Password Management Market Checkout the Unexpected Future 2026 | Avatier, Ca Technologies, Courion Corporation etc.
The global password management market was valued at USD 400 million in 2017 and is expected to grow at a CAGR of 16% during the forecast period, 2019–2026.
Password management primarily involves the adoption of a software application to manage and store passwords that a user possesses for various online accounts. The primary functions of password management systems include imposing password complexity, password rotation, and others. Cloud-based storage, mac, and Linux-based systems are, at present, trending in the market as they improve workflow and hence, facilitate cost savings. However, each of these resources requires its own password for access, which propels the demand for password management systems.
The emergence of cloud technology and the Internet of things (IoT) has tremendously increased the demand for password management solutions. The self-service password management segment is expected to hold a significant market share, owing to the ease of operation offered by these solutions without any help from third parties, which reduces the time and cost incurred. Privileged password management mainly operates by password reset and session recording, among others.
North America is expected to dominate the market, owing to the presence of prominent companies, coupled with the growing adoption of password management solutions across various end-use sectors. Additionally, technological advancements in the field of cloud, analytics, and others are also expected to significantly propel market growth during the forecast period.
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The Major Prominent Players Covered in this Report:
Avatier, Ca Technologies, Courion Corporation, Dell Sonicwall, Fastpass Corp, Hitachi ID Systems, IBM, Netiq, Microsoft, and Sailpoint Technologies. & More.
By Type, Self-Service Password Management, Privileged User Password Management,
By Enterprise, Small and Medium Enterprises, Large Enterprises,
By End-User, Energy and Utilities, Retail, BFSI, Government and Defence, Healthcare, Others,
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Password Management in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Password Management market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Password Management and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Password Management. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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Key Questions Answered in The Report:
What will the Password Management market growth rate?
What are the key factors driving the global Password Management market?
Who are the key manufacturers in the Password Management market space?
What are the market opportunities, market risk, and market overview of the Password Management market?
What are sales, revenue, and price analysis of top manufacturers of the Password Management market?
Who are the distributors, traders, and dealers of the Password Management market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Password Management Industry?
What are sales, revenue, and price analysis by regions of Password Management industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
Key Password Management Market Trends:
- The report identifies, determines, and forecasts the Global Password Management Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Password Management Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Password Management Market.
Recent Developments -
In September 2018, Google released new features for Chrome to improve the overall browser experience. Major features in this update include an improved password manager, which will allow the browser to automatically generate a random password when you sign up to websites for the first time. This would allow the browser to stop users from picking the same password for each site, thereby ending up with a security headache if a site is breached.
In October 2018, Ivanti, a company involved in the development of cybersecurity and IT management solutions, launched a new solution named Ivanti Password Director, which allows quick and secure password reset. The new service would allow users to unlock their accounts from any desktop window or mobile app without seeking permission from the enterprise service desk.
In August 2017, SyferLock Technology Corporation announced its partnership with Avatier Corporation to upgrade SyferLock’s authentication solution interoperable with Avatier’s Password Station.
In November 2017, Tunnelbear, a popular virtual private network provider, announced the decision to expand its operations in password management with Remember, which primarily encrypts and stores all passwords and other credentials and automatically fills data when the user is purchasing or surfing various retail sites.
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