According to a recent study by Hexa Research, the global password management market is expected
to grow at a CAGR of more than 17.5% from 2014 to 2019. Stringent regulations
pertaining to creation and alteration of passwords and complexity of systems
are generating high demand for password management solutions from many
organizations worldwide. Rising accounts of cyber crimes are leading to
increased need for efficient password protection services, either self serviced
or privileged. Cloud computing and effective pricing are also contributing to
growth. The global password management market was valued at approximately $310
million in 2014. It is expected to grow to around $708 million in 2019.
However, Hexa Research opines that higher need for customized solutions and
poor success rate of implemented projects will inhibit industry growth.
Browse Details of Report @ http://www.hexaresearch.com/research-report/password-management-industry/
Key end-use industries for the global password management market
constitute education, banking, financial services, and insurance, healthcare,
telecom, manufacturing, energy, etc. These sectors are characterized by a
complex network of password protected systems that permit access only to
specific authorized users.
Hexa Research segments global password management industry on the basis
of organizational size into enterprises and SMBs – small and medium-sized
businesses. Enterprises create significant demand for password management
services due to the need for securing their complex systems.
North America will prove to be most lucrative for the growth of password
management industry primarily due to widespread end-use applications. Also,
there is a high presence of several market players in this region, which boosts
growth. Hexa Research identifies IBM, Google, Microsoft, Dell, Sailpoint
Technologies, Avatier Corporation and Knowledge Secure Systems Ltd., among
others, as the main operators in the global password management industry. They
offer on-site or cloud based password management solutions. Google and
Microsoft are engaged in development of innovative methods for managing
passwords that include USB tokens, automatic encrypted solutions, etc.
Browse Related Category Reports @ https://www.hexaresearch.com/research-category/technology-industry
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industries across the globe. We offer comprehensive business intelligence in
the form of industry reports which help our clients obtain clarity about their
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