementioned benefits of the privileged access management system are therefore expected to propel the privileged access management market growth.
  • Growth in the Number of People Working Remotely  -Remote work circumstances have grown more prevalent, as evidenced by about 11% of full-time professionals who work from home in 2023. At the same time, over 27% of workers have adjusted to a hybrid work style. However, with more work being done remotely comes a host of cyber security threats. Phishing and social engineering assaults are particularly common against remote workers. Cybercriminals generate phone emails, messages, or phone calls in these situations to trick staff members into disclosing confidential information or downloading dangerous software. Additionally, remote workers frequently access company resources over unprotected home networks or unprotected public Wi-Fi networks. These networks are susceptible to compromise, which gives hackers the ability to intercept data and carry out remote device attacks. Therefore, the adoption of privileged access management is estimated to grow.


  • Absence of Granularity - Lack of granularity is one of the main issues confronting the PAM market. PAM systems are designed for monitoring and maintaining an eye on privileged access inside a company. However, every single PAM system offers the same level of complexity in its management features. Some have a tendency general to offer precise control over certain domains of privileged access. A system may, for instance, permit database access without defining which sections of the database are available for use. This wide approach increases the risk of unauthorized access by exposing more data. Inadequate access restrictions provide significant compliance and security concerns, particularly for organizations such as financial or healthcare institutions that handle sensitive data.
  • Growing Complexity in Implementation of Privileged Access Management
  • High Price of the Software

Privileged Access Management Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~ USD 3 Billion

Forecast Year Market Size (2036)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Privileged Access Management Segmentation

Deployment Mode (On-Premises, Cloud)

The cloud segment in the privileged access management market is expected to gather the highest share of about 60% over the coming years. This growth of the segment is set to be influenced by the rising adoption of the cloud by organizations. By 2022, about five out of ten companies have shifted their operations to the cloud. Given the growth of the cloud computing sector, this tendency is probably going to continue in the years to come. However, potential cyber threats and access point complexity rise in tandem with cloud usage. Since the cloud is decentralized, several security risks must be addressed, which is why PAM is essential for protecting vital resources. PAM plays a role that goes beyond security as companies’ priorities are digital agility and cloud services. It helps with digital transformation while preserving data integrity, confidentiality, and compliance. PAM's market growth is being driven by the ongoing rise in cloud usage and digital transformation, which highlights the growing importance of PAM in the enterprise security framework.

Offering [Solution (Password Management, Session Management, Access Control, Privileged Identity Management, Compliance & Reporting) Services (Professional, Managed)]

The solution segment is projected to hold 60% share of the global privileged access management market during the forecast period. Among this segment is the access control segment is estimated to have the highest growth. This is to ensure it would be more difficult for threat actors to penetrate a network and obtain privileged account access. Privilege access management assists organizations in managing identities. Furthermore, it offers further protection to privileged groups that manage user access to domain-joined PCs and their programs. Additionally, PAM offers visibility, monitoring, and granular restrictions to help detect privileged administrators and track the usage of their accounts. Therefore, it is anticipated that these qualities will fuel the segment's growth.

Our in-depth analysis of the global privileged access management (PAM) market includes the following segments:


  • Solution
  • Password Management
  • Session Management
  • Access Control, Privileged Identity Management
  • Compliance & Reporting
  • Services
  • Professional
  • Managed

          Deployment Mode

  • On-Premises
  • Cloud

          Enterprise Size

  • Large Enterprise
  • SMEs

          Industry Vertical

  • BFSI
  • Government
  • IT & Telecom
  • Telecommunication, Manufacturing
  • Energy & Utilities
  • Retail & E-Commerce
  • Healthcare & Lifesciences

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Privileged Access Management Industry - Regional Synopsis

North American Market Forecasts

The North American privileged access management (PAM) market is poised to capture the highest revenue share of about 35% during the forecast period. The growth of the market is set to be influenced by the rise in the number of key PAM vendors in this region. Furthermore, this region is also observing a surge in mobile penetration which is further boosting the adoption of mobile services. For instance, in comparison to the global average of about 72%, North America's mobile penetration rate is expected to surpass over 90% by 2030. In both the US and Canada, the penetration rate will be approximately 92%, which is the highest. Moreover, 5G connections are expected to more than double to 447 million by 2030, representing about a 90% adoption rate. Hence, all these factors are expected to increase cyber risk which is why the market for privileged access management is growing. Additionally, the number of startups is also growing in this region which necessitates the use of privileged access management. 

European Market Analysis

The European privileged access management market is also estimated to have notable growth in the coming years. The major factor to dominate the market growth in this region is the rising number of small & medium enterprises. SMEs constitute the backbone of the EU-27 economy, accounting for almost 98% of all firms in the Union. Cybercriminals find it simple to target small and medium-sized businesses, as they may undermine business continuity with methods including phishing and ransomware. However, PAM can safeguard these organizations from harmful attacks.

Research Nester
Privileged Access Management Market Size
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Top Featured Companies Dominating the Privileged Access Management Landscape

    • BeyondTrust
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • WALLIX
    • ARCON
    • One Identity LLC
    • Broadcom
    • Delinea Inc.
    • Iraje Inc
    • Kron
    • WALLIX
    • Ekran System


In The News

  • A cooperation has been announced between BeyondTrust, the global leader in intelligent identification and access security, and Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC). Through the partnership, the two groups can work together to create tailored Privileged Access Management (PAM) solutions that are tailored to the specific needs of businesses in the area.
  • WALLIX, a major provider of access and identity security solutions in Europe and publisher of cybersecurity software, announced a combined "Go-To-Market" sales agreement with Britive, a cloud identity security platform leader. Together, the two companies created the award-winning WALLIX PAM4ALL & PAM4OT unified solution. To assist the rapidly expanding PAM industry, this synergistic cooperation will involve mutual RFP support, joint selling, joint marketing, and referrals.

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 5708
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market surge in the prevalence of insider threats, access control from a single location, and growth in the number of people working remotely.

The market size of privileged access is anticipated to attain a CAGR of 22% over the forecast period, i.e., 2024-2036.

The major players in the market are BeyondTrust, WALLIX, ARCON, One Identity LLC, and others.

The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Privileged Access Management Market Report Scope

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