Privileged Access Management Market Size

Privileged Access Management Market Size

The global privileged access management market size was valued at USD 3.6 billion in 2024 and is projected to grow at a CAGR of 23.3% between 2025 and 2034. Increasing cybersecurity threats, including data breaches and insider attacks, are pushing organizations to adopt more secure access management practices. Stringent regulatory requirements and compliance mandates, such as GDPR and HIPAA, further accelerate the need for secure systems.

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For instance, in November 2024, Syteca unveiled Account Discovery to enhance its Privileged Access Management products. This functionality helps enterprises automatically identify and manage privileged accounts within their IT infrastructure, thereby reducing security risks associated with unmanaged access credentials.
 

The growing emphasis on identity and access management (IAM) is also driving the demand for advanced access controls. As businesses integrate IAM with other security solutions, ensuring that only authorized users gain access to critical systems becomes increasingly important. This alignment enhances overall security posture and compliance, while providing a unified approach to managing both user identities and privileged access.
 

For instance, in October 2024, Evo Security launched Evo 2.0, a major advancement in unified identity and access management (IAM) designed specifically for Managed Service Providers (MSPs). Evo 2.0 consolidates various IAM capabilities into a single solution, enabling MSPs to manage identities and access controls from a single dashboard.