BeyondTrust®, the global cyber security company dedicated to proactively eliminating data breaches from insider privilege abuse and external hacking attacks, today announced the company has been named to Gartner’s Market Guide for Privileged Access Management (PAM) report published May 27, 2015. BeyondTrust is one of three vendors (out of 29 total) to offer complete integrated solutions in the four product categories which define the PAM market; these include shared account password management (SAPM), privileged session management (PSM), superuser privilege management (SUPM-Unix and Windows, IBM i and IBM z/OS), and application-to-application password management (AAPM). In the report, BeyondTrust is cited as having a “large” market share, meaning the company has revenue greater than $30 million in the PAM market.
According to Gartner’s Market Guide for Privileged Access Management from May 2015, “Gartner estimates that the size of the PAM market reached $512 Million in 2014. The market for PAM has continued to grow, with the growth rate for 2014 estimated to have been 32%. Interest in PAM technology is driven by several factors:
• The risk of insider threats
• The existence of malware that specifically targets privileged accounts
• Operational efficiency for administrator access
• Regulation and failed audits, because auditors are paying closer attention to privileged accounts, and regulations are forcing organizations to create an irrefutable trail of evidence for privileged access
• Access to privileged accounts by third parties: vendors, contractors and service providers”
“Gartner has recognized BeyondTrust for its comprehensive, native and integrated PAM solution,” said Kevin Hickey, President and CEO, BeyondTrust. “BeyondTrust’s innovation is truly found in the company’s unified risk management platform, and it’s that solution which makes us a strategic partner for new and existing customers. It’s the company’s ability to unify organizations’ privileged access management solutions into one platform that keeps us ahead of the competition.”
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