Global Password Management Market

PUNE, India - Nov. 24, 2018 - PRLog -- Global Password Management Market was valued US$ 520.2 Mn in 2017 and is expected to reach US$ 2500 Mn by 2026, at a CAGR of 21.68% during a forecast period. The report is majorly segmented into Type, Access, Organization, End-user, and region.

Further, Password Management Market based on Type includes Self-service password management, and Privileged user password management. Access is sub-segmented into Mobile devices, Desktops & laptops, Voice enabled password systems, and others. Small & medium organization, and Enterprise are segmented under Organization segment, whereas End-user segment includes BFSI, Education, Healthcare, Manufacturing, Public sector & utilities, Retail & wholesale distribution, Telecom & IT, and others. The report covers analysis, market forecast and competitive landscape of the industry by region.

Regions are segmented by North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.Password is a string of characters that allows access to the computer devices. The basic task of password management is to encode and decrypt the data. Password provides a line of protection against unauthorized access. In terms of type, Self-service password management make available features such as management and resetting of passwords to the employees without needing the help of helpdesks. The privileged password management solutions offer higher security to passwords by maintaining the passwords of privileged users.

The privileged password management arrange various methods including frequent randomization of passwords, automated password resets and privileged session recording. Privileged User Password Management segment is expected to be the fastest growing market.

Based on end user, the BFSI segment reported as a largest segment. Major driver of password management system are rising network security threats, increased use of smart devices, and enlarged instances of attacks by hackers is improved anxieties toward password security and this is helping in growing demand for password management solutions.

Threat from open-source password management software providers and lack of efficient security measurements are the major challenge for password management market. North American market is accounted to be the dominant among others, which is favoured by increase in cyber threats.

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