The Latin America, Middle East and Africa Privileged Access Management Solutions Market would witness market growth of 27.4% CAGR during the forecast period (2023-2030).
Privileged access management solutions primarily offer solutions, services, and other products. The act or procedure of resolving specific issues through a collection of software tools and services within an organization is referred to as a solution. Numerous small, medium, and large businesses have implemented cloud and on-premise technologies in various applications using Windows, Unix and Linux, Mac OS, infrastructure devices, and IoT. These end-users include the healthcare, BFSI, energy & utilities, manufacturing, government, retail, IT, and telecom industries. The primary trend that is becoming increasingly popular in the market is technological development.
As a result, research & development efforts for product improvements in privileged access management systems are prioritized by major market players. For instance, companies that provide privileged access management solutions are now offering cloud entitlements to managers that rely on artificial intelligence to increase the security of an organization's cloud settings. By continuously identifying hidden, incorrectly set, and underused cloud permissions, it leverages the identity security approach to comprehend context and intent, assess the risk appropriately, and take relevant actions to safeguard an organization's cloud environment. A central dashboard with a single view of the users' rights is one example of how the cloud entitlements manager can be set up to give an assessment of exposure levels and implement granular remediations for delivering excellent customer value.
Israel's cabinet approved a five-year, 922 million Shekel National Program for Promoting the Digital Health Sector. This application has the potential to dramatically improve the medical care given to patients, which is why this industry is growing swiftly in Israel. This data allows for the analysis of disease trends in the population, the use of prior treatment information, the discovery of disease risk factors and their prevention, the development of pharmaceuticals and other technical products, and the promotion of individualized medical care. In addition, the demand for cybersecurity solutions to protect data and transactions, combined with patient and employee data, is anticipated to increase due to rising public awareness of the advantages of eHealth and government financing to implement it, accelerating the expansion of the region's market.
The Brazil market dominated the LAMEA 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 $409.8 million by 2030. The Argentina market is experiencing a CAGR of 28.1% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 27.1% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
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