According to Stratistics MRC, the Global Password Management market is accounted for $421.52 million in 2016 and is expected to reach $1487.56 million by 2023 growing at a CAGR of 19.7%.
Gaithersburg, Maryland, United States - January 22, 2018 /MarketersMedia/ —
Growing number of ways of resetting passwords, growing adoption of SSPR solutions in Smbs are some of the key factors driving the market growth. However, malpractices like customization requirements, synchronization and extensions are restraining the market.
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Password management is a software solution that helps to store and organize passwords. It is widely used by the end-users to secure, audit, manage, and monitor all activities associated with privileged accounts. It is used as a tool for governance and information security. Companies such as Google and Microsoft are trying to offer innovative ways of password management such as USB tokens and automatic encrypted solutions.
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Self-Service Password Reset segment is expected to be dominant in the market, on account of heavy usage among small business enterprises in order to the proper usage of security measures for threats and mandate compliance. North American accounted for the largest market share due to the increase in cyber threats and rising applications in end-use industries.
Some of the key players of the Password Management market include Hitachi ID Systems, Microsoft Corporation, Ca Technologies, Sailpoint Technologies, Avatier, Fastpass Corp, IBM Corporation, Courion Corporation, Netiq, Dell Sonicwall, Google Inc, Knowledge Secure Systems Ltd, Symark International and Centrify.
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Access Covered:
• Mobile devices and Tablets
• Voice Enabled Password Reset
• Desktop and Laptops
• Other Access
Deployment Models Covered:
• Hosted
• On-Premise
Types Covered:
• Privileged User Password Management
• Self-Service Password Reset
End Users Covered:
• Public Sector & Utilities
• Banking, Financial Services and Insurance (BFSI)
• Healthcare
• Telecom & IT
• Retail & Wholesale Distribution
• Education
• Energy, Oil & Gas
• Manufacturing
• Other End Users
Organization Sizes Covered:
• Small-Sized Businesses
• Medium-Sized Businesses (SMB)
• Enterprises
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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Source: MarketersMedia
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