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Privileged Access Management (PAM) has been gaining strong traction in the Asia-Pacific (APAC) region due to the growing stringency of regulations governing regulated industries such as banking, financial services, and insurance (BFSI), government, and service providers. PAM plays a key role in cyber security today. With data privacy and personal data protection regulations increasingly becoming stringent in the APAC region, privacy legislation is growing intensively to ensure the protection of personally identifiable and company critical information.

Privileged users/accounts have become the primary targets for cyber criminals, as these users have access to critical infrastructure, shared accounts, services, and confidential data. Therefore, it is crucial for organizations, particularly those in the highly regulated industries, to control and manage these accounts properly to prevent potential data breaches caused by either insider or external threats.

PAM is becoming increasingly important, with the growing use of automated tools, services, applications, and machines among organizations to gain access to shared services, networks, infrastructure, and data. There is thus a need for better privileged access management tools that can be used more actively and effectively. PAM solutions are being increasingly integrated with other smart cyber security technologies for enhanced protection capabilities, such as user and entity behavior analytics (UEBA), security information and event management (SIEM), security analytics, intrusion detection and intrusion prevention systems (IDS/IPS), and advanced endpoint detection and response (AEDR).