Frost Radar™: Privileged Access Management, 2024

Frost Radar™: Privileged Access Management, 2024

A Benchmarking System to Spark Companies to Action Innovation that Fuels New Deal Flow and Growth Pipelines

In today’s business environment, privileged access can include human and non-human users beyond the IT team. The proliferation of privileged accounts and their privileged access points are vulnerable entry points for hackers. The rising adoption of cloud-based infrastructure and services expands the attack surface further and introduces significant new challenges for organizations in preventing the misuse of and managing permissions for privileged accounts. Privileged access from remote endpoints is no longer as secure as it used to be because of the rapid growth of cyberattacks, including privileged escalation, insider threats, and artificial intelligence (AI)-driven attacks.

As a result, there has been a notable increase in demands from cyber insurers in addition to growing enforcement of cybersecurity regulations and cyber insurance requirements requiring stringent controls over access to sensitive data and systems. CISOs and security teams are challenged to secure privileged access and mitigate against unauthorized access and credential theft, which creates increased requirements for privileged access management (PAM). PAM solutions detect and manage security risks linked to the abuse of shared credentials, elevated privileges by unauthorized users, and misuse of privileges on third-party systems.

Given the rise of cloud migration, the use of large language models, and AI-driven attacks, the decentralized nature of security and IT tools that lack orchestration, and the growing prominence of attacker exploits via identities, organizations seek more advanced PAM capabilities beyond the traditional standard features such as credential vaulting, password rotation, or activity monitoring. A more modern, automated, and holistic PAM will need to converge with other security technologies, embedding zero-trust architecture and AI/machine learning, while providing orchestration and correlation to address these security challenges.

In a ?eld of more than 25 global PAM industry participants, Frost & Sullivan analyzed the top 13 companies exemplifying visionary innovation efforts in the past year. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.