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
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/password-management-market/request/rs1
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.
For
more info visit @ https://www.grandviewresearch.com
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