Gartner, the famous information technology research and advisory company, recently published its 2016 Market Guide that delivers a neutral perspective of the Privileged Access Market. Like everyone, we always look forward to reading what the analysts have to say about the PAM market.
We encourage everyone to take a look for themselves, but after reading the report, here are a few key takeaways:
1. The market continues to grow quickly
Privileged Access Management continues to grow in both importance and revenue.
Gartner estimates the combined revenue of companies reviewed in the 2015 Market Guide was $690 million, a growth of 33% over an adjusted 2014 estimate.
What is driving this remarkable growth? PAM Adoption is being driven primarily by:
- Both outsider breaches and insider attacks: malware and hackers are specifically targeting privileged accounts
- Compliance: just like hackers, auditors and regulators are also paying more attention to privileged accounts.
- Operational efficiency: PAM is becoming an ever-bigger burden that needs to managed and streamlined.
2. PAM can be complex to deployment and that complexity too often causes adoption to fail altogether or results only in partial adoption.
Gartner advises companies to avoid the temptation to bite off too much and make sure that what they do implement they implement well and thoroughly. Adoption of Privileged Access Management products by organizations is often partial, leaving gaps that can translate to big (and usually unknown) risks.
3. PAM is going cloud
Gartner estimates that on-demand or cloud delivered PAM will account for 30% of the market by 2019… up 6X from current figures.
Good news for WALLIX Customers
We see all of these trends as good news for WALLIX and our customers. The WALLIX solution is known for:
- Offering the fastest deployment of any PAM solution with a complete suite of Access Manager, Password Manager, and Session Manager.
- An elegantly simple architecture that results in near universal utilization (A strong claim we know but just ask our customers)
- A variety of deployment options.
- An extremely great value… heck did we mention that SC Magazine rated us as their “Best Buy” for PAM? (For weaknesses they listed: “None that we found.”)
The abuse of privileged credentials is at the center of virtually every large-scale data breach. At the same time, the proliferation of cloud based-data and applications means that the numbers of privileged accounts (both human and ‘bot) continues to skyrocket. That’s a bad combination until you can safely lock down all your privileged accounts.
Gartner is not associated with WALLIX and if you want to know it’s full views on the subject of PAM, we highly encourage you to contact them and ask for a copy of the report. Their standard disclaimer reads as follows: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.