The Europe Privileged Access Management Solutions Market would witness market growth of 20.3% CAGR during the forecast period (2023-2030).
Cloud-based privileged access management has sped up the process and reduced processing time by mapping the private credentials across hybrid and cloud environments. As a result, businesses implement privileged access management solutions to lessen the risks of data loss and unauthorized access to sensitive information.
These solutions are in more demand due to the introduction of the Bring Your Own Device trend and the work needed to manage access credentials. A possible privileged access management solution is required to monitor and audit the security audit and other actions connected to the privileged accounts. The status and privileges, access to important corporate data, and system vulnerability allow hackers to hack into users' accounts and steal enterprise data. Potential privileged access management systems reduce the threats of administrators' passwords that haven't been changed.
The number of security breaches in various businesses has surged due to hackers and their cutting-edge tactics. Every business must include potential security measures for secure operation to protect important data. Additionally, the rise in smartphone usage and the accessibility of internet connectivity have encouraged unethical behavior. These factors have been important contributors to the expansion of the market.
The National Health Service (NHS), backed by an ambitious culture, an innovation system that is constantly improving, and world-class talent, put the United Kingdom in a unique position to realize the potential of data and digital in healthcare. The United Kingdom is home to some of the top health technology businesses and has led the way in several cutting-edge medical disciplines. To carry out a larger project supporting the Government's tech strategy to restructure and enhance the architecture of technology in the NHS, the Government has given £37.5 million through the Life Sciences Sector Agreements and created seven Digital Innovation Hubs in October 2019. Hence, the Government's commitment to expanding eHealth adoption and protecting vital patient and employee data is anticipated to raise demand for and usage of privileged access management solutions, propelling market expansion in Europe.
The Germany market dominated the Europe Privileged Access Management Solutions Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,079.3 million by 2030. The UK market is anticipated to grow at a CAGR of 19.3% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 21.2% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Identity Management, Access Management and Session Monitoring & Management) and Services. Based on Deployment Mode, the market is segmented into On-premises and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Government & Public Sector, BFSI, Retail & E-commerce, Energy & Utilities, Telecom & IT, Manufacturing, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Privileged Access Management Solutions Market is Projected to reach USD 16.9 Billion by 2030, at a CAGR of 21.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ARCON, One Identity LLC (Quest Software, Inc.), BeyondTrust Corporation, Broadcom, Inc., Delinea Inc. (TPG Inc.), CyberArk Software Ltd., Bravura Security, Inc (Volaris Group Inc.), Iraje Inc, Kron Teknoloji A.S. and WALLIX GROUP.
By Component
By Deployment Mode
By Organization Size
By Vertical
By Country
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