Password Management Market Scope, Revenue Driving Factors & Application Analysis Report, 2025

Felton, Calif., USA, Feb. 02, 2021 — /EPR Network/ —

The global Password Management Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The Global Password Management Market is anticipated to reach USD 2.05 billion by 2025 owing to the growing complexity of compliances, regulatory, risk of data theft in different major industries. Password is a sequence of characters that enables access to computer devices like smart phones or services. The primary task of password management is to encrypt and decrypt the data. It offers protection against unauthorized access.

Key Players:

• Avatier Corporation
• CA Technologies Inc.
• Centrify Corporation
• Core Security SDI Corporation
• Dell Software
• FastPassCorp A/S
• Hitachi ID Systems, Inc.
• IBM Corporation
• Knowledge Secure Systems Ltd.
• Microsoft Corporation

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Growth Drivers:

Password management is basically a software solution which stores and manages the passwords. It is beneficial for both, individual users and enterprise users. It includes collection of algorithms to operate the sequences of the password. Efficient password management solution has been on the rise among different enterprises due rise in complicated systems and regulations for creating and changing passwords. Moreover, the mobile device password management is expected to boost the Password Management Market with a CAGR of 19.4% in the near future.

With the growing number of online transactions, it has become obligatory to comply with safe and secure passwords management practices. Passwords enable a strong support in protecting crucial online information like bank accounts, emails, medical details, etc. A widespread awareness was created owing to the major breaches that occurred years back. It included awareness concerning the importance of using unique passwords for every single online account. To promote safer password practices, most security experts recommend to use the password management applications as the most practical and secure way of transaction.

The major drivers of the password management industry are required to obey the strict compliances and the rising risk of data theft. This is attributed to the industries like healthcare, Banking, Financial Services & Insurance and public sector. Growing attacks by the hackers have raised issues against password security. This supports the growing demand for password management solutions.

End user Outlook:

• BFSI
• Education
• Healthcare
• Manufacturing
• Public sector & utilities
• Retail & wholesale distribution
• Telecom & IT

Access Outlook:

• Mobile devices
• Desktops & laptops
• Voice enabled password systems

Regional Outlook:

Geographically, the password management industry is segmented as North America, Europe, LAMEA and Asia Pacific. North American accounts for the largest password management market share owing to the rising applications in end-use industries and increase in cyber threats.

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