Are you looking to add Privileged Access Management (PAM) to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Privileged Access Management (PAM) statistics of 2024.
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Best Privileged Access Management (PAM) Statistics
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- According to market research firm FINN Partners, more than 1,000 IT professionals throughout the country were surveyed, revealing that privileged accounts are vulnerable if not properly protected. [0]
- After all the negative press coverage, the companyâs market capitalization decreased by $4 billion and the stock price fell 20% according to the Ubiquiti data theft â. [1]
- Centrify’s survey of 1,000 IT decision makers in the U.S. and U.K. explored the current state of the Privileged Access Management market, and found that 74% of breaches involved access to a privileged account. [2]
- The global privileged access management solutions market size was valued at $2.47 billion in 2020, and is projected to reach $19.73 billion by 2030, registering a CAGR of 23.1% from 2021 to 2030. [3]
- The market is estimated to witness relatively high growth by the end of 2021. [3]
Privileged Access Management (PAM) Software Statistics
- Only 36% of U.K. organizations are very confident in their company’s current IT security software strategies, compared to 65% in the U.S. [4]
Privileged Access Management (PAM) Latest Statistics
- A prediction from Forester said that By 2024, 70% of organizations will have PAM practices for all use cases in the enterprise, reducing the overall risk surface. [5]
- Also, according to a prediction by Gartner, 50% of enterprises will implement the JustinTime privileged access model by 2024, a practice that will let human identities, as well as non human ones to benefit from elevated access only in case of necessity. [5]
- Through this model implementation, there are 80% fewer security breaches related to privilege abuse expected. [5]
- The same Gartner prediction underlines that 65% of the companies that make use of features like privileged task automation will save money on staff costs for IT ops, raising up to 40%. [5]
- By doing so, the differences between those who use this strategy and those who not will be 70 % fewer breaches, demonstrating the value of an automated PAM solution. [5]
- 83% of organizations do not have a mature approach to access management, resulting in two times more breaches. [6]
- 56% of breaches take months or longer to discover. [6]
- 49% of organizations don’t have policies for assigning privileged user access. [6]
- 80% of security breaches involve compromised privileged credentials. [6]
- 90% of organizations feel vulnerable to insider attacks. [6]
- According to the report, the top culprits include excessive access privileges (37%), an uptick in the number of devices with access to sensitive data (36%), and the increasing complexity of information technology (35%). [6]
- Organizations assume 80% of their privileged access accounts are being managed and monitored properly but, once properly assessed, the reality is much closer to 20%. [6]
- If you are still on the fence about why PAM is important, check out these startling statistics 74 percent. [0]
- And, more than 50 percent of breaches take months to detect, according to Verizon’s 2019 Data Breach Investigations Report. [0]
- This number represents the average number of records in a data breach, according to IBM’s 2019 Cost of a Data Breach Report 83 percent. [0]
- Research from the Ponemon Institute indicates that 49 percent of businesses do not have strong user access policies. [0]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [7]
- 61% of all breaches involve credentials, whether they be stolen via social engineering or hacked using brute force. [8]
- A Work in Progress, 94% of organizations have experienced a data breach, and 79% were breached in the last two years. [8]
- 60% of mid sized businesses that have asked their employees to work remotely experienced a cyberattack; 56% of those experienced credential theft, and 48% experienced social engineering, such as phishing. [8]
- 99% of IDSAâs respondents whoâd suffered an identity related breach believe that these types of attack are preventable. [8]
- Further research shows that 44% of security professionals believe that an identity and access management solution will address their current security gaps. [8]
- According to a recent survey, 8 out of 10 of us find password management difficult. [8]
- 22% of hacking breaches involve social attacks, and 37% of all breaches involve the use of stolen credentialsâŚ. [8]
- 24% of US security professionals say that their organization has experienced a brute force attack, including password spraying or credential stuffing, in the last two years. [8]
- According to the same study, 66% have experienced a phishing attack â which brings us on to our next identity breach method, which is generally considered to be the most common. [8]
- 25% of all data breaches involve phishing, a type of social engineering attack. [8]
- Trickbot reports were at a high during the first half of 2020, with 47% of reported incidents globally taking place in Q1 as hackers capitalized on the uncertainly brought about by the pandemic. [8]
- Q4 saw the highest number of Agent Tesla reports globally, at 46%. [8]
- Similarly, Q4 accounted for 68% of the global reports of Dridex, a financial trojan that can steal credentials, take screenshots of compromised devices, and perform distributed denial of service attacks. [8]
- Remote working has increased access to critical business systems by 59% in the last year. [8]
- On average, organizations today have 51 business critical applications; over half of these (56%). [8]
- Despite the risks presented by remote and hybrid work, a concerning 50% of organizations donât have a policy on the security requirements for their remote workers. [8]
- 73% of workers havenât received any cybersecurity awareness training from their employer since they began working from home. [8]
- Of those that do require that their employees use authentication, only 35% require multi. [8]
