Password Management Software Market Key Development Factors and Growth Drivers
Global Password Management Software Market is anticipated to grow at a significant CAGR of 13.05% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Password Management Software Market(firmenpresse) - Global Password Management Software Market is anticipated to grow at a significant CAGR of 13.05% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Passwords act as the verification tool and a defense against attempts to unauthorized access. Password management has developed as a foremost segment of identity management market. The factors that propel the growth of the market include increased use of smart devices, growing synchronization, customization & extension requirements, and strict guidelines and mandates by government’s complex password creation.
The market may be explored by type, access, organization, end user, and geography. The market may be explored by type as privileged user password management and self-service password management. The “Self-service password management” segment led the market in 2016 and will continue to lead in the forecast period.
Based on access, the market could span voice-enabled password systems, desktops & laptops, mobile devices, and others. The “Desktops & laptops” segment led the market in 2016 and will continue to lead in the forecast period owing it use to secure, monitor, audit and manage all activities associated to privileged accounts.
The market could be explored based on organization as Enterprise and Small & medium organization. The “small & medium organization” segment led the password management software market in 2017 and will continue to lead in the forecast period. The key factors that may attributed to the growth of market includes strict compliance mandate and increasing threat have bound them to use suitable security measures.
The market could span as the end user as healthcare, education, BFSI, public sector & utilities, manufacturing, telecom & IT, retail & wholesale distribution, and others. The “BFSI” segment led the market in 2016 and will continue to lead in the forecast period.
North America accounted for the major share of the password management software market in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing applications of password management solutions across end-user industries and continuous technological advancements in fields of analytics. Furthermore, cloud and BYOD trends are anticipated to offer a substantial push to the regional market. North America is followed by the Asia-Pacific region.
Some of the key players that fuel the growth of the password management software market comprise CA Technologies, Inc., Avatier, Dell Sonicwall, Courion Corporation, Hitachi ID Systems, Fast Pass Corp., Microsoft Corp., IBM Corp., NetIQ Corp., and SailPoint Technologies and among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Datum: 31.10.2019 - 10:53 Uhr
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