Password Management Market size was valued at USD 1.51 Billion in 2021, registering a CAGR of 25.1% during the forecast period (2022-2030), and the market is projected to be worth USD 11.33 Billion by 2030.
Password management is essentially a software solution that assists organisations with password storage. Password management is becoming an important component of the identity management business. Human-generated passwords are commonly attacked and use insecure algorithms. Password management is useful not only for people, but also for many organisations, including small, medium, and large corporations, as a tool for information and governance security. They also secure, administer, audit, and monitor any activity associated with their privileged accounts.
Password Management Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Self-service password management, Privileged user password management), Access (Mobile devices and tablets, Desktop and laptops, Voice enabled password systems, Others), Industry Vertical (Healthcare, Banking, financial services, and insurance (BFSI), Public sector, IT & telecom, Retail & consumer goods, Education, Others), and companies (IBM Corporartion, Google LLC, Microsoft Corporation, Micro Focus, My1Login, Hitachi ID Systems, Inc., FastPassCorp A/S., Broadcom., Avatier, IDMWORKS, SailPoint Technologies Holdings, Inc), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 25.1%, over the forecast period of 2022–2030
The increased adoption of Password Management in the Network Security industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Password Management also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Password Management in many sectors also boosts the market growth during the forecast period.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||11.33 Billion|
|By Type||Self-service password management, Privileged user password management|
|By Access||Mobile devices and tablets, Desktop and laptops, Voice enabled password systems, Others|
|By Industry Vertical||Healthcare, Banking, financial services, and insurance (BFSI), Public sector, IT & telecom, Retail & consumer goods, Education, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||IBM Corporartion, Google LLC, Microsoft Corporation, Micro Focus, My1Login, Hitachi ID Systems, Inc., FastPassCorp A/S., Broadcom., Avatier, IDMWORKS, SailPoint Technologies Holdings, Inc|
The COVID-19 pandemic has had a substantial negative influence on the Password Management market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
IBM Corporartion, Google LLC, Microsoft Corporation, Micro Focus, My1Login, Hitachi ID Systems, Inc., FastPassCorp A/S., Broadcom., Avatier, IDMWORKS, SailPoint Technologies Holdings, Inc
Market Segment Analysis:
- Mobile devices and tablets
- Desktop and laptops
- Voice enabled password systems
- Self-service password management
- Privileged user password management
By Industry Vertical
- Banking, financial services, and insurance (BFSI)
- Public sector
- IT & telecom
- Retail & consumer goods
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Password Management industries in the region.
Key Password Management Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Password Management Market segments.
– Largest Market Share Held by Industry to Industry for Password Management
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Password Management Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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