- Only 38% of organizations use MFA to secure their privileged accounts, and 49% of organizations have at least some users with more access privileges than are required for them to do their job. [8]
- It comes as little surprise, then, that a quarter of all cybercrime victims in the US and UK have managerial positions or own a business and that 34% of identity related breaches in the last two years have involved the compromise of privileged user accounts. [8]
- Lack of skilled staff (41%) Not utilizing available technologies (33%) Password management and authentication (31%) Detection and/or mitigation of insider threats (30%). [8]
- Increasing use of mobile devices (30%). [8]
- In 2020, 80% of organizations that reported a data breach suffered a loss of PII. [8]
- Further research, focused on data breaches in the era of remote work, has also found that customer records are considered the most vulnerable type of data, with 55% of organizations showing concern for protecting customer records from cyberattacks. [8]
- This was followed by financial information (48%), customer credit or debit card information (31%), intellectual property (28%), employee records (21%) and business correspondence (18%). [8]
- According to a survey by Cybersecurity Insiders, when looking to invest in an IAM solution, organizations prioritize ease of integration (72%), followed by end user experience (62%), and product performance and effectiveness (61%). [8]
- Further features that security teams look for include Ease of administration (59%). [8]
- by the end of March 2020, 73% of organizations had given their employees extra training on how to be âcyber safeâ when working remotely, with specific training targeting password and credential verification. [8]
- 91% of organizations say that password MFA is important in order to stop credential theft and phishing attacks, making attack prevention the primary reason that people use passwordless MFA. [8]
- Interestingly, this is followed by user experience, which 64% of organizations named as being a reason that passwordless MFA is important. [8]
- Other reasons given for the importance of passwordless MFA include achieving digital transformation (21%) and saving costs (14%). [8]
- In the past year, only 34% of organizations with a âforwardthinkingâ security culture have had an identity related breach in the past year. [8]
- 71% of organizations that have suffered a data breach in the past year say that better security awareness training for users could have prevented the breach. [8]
- Take steps to become proactive in your security implementation, rather than reactive like that 71%. [8]
- The 2021 Insider Threat Report by Cybersecurity Insiders states that 98% of organizations feel vulnerable to insider attacks. [1]
- The Verizon 2021 Data Breach Investigations Report says that 80% of all privilege misuse cases in 2020 were financially motivated. [1]
- According to the Privilege abuse Data mishandling is the second most common variety of privilege misuse (up to 30% of incidents according to the Verizon DBIR report). [1]
- According to the 2021 Insider Threat Report by Cybersecurity Insiders, 53% of cybersecurity professionals believe that detecting insider attacks has become harder since shifting towards the cloud. [1]
- Miscellaneous errors are committed by internal actors (99%) and partners (1%). [1]
- Their top errors are During 2021, 47% of organizations saw a significant increase in the number of employees and extended workforce using their own devices due to the shift to remote work. [1]
- Despite both the rising awareness of insider related risks and continuously evolving capabilities to better predict a breach, 57% of respondents surveyed by Cybersecurity Insiders say that insider attacks became more frequent in 2021. [1]
- Moreover, 63% of organizations surveyed for the report said they couldnât effectively perform to monitor, detect, and respond to insider threats. [1]
- Eighty two percent of organizations surveyed for the 2021 Insider Threat Report by Cybersecurity Insiders canât even determine the actual damage that an insider attack has caused. [1]
- Insider privilege misuse together with system intrusion take the longest to discover according to the 2021 DBIR.Only 18% of organizations confirm they can detect an insider cyber attack within minutes, and only 12% can recover within minutes. [1]
- Another 18% of organizations canât detect an insider threat at all. [1]
- Also, 90% of respondents confirm that insider attacks are as difficult to detect and prevent as external cyber attacks â or even harder. [1]
- In terms of insider threat monitoring technologies, 60% of respondents donât consider theirs to be effective. [1]
- Among cybersecurity professionals, 41% were planning to establish an while another 40% already had one according to the insider threat. [1]
- However, only 42% of companies now deploy a single product for controlling where data goes or use multiple integrated tools for this. [1]
- The other 58% reduce their chances of identifying insider threats by using separate tools or no tools at all. [1]
- According to their reports, the total average cost of a threat increased by 31% between 2017 and 2019. [1]
- Insider privilege misuse together with system intrusion take the longest to discover according to the 2021 DBIR. [1]
- Only 18% of organizations confirm they can detect an insider cyber attack within minutes, and only 12% can recover within minutes. [1]
- Automate upgrades and patches for reduced total cost of ownership Secure, SOC 2 Type 2 compliant services with a certified 99.9% SLA for uptime. [9]
- For starters, according to Forrester Researchâs most recent Wave report on Privileged Access Management 80%of security breaches involve privileged credentials. [10]
- And those breaches arenât just a flash in the pan, according to Verizonâs 2017 Data Breach Investigations Report , which found that. [10]
- 82%of data breaches caused by insider misuse took over a week to detect, up from 70% in 2016. [10]
- Those numbers are disastrous, and security professionals are taking note, according to The 2016 State of Privileged Account Management Report from Thycotic and Cybersecurity Ventures. [10]
- 80%of IT security professionals consider Privileged Account Management security a high priority. [10]
- 30%of federal government respondents to Tripwireâs survey disclosed they are not able to detect every non privileged userâs attempt to access files. [10]
- Despite this,73%of federal government respondents assume their system would generate an alert or email within hours if a user inappropriately accessed file shares. [10]
- But perhaps public sectors should pay more attention, because according to the Verizonâs 2016 DBIR. [10]
- The public sector reported more security incidents thanany other industryin 2015 with privileged access misuse and non malicious events making up nearly half (46%). [10]
- Shockingly little, according to Thycoticâs 2016 State of PAM report, which found that 66%of organizations still rely on manual methods to manageprivileged accounts. [10]
- Just10%of organizations have implemented an automated security vendor solution. [10]
- 20%of organizations have never changed their default passwords on privileged accounts. [10]
- 30%of organizations allow accounts and passwords to be shared. [10]
- 40%of organizations use the same security for privileged accounts as standard accounts. [10]
- 70%of organizations do not require approval for creating new privileged accounts. [10]
- 50%of organizations do not audit privileged accounts. [10]
- By 2018, Garter predicts that 50% of organizations will use authentication methods other than passwords for administrative access, up from 20% in 2015. [10]
- Despite global spending on cybersecurity surpassing $100 billion and increasing every year, data breaches are still on the rise with one analyst firm claiming that 66% of companies have been breached five times or more. [2]
- Privileged Access Management Solutions Market AsiaPacific would exhibit the highest CAGR of 25.4% during 2021. [3]
- According to the survey conducted by FINN Partners, which polled 1,000 information technology professionals, 74 percent of respondents whose companies had been breached admitted those incidents involved access to a privileged account. [11]
- The survey revealed that 52 percent of respondents did not use a password vault. [11]
- It also revealed that 65 percent of respondents were âstill sharing root or privileged access to systems and data at least somewhat oftenâ and that 63 percent take more than 24 hours to shut off privileged access for employees who leave the company. [11]
- âItâs not surprising that Forrester has found 66 percent of companies have been breached five or more times,â Steinkopf said. [11]
- Approximately 44 percent of U.K. survey respondents were unsure what privileged access management was, and 60 percent did not have a password vault. [11]
- Conversely, 26 percent of American respondents were unsure what PAM was, and 45 percent did not have a password vault set up. [11]
- The survey also suggested only 36 percent of U.K. respondents were âvery confidentâ in their companyâs cybersecurity efforts, compared to 65 percent of U.S. respondents. [11]
- According to the study, 45 percent of respondents are not securing public and private workloads, 58 percent are not securing big data projects, 68 percent are not securing networking devices, and 72 percent were not securing containers. [11]
- 72% of organizations aren’t securing containers with privileged access controls. [4]
- 68% are not securing network devices like hubs, switches, and routers with privileged access controls. [4]
- 58% are not securing Big Data projects with privileged access controls. [4]
- 45% are not securing public and private cloud workloads with privileged access controls. [4]
- 44% of U.K. respondents weren’t positive about what Privileged Access Management is, versus 26% of U.S. respondents. [4]
- 60% of U.K. respondents don’t have a password vault. [4]
- Just 35% of U.S. organizations and 30% of those in the UK are relying on Privileged Access Management to manage partners’ access to privileged credentials and infrastructure. [4]
- The 35% of U.S. based organizations doing this have an immediate competitive advantage over the 65% who aren’t. [4]
- For example, only 37% of respondents’ organizations are able to turn off privileged access for an employee who leaves the company within one day, leaving a wide open exposure point that can continue to be exploited. [4]
- The survey found that given a choice, respondents are most likely to say digital transformation (40%) is one of the top 3 projects they’d prefer to work on, followed by Endpoint Security (37%) and Privileged Access Management (28%). [4]
- With the current changes adopted by the global pandemic, we see a shift in remote access and security, where 82% of company leaders begin to adopt remote work. [12]
- However, in correlation to the remote work shift, there has been a 90% increase in a security risk for web application breaches abusing user credentials and a 25% increase in phishing attacks from 2020. [12]
- Forrester Research has estimated that, despite continually increasing cybersecurity budgets, 80% of security breaches involve privileged access abuse, and 66% of companies have been breached an average of five or more times. [13]
- A new survey supports this estimate, finding that 74% of respondents whose organizations have been breached acknowledge it involved access to a privileged account. [13]
- Over half of respondents (52%). [13]
- 65% are still sharing root or privileged access to systems and data at least somewhat often. [13]
- More than 1 out of every 5 (21%). [13]
- 45 percent are not securing public and private cloud workloads with privileged access controls. [13]
- 58 percent are not securing big data projects with privileged access controls. [13]
- 68 percent are not securing network devices like hubs, switches and routers with privileged access controls. [13]
- 72 percent are not securing containers with privileged access controls.. [13]
I know you want to use Privileged Access Management (PAM) Software, thus we made this list of best Privileged Access Management (PAM) Software. We also wrote about how to learn Privileged Access Management (PAM) Software and how to install Privileged Access Management (PAM) Software. Recently we wrote how to uninstall Privileged Access Management (PAM) Software for newbie users. Donât forgot to check latest Privileged Access Management (PAM) statistics of 2024.
