Password Management Market Report 2020: Global Industry Size, Share, Growth, Top Companies and Forecast Till 2025

According to the latest report by IMARC Group, titled "Password Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global password management market size is expanding at a strong rate. Passwords represent one of the most common methods for users to authenticate themselves while entering a website or a computer system. They act as the first line of defense against unauthorized access, owing to which they are targeted by hackers. As a result, there has been a rise in the demand for password management systems across the globe, which assist in securing and managing passwords by adhering to a set of sustainable practices. These systems store passwords in an encrypted format and provide secure access to all the password information with the help of a master password.

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Global Password Management Market Trends:

Due to rapid digitization and increasing penetration of the internet, people nowadays log in to numerous social media sites, shopping pages, and online banking portals. As a result, they have multiple passwords to remember. Moreover, as human-generated passwords are often algorithmically weak and prone to cyberattacks, there is a rise in the demand for password managers across the globe. Besides this, owing to the increasing number of online transactions, password management solutions aid in protecting online information and preventing online frauds. As a result, these managers are widely being adopted by global enterprises to manage their passcodes conveniently due to their cost-effective and timesaving features. On account of these factors, the market is anticipated to grow at a CAGR of around 14% during the forecast period (2020-2025).

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Key Market Segmentation:

Market Breakup by Type:

1. Self-Service Password Management
2. Privileged User Password Management

Based on the type, the market has been bifurcated into self-service and privileged user password management.

Market Breakup by Access:

1. Mobile Devices and Tablets
2. Desktop and Laptops
3. Voice Enabled Password Systems
4. Others

On the basis of the access, the market has been segmented into mobile devices and tablets, desktops and laptops, voice-enabled password systems, and others.

Market Breakup by Deployment Type:

1. On-Premise
2. Hosted

The market has been analyzed on the basis of the deployment type into on-premise and hostel.

Market Breakup by End-User:

1. Small and Medium Sized Organizations
2. Large Organizations
3. Others

Based on the end user, the market has been segregated into small and medium-sized, large, and other organizations.

Market Breakup by Vertical:

1. Healthcare
2. BFSI
3. Public Sector
4. IT & Telecom
5. Retail & Consumer Goods
6. Education
7. Others

On the basis of the vertical, the market has been divided into healthcare; banking, financial services and insurance (BFSI); public sector; information technology (IT) and telecom; retail and consumer goods; education; and other sectors.

Market Breakup by Region:

1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America

Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).

Competitive Landscape:

The competitive landscape of the market has been examined, with some of the key players being Avatier Corporation, CA Technologies (Broadcom Inc.), Centrify Corporation, Core Security Technologies, FastPassCorp A/S, Google LLC, Hitachi ID Systems, Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Micro Focus International PLC, NetIQ Corporation, SailPoint Technologies Inc. and SonicWall Inc.

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