The global password
management market size is expected to reach USD 2.05 billion by
2025, according to a new report by Grand View Research, Inc., progressing at a
CAGR of 19.4% during the forecast period. Increasing complexity of compliance,
regulatory, and risk management environment in businesses are promoting the
implementation of password management solutions across several industries
worldwide. In addition, strict and complex password creation rules and mandates
by governments are playing a vital role in shaping future of the market.
With upswing in the number of transactions sent via
internet every day, it has become more imperative to follow secure and safe
password management practices. Passwords help in protecting online information
such as emails, bank accounts, medical records, and more. Breaches that
occurred in 2015 with various enterprises such as Home Depot, Target, TJX, and
Heartland Payment systems helped in creating widespread awareness regarding
significance of using unique passwords for each online account. Most security
professionals recommend use of password management applications as the most
secure and practical way for people to follow safe password practices.
Password management use is not only restricted to
enterprises, but also helpful to individual users as it is a security tool for
their accounts and devices. Additionally, it is widely used by end-users to
audit, secure, monitor, and manage all the activities associated with
privileged accounts.
Mobile device password management is poised to post
the highest CAGR of 19.8% between 2017 and 2025. These solutions help
organizations secure mobile devices, including tablets and smartphones, from
threats. Password security applications help in securing the devices even in
offline mode in absence of internet connection.
Browse full research report on Password Management Market: https://www.grandviewresearch.com/industry-analysis/password-management-market
Further key findings from the report suggest:
- Desktops & laptops emerged as the largest access type segment
in 2016 and is estimated to contribute more than 35.0% of the overall
market revenue by 2025
- Global demand for password management solutions in mobile devices
amounted to USD 113.3 million in 2016 and is anticipated to witness
phenomenal growth over the coming years
- The U.S. enterprise market for password management was USD 80.1
million in 2016
- The market in Asia Pacific is projected to witness substantial
growth over the forecast period owing to various developments across major
economies, especially in terms of emergence of Internet of Things (IoT)
and BYOD trends. The regional market is expected to exhibit a CAGR of
20.9% from 2017 to 2025
- Key players including CA Technologies, Quest Software, NetIQ, and
SailPoint Technologies dominated the global password management market
while accounting for over 19% of the total revenue in 2016.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/network-security-software-and-services
Grand
View Research has segmented the global password management market on the basis
of type, access type, organization, end user, and region:
Password
Management Type Outlook (Revenue, USD Million, 2014 - 2025)
- Self-service
password management
- Privileged
user password management
Password
Management Access Outlook (Revenue, USD Million, 2014 - 2025)
- Mobile
devices
- Desktops
& laptops
- Voice enabled
password systems
- Others
Password
Management Organization Outlook (Revenue, USD Million, 2014 - 2025)
- Small & medium
organization
- Enterprise
Password
Management End user Outlook (Revenue, USD Million, 2014 - 2025)
- BFSI
- Education
- Healthcare
- Manufacturing
- Public sector
& utilities
- Retail &
wholesale distribution
- Telecom &
IT
- Others
Password
Management Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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