Reference
- xtontech – https://www.xtontech.com/blog/7-numbers-about-privileged-access-management/.
- ekransystem – https://www.ekransystem.com/en/blog/insider-threat-statistics-facts-and-figures.
- centrify – https://www.centrify.com/resources/industry-research/pam-survey/.
- alliedmarketresearch – https://www.alliedmarketresearch.com/privileged-access-management-solutions-market-A12403.
- forbes – https://www.forbes.com/sites/louiscolumbus/2019/02/26/74-of-data-breaches-start-with-privileged-credential-abuse/.
- heimdalsecurity – https://heimdalsecurity.com/blog/privileged-access-management-pam/.
- sphereco – https://www.sphereco.com/6-things-privileged-access-management/.
- statista – https://www.statista.com/statistics/500848/worldwide-privileged-access-management-market/.
- expertinsights – https://expertinsights.com/insights/50-identity-and-access-security-stats-you-should-know/.
- cyberark – https://www.cyberark.com/products/privileged-access-manager/.
- solutionsreview – https://solutionsreview.com/identity-management/privileged-account-management-by-the-numbers/.
- businessnewsdaily – https://www.businessnewsdaily.com/11310-cyberattacks-poor-access-management.html.
- fudosecurity – https://fudosecurity.com/fudo-pam/.
- tripwire – https://www.tripwire.com/state-of-security/security-data-protection/why-pam-cisos-top-priority/.
How Useful is Privileged Access Management
One of the primary benefits of privileged access management is the enforcement of least privilege principles. By restricting access to only those individuals who require it to perform their job functions, PAM solutions minimize the risk of unauthorized access and potential breaches. This granular control over access rights ensures that sensitive information remains protected and only accessible to approved users.
Furthermore, PAM solutions enable organizations to monitor and audit privileged activities in real-time. By keeping track of who accessed what information and when, businesses can better detect and respond to potential security incidents. This level of visibility is crucial for maintaining a secure environment and quickly addressing any unauthorized or suspicious behavior.
In addition to enhancing security, privileged access management also streamlines IT operations. By centralizing and automating access control processes, PAM solutions simplify the management of privileged accounts and reduce the administrative burden on IT teams. This efficiency not only improves overall productivity but also ensures that access rights are consistently enforced across the organization.
Moreover, PAM solutions help organizations comply with regulatory requirements and industry standards. Many regulations, such as GDPR and HIPAA, mandate strict controls over access to sensitive data. By implementing privileged access management, businesses can demonstrate their commitment to data protection and regulatory compliance. This not only reduces the risk of potential fines and penalties but also enhances customer trust and confidence in the organization.
Despite its many benefits, privileged access management is not without its challenges. One of the main concerns is the complexity of implementing and maintaining PAM solutions, especially for large enterprises with diverse IT environments. This complexity can lead to deployment delays, user resistance, and potential gaps in security coverage.
Another challenge is the potential for privileged access management solutions to become a target for attackers. Since PAM solutions contain a wealth of sensitive information, they may be susceptible to cyber threats seeking to exploit vulnerabilities and gain unauthorized access. To mitigate this risk, organizations must regularly update and patch their PAM solutions, conduct regular security assessments, and implement strong authentication mechanisms.
In conclusion, privileged access management is a vital component of any organization’s cybersecurity strategy. By enforcing least privilege principles, monitoring privileged activities, and streamlining access control processes, PAM solutions help businesses strengthen their security posture, enhance compliance, and improve operational efficiency. While challenges exist, with proper planning, implementation, and maintenance, privileged access management can be a valuable tool in safeguarding sensitive data and mitigating security risks.
In Conclusion
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