Privileged Access Management Market Trends

Growth Drivers

• Zero-trust security model: The World Economic Forum, in February 2025, stated that 54% of large organizations quote supply chain as the biggest challenge in cyber resilience, owing to the complexity and absence of visibility in security for suppliers. In May 2024, it was reported that an AI deepfake was used to steal USD 25 million from the UK global engineering and design firm Arup.
  
  The article further mentions that there has been a notable cyber skills gap of 8% in 2024. Two-thirds of organizations report facing moderate-to-critical talent shortages for cybersecurity. PAM integration helps mitigate insider threats and unauthorized access, protecting organizations with secure endpoints, applications, and preventing potential breaches.
   
• Integration with IAM: PAM integration with identity and access management (IAM) is becoming a critical security strategy for organizations. By combining PAM with IAM, businesses can enforce a unified approach to identity security, ensuring that both privileged and non-privileged users follow strict access control. This integration enables seamless authentication, centralised visibility, and automated user provisioning, reducing the risk of credential misuse.
  
  Additionally, IAM-PAM integration enhances compliance by providing detailed audit trails and real-time monitoring of privileged activities, helping organizations meet regulatory requirements.  In February 2023, Procyon announced USD 6.5 million equity financing in IAM and launched a next-generation cloud-based PAM Solution for multi-cloud IAM platform, offering self-service access, ZSP & JIT, strong device identity, and compliance & governance.

Challenge

• Absence of granularity: PAM systems are designed to monitor and maintain privileged access inside a company. However, every PAM system offers similar complexity with its management features. 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.