Global cybersecurity market research highlights trends for the coming years

Global cybersecurity market research highlights trends for the coming years

Germany - Amsterdam Aesthetics originally published at Germany - Amsterdam Aesthetics

Privileged Access Management (PAM) Scale

Report published Frost & Sullivan presents strategies in the Privileged Access Management (PAM) scenario with a time frame from 2020 to 2025.

Because we touch on this very point, people, what security companies cannot leave aside is the customer experience, how they deal with changes and how we serve them, how much support we provide them.”

— Marcus Scharra, CEO at senhasegura

SAO PAULO, BRAZIL, June 1, 2022 /EINPresswire.com/ — The “boom” in the amount of remote access to companies’ networks and data as a result of the massive convergence to the digital environment, the widespread adoption of cloud technology, demanding compliance laws, and the progressive complexity of corporate infrastructure all require “automated and intelligent PAM solutions for better privileged access management”. These are some of the reasons that back up the study promoted the Frost & Sullivan consulting in its “Global Privileged Access Management (PAM) Solutions Growth Opportunities” report released earlier this year, which also indicates that the implementation of Privileged Access Management (PAM) solutions will increase in the next 3-year period.

According to the statistics presented in the report, which analyzed the total of 25 PAM vendors around the world, the compound annual growth rate within the 5-year period (2020-2025) is 19.2%, delivering an expected profit of $2.91 B the final year. Despite the expansion across all business areas of the planet, i.e. North America, APAC, EMEA and LATAM, the first two ⎼ North America and APAC ⎼ are expected to get the top of the market growth, with combined share of 67.1% also 2025.

Check on Frost & Sullivan website to read the full report.

HIGH EXPECTATIONS, SO DOES ATTENTION

In the expanding digital asset protection industry, the core of privileged identities has been gaining spotlight due to the “rise in the number, frequency, and sophistication of cyberattacks, as well as the expansion of the attack surface due to the complexity of IT and business environment”, as the report states. In the US itself, phishing and ransomware, the most common categories of cybercrimes that compromise data, increased from 90% in 2021 to 92% in the Q1 2022 according to the Identity Theft Resource Center.

But note: the global market is still feeling the effects of the pandemic, which means that companies are going through budget cuts and workforce changes, which makes it difficult to afford very high investments. The high cost of ownership, especially in APAC, EMEA and LATAM, and the complexity in deployment, use, and management are restrictive and even hindering factors for the adoption of a PAM solution.

NO ROOM FOR DIGITAL SEGREGATION: OT HAS IT ALL

In spite of the world’s accelerated digital migration, there are those who prefer to invest both in Information Technology (IT) and Operational Technology (OT). Taking an example of this, the cybersecurity solutions provider senhasegura comes in as the only company among those present in the research that offers the Privileged Access Management (PAM) solution with SaaS or hardware functionalities to consumers.

For Marcus Scharra, CEO and cofounder of senhasegura, offering on-premises and/or Sass-based options of a cybersecurity product is positive, but the big trend of the market should be the good relationship with the clients: “To have a solution that is easy and quick to adopt and deploy, made up in modules that adapt to the needs of the consumers and that removes the bureaucratic process is what should be expected, in fact, from tools that safeguard the privacy of companies, of people. And because we touch on this very point, people, what security companies cannot leave aside is the customer experience, how they deal with changes and how we serve them, how much support we provide them.”

WHAT IS PAM?

Privileged Access Management (PAM) is a cyber solution based on the strategy of controlling access and privileged permissions for users, applications, systems and machines within a critical corporate environment.

The goal is that users, i.e. employees, third parties (e.g., partners, customers, or suppliers), and devices have the right of privileged access to a company’s assets through a cycle that includes account discovery; network monitoring; password, session, and access management, and auditing and reporting of activities.

ABOUT SENHASEGURA:

Global provider of cybersecurity solutions with a solid presence in more than 55 countries in the commercial zones of North America, APAC, EMEA and LATAM, with bureaus in the United States and Brazil, and that aims to promote the right to security, prosperity and independence to all institutions through applied technology.

Priscilla Silva
senhasegura
[email protected]
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The post Global cybersecurity market research highlights trends for the coming years first appeared on Amsterdam Aesthetics.

Germany - Amsterdam Aesthetics originally published at Germany - Amsterdam Aesthetics