PAM Market Overview
KuppingerCole, a leading analyst organization headquartered in Europe, announced public availability of its Leadership Compass report for Privileged Access Management. The report suggests that PAM has become one of the “fastest growing areas of cybersecurity and risk management solutions”. KuppingerCole estimates the PAM market is a $2.2bn market by revenue with a growth of up to $5.4bn expected by 2025.
The reports states how credential vaulting, password rotation, controlled elevation and delegation of privileges, session establishment and activity monitoring are now almost standard features of any PAM solution. More advanced capabilities such as privileged user analytics, risk-based session monitoring, advanced threat protection, and the ability to embrace PAM scenarios in an enterprise governance program are becoming the new standard for PAM solutions to protect against today’s threat.
Sectona Strongly Recognized as Challenger
Sectona has impressively surpassed several competitors in this report to make its way as a strong Challenger to look forward to. Among a competitive space of 25 vendors recognized in this report, 80% of whom have been in the industry for over a decade, Sectona in a short span of just over 3 years has shown immense growth and earned an admirable spot as a strong Challenger in the Overall rating. The lead analyst Paul Fisher highlights “Given how the short time that has elapsed since the company was founded, it is maturing at an impressive rate”.
Speaking about some key innovation and strengths, the report also rates Sectona a respectable Challenger in the Product and Innovation Rating sections. This has been a noteworthy feat for the company considering how it has quickly graduated from being a Follower in the previous report to a Challenger this year. Feature-rich, the KuppingerCole analyst also rates Sectona’s PAM solution Spectra as a ‘positive’ when it comes to Interoperability, Usability and Deployment.
Sectona PAM Analysis in the Report
Considering Sectona is a young company, analysis of its PAM product involves mostly hits especially for the key aspects with little misses.
– Easy to understand and use dashboard, PDK (Plugin Development Kit) does not need coding
– Access from wide range of platforms without agents or plug-ins
– Strong support for cloud-based services to onboard assets
– A collaborative, cross-platform approach allows for integrations offering desired flexibility
– Despite its relative youth, the company has done well to present some advanced ideas on PAM and application integration
Fisher specifically calls out Spectra’s PSM (Privilege Session Management) strength stating that it “offers access to privileged sessions over any HTML5 supported browser from any platform without the need of agents or plugins to be installed”. This aligns with not just the core PSM capability but also covers needs of advanced requirements including secure remote access for users, especially in today’s digital environments.
– While undoubtedly innovative, Spectra needs to offer more capabilities to succeed in Europe and North America
– May struggle to fund the marketing it deserves
– Functionally limited to PSM with lack of proven AAPM (Application to Application Password Management), CPEDM (Controlled Privilege Elevation and Delegation Management) capability
Primarily being a non-funded company, Sectona has grown its revenue 300% YoY. This is testament to the fast-growing business and financial stability of our company. Sectona has a strong foothold thus far in India, Middle East and East African countries and have aggressively begun adequate marketing initiatives to penetrate and sustain newer markets including Europe.
From a technology standpoint, Sectona’s Spectra PAM solution has proven Application to Application Password Management capabilities. This is highlighted in the report by Fisher where he mentions “It’s up to speed with features such as application to application password management by using APIs and SSKs (Software Support Kits) for many platforms”. Spectra also has built-in Privilege Elevation and Task Automation capabilities. This is also rightly mentioned in the report stating Spectra “offers some degree of automation with Privileged Task Management”.
Where We are Headed
Our commitment to innovate and address more genuine and practical areas of concern around privileged access has never ceased. We continue to develop and enhance our PAM product capabilities to make it a more value-driven offering for organizations. Some of our innovative capabilities for the near future include:
DevOps – Secrets Management
Sectona is currently working towards making its DevOps secrets management module available by the 3rd quarter of this year. Sectona has always believed in a future vision and had started developing around DevOps secrets management last year. This thought process is also validated by KuppingerCole where they identify DevOps in organizations as one key contributor to the growth of the PAM market. To add to it, Paul Fisher highlights that Spectra “is well positioned to manage DevOps and containerization demands in the future”.
Privileged Account Governance
While Spectra has taken care of the customizable reporting and dashboard part in its current version, roadmap includes a dedicated PAG (Privilege Account Governance) module providing privileged access certifications and valuable insights related to the state of privileged access. This again is in line with some of the advanced capabilities that PAM solutions will be expected to have, as stated in the report.