San Francisco, Nov 01 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:
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: 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
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-password-management-market
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.
For more information:
www.grandviewresearch.com
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