CyberArk Software (CYBR) Bank of America Global Technology Conference 2025 summary

Market trends and customer demand

• Identity security is increasingly critical as attacks target both human and machine identities, driving robust and urgent customer demand despite macroeconomic noise.

• Customers are prioritizing identity security investments, with little sign of demand slowing or deferral.

Core PAM and platform evolution

• Privileged Access Management (PAM) remains a vibrant, growth market with significant runway, especially as many privileged users remain unsecured.

• Expansion opportunities exist through modernization, cross-sell, and greenfield enterprise adoption, with most new customers landing with multiple products.

• Multi-year roadmaps and division-by-division rollouts drive ongoing growth within existing accounts.

Competitive landscape and differentiation

• Identity security is attracting new entrants, but established players differentiate through preventative, deterministic controls versus SOC-based, probabilistic approaches.

• Customers often deploy both types of solutions, but true identity security requires comprehensive controls, not just signal-based detection.

• The market is consolidating around trusted vendors who can deliver unified platforms and stay ahead of evolving threats.