Password Management Market valued approximately USD 400 Million in 2016 is anticipated to grow with a healthy growth rate of more than 18% over the forecast period 2017-2025. The key factor which gives growth the market is growing adoption of password management solutions by small and medium organization. Furthermore, rising strict compliance, is encouraging application of these solutions among various end users across the globe. However, till now, success of password self-service projects is low among various end-users is a major concern among major market players.
Password management is not only used by enterprises, but also it is helpful for individual users like a security tool for their devices and accounts. Similarly, it is largely used by various end users to secure, monitor, manage, and audit the activities connected with privileged accounts. Now a day cyberattacks appear to become more prevalent and far reaching in their damage, further it is required for individuals and also for organizations to protect their data. Ability to transfer customer data, client files, medical records, employee files, financial records, and other valuable and sensitive information has enhanced the legal risks.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Self-Service Password Reset
- Privileged User Password Management
- Mobile Devices
- Voice Enabled Password Reset
By Industry vertical:
- Telecom & IT
- Energy, Oil & Gas
- Public Sector & utilities
- Retail & Wholesale Distribution
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are Avaiter, Ca Technologies, Courion Corporation, Hitachi ID Systems, IBM, Netiq, Dell Sonicwall, Fastpass Corp, Microsoft, and Sailpoint Technologies. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Password Management Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers