2019 Security Predictions for the Privileged Access Management Market.
2018 was busy year. It’s a year that saw the implementation of the strictest data privacy regulations (GDPR) in Europe, countless security breaches (Marriott, Under Armor, Facebook, etc.) and many acquisitions in IT security.
As I look into my crystal ball, here are a few 2019 security predictions related to Privileged Access Management.
Privileged credentials remain a top risk
With companies having hundreds if not thousands of privileged accounts, these privileged credentials will continue to be the top reason for security breaches. Companies of all sizes will need to implement basic protections over privileged credentials. Privileged access management solutions are now more affordable and all size companies can implement in just a few hours.
There will be fines
I believe that we will see significant fines imposed on companies for not having done enough to protect personal data and comply with security and industry regulations. While no company wants to be the headline of a security breach, to date regulatory fines have been limited. I predict that we could see some significant fines and/or executive firings attached to big security breaches.
Companies that can demonstrate that they have implemented a PAM solution (not just evaluated one) will be able to avoid or limit their risk of regulatory fines.
Companies will move more applications to the cloud for better security
While it might seem counter intuitive to many – cloud vendors offer better security than many on-premise solutions. The cloud business model requires the strongest security possible and these companies are investing heavily in security. They have as much, if not more, to lose if they cannot demonstrate the highest levels of security to customers. I predict that many businesses will move from on-premise systems to cloud infrastructure as a way to improve their security.
Security software will become more proactive
I anticipate that security software will begin including machine learning and automation features into their offerings. In talking with IT professionals, they need security solutions that go beyond just sending alerts (which are often ignored) to helping them understate the potential risk and automating simple tasks. By automating simple tasks, IT professionals will be more efficient and able to focus on higher value activities.
Continued market consolidation
While 2018 saw a lot of market consolidation – especially with privileged access vendors – I anticipate we will continue to see more acquisitions and consolidation in the next 12-24 months across all IT security vendors. Customers are looking to buy complete solutions from one vendor if possible and not manage a patchwork of solutions. IT security vendors will look to purchase or OEM complementary solutions to offer more options for their customers.
Make securing your privileged accounts a new year’s resolution for 2019. Get started today with Xton Access Manager (XTAM). It provides complete, control for your privileged passwords, secrets, certificates and documents to meet audit requirements while limiting your risk of security breaches. Download your free trial today.