The latest report by IMARC Group, titled “Password Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global password management market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global password management market size reached US$ 1,642 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 7,386 Million by 2027, exhibiting a growth rate (CAGR) of 28.9% during 2022-2027.
A password represents a series of characters that enable access to a service or device while offering a line of protection from unauthorized access. Password management is a software solution that aids in managing and organizing passwords present on a network appliance, server, or computer system of IT infrastructures. It is utilized as a tool for information security and governance by end-users for auditing, securing, managing, and monitoring activities associated with privileged accounts. Password management systems are being increasingly adopted by enterprises to reset and manage their passcodes conveniently. These solutions offer protection against cyberattacks and safeguard sensitive data, files, legal information, financial records, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The emergence of various digital frameworks, such as cloud computing and the Internet of Things (IoT), is among the key factors driving the global password management market. Moreover, owing to their cost-effective and time-saving characteristics, password management systems are also gaining traction for automated password resets, frequent passcode randomization, session recordings, etc., thereby further catalyzing the market growth.
Besides this, the increasing number of online transactions is propelling the demand for passcode management systems to secure online information and prevent online fraudulent. Furthermore, the rising concerns regarding cybersecurity, coupled with the escalating instances of security breaches by hackers, are encouraging the adoption of complex password generation rules across organizations. This, in turn, is expected to stimulate the global password management market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- Avatier
- CA Technologies
- Centrify
- Core Security Technologies
- FastPassCorp
- Google Inc.
- Hitachi ID Systems Inc.
- IBM
- Microsoft Corporation
- Micro Focus
- NetIQ Corp.
- SailPoint Technologies
- SonicWall
Key Market Segmentation:
Breakup by Type:
- Self-Service Password Management
- Privileged User Password Management
Breakup by Access:
- Mobile Devices and Tablets
- Desktop and Laptops
- Voice Enabled Password Systems
- Others
Breakup by Deployment Type:
- On-Premise
- Hosted
Breakup by End-User:
- Small and Medium Sized Organizations
- Large Organizations
- Others
Breakup by Vertical:
- Healthcare
- BFSI
- Public Sector
- IT & Telecom
- Retail & Consumer Goods
- Education
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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