Outlook on the Password Management Global Market to 2027 - Rising Prevalence of Cyber-attacks is Driving Growth

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Mar 16, 2022, 07:30 ET

DUBLIN, March 16, 2022 /PRNewswire/ -- The "Global Password Management Market By Type, By End User, By Organization Size, By Access, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Password Management Market size is expected to reach $2.9 billion by 2027, rising at a market growth of 20.7% CAGR during the forecast period.

A password is a string of characters that allows you to access a service or device while also protecting you from unauthorized access. Password management is a software solution that helps IT administrators manage and organize passwords on servers, network appliances, and computer systems. It is generally used by end-users to audit, safeguard, manage, and monitor actions linked with privileged accounts as a tool for information security and governance. These software programs aren't just for businesses; they're also employed as a security tool by individuals. They preserve critical data, files, financial records, and legal information from cyber-attacks.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic is considered as one of the most lethal infection over centuries. COVID-19 not only caused a disaster to humanity by depriving millions of people of their lives, but it also caused a steep downfall to the economies all over the world. In addition, The COVID-19 pandemic presented a significant challenge to all businesses around the world in terms of continuing to operate amid widespread office closures. Changes in work culture had a significant impact on IT security. Cyber-attacks, data breaches, and network intrusions disrupted companies' operations and became a big concern for enterprises across industries.

Market Growth Factors:

Rising prevalence of Cyber-attacks

Password management is a robust approach to ensure enterprise security by making it easier to store and secure complex account credentials. Every person in a business is responsible for different accounts, each of which requires a separate and safe password. Because of the rising amount of cyber-attacks around the world, there is a significant demand for secure working methods to protect databases and other necessary and confidential digital documents.

Rising adoption of cloud-based databases and processes

The rise of cloud computing, the Internet of Things (IoT), and other digital frameworks around the world is propelling the market forward. Global organizations are increasingly using password management solutions to simply reset and manage their passcodes. The systems are commonly used for automated password resets, frequent passcode randomization, and session records due to their cost-effective and time-saving advantages. Furthermore, as the quantity of online transactions grows, password management has become increasingly important for protecting online information and preventing online fraud.

Marketing Restraining Factor:

Security and privacy-related risks

Password managers are tools that comprise the ability to read and learn all the passwords that are stored in a device along with each account's email address or other unique user identification. Storing multiple passwords in a single memory becomes a very critical subject matter when unauthorized access invades that memory. Also, in the case of password management, while these tools store all the passwords in one memory, they also come with a drawback that if any toxic substance, for instance, malware, successfully makes access into the memory, it is enabled to read all the passwords that are stored in that memory.

Password Management Market Competition Analysis

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Password Management Market. Companies such as Dell Technologies, Inc., Hitachi, Ltd., Centrify Corporation are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Broadcom, Inc. (CA Technologies, Inc.), Dell Technologies, Inc., Hitachi, Ltd. (Hitachi ID Systems, Inc.), Microsoft Corporation, Knowledge Secure Systems Ltd., Avatier Corporation, Centrify Corporation (TPG Capital), FastPassCorp A/S, and Core Security (HelpSystems, LLC).

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Product Launches and Product Expansions
3.2.2 Partnerships, Collaborations and Agreements
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions 2020, Jul - 2021, Sep) Leading Players

Chapter 4. Global Password Management Market by Type
4.1 Global Self-service Market by Region
4.2 Global Privileged Market by Region

Chapter 5. Global Password Management Market by End User
5.1 Global BFSI Market by Region
5.2 Global IT & Telecom Market by Region
5.3 Global Healthcare Market by Region
5.4 Global Retail & Wholesale Distribution Market by Region
5.5 Global Public sector & Utilities Market by Region
5.6 Global Education Market by Region
5.7 Global Manufacturing Market by Region
5.8 Global Other End User Password Management Market by Region

Chapter 6. Global Password Management Market by Organization Size
6.1 Global Large Organizations Market by Region
6.2 Global Small & Medium Organizations Market by Region

Chapter 7. Global Password Management Market by Access
7.1 Global Desktops & Laptops Market by Region
7.2 Global Mobile Devices Market by Region
7.3 Global Voice-enabled Password Systems Market by Region
7.4 Global Others Password Management Market by Region

Chapter 8. Global Password Management Market by Region

Chapter 9. Company Profiles
9.1 IBM Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 SWOT Analysis
9.2 Broadcom, Inc. (CA Technologies, Inc.)
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments
9.2.5.1 Acquisition and Mergers:
9.2.6 SWOT Analysis
9.3 Dell Technologies, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and developments
9.3.5.1 Partnerships, Collaborations, and Agreements
9.3.6 SWOT Analysis:
9.4 Hitachi, Ltd. (Hitachi ID Systems, Inc.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments
9.4.5.1 Partnerships, Collaborations, and Agreements
9.4.5.2 Product Launches and Product Expansions
9.5 Microsoft Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments
9.5.5.1 Product Launches and Product Expansions
9.5.6 SWOT Analysis
9.6 Knowledge Secure Systems Ltd.
9.6.1 Company Overview
9.7 Avatier Corporation
9.7.1 Company Overview
9.7.2 Recent strategies and developments
9.7.2.1 Product Launches and Product Expansions
9.8 Centrify Corporation (TPG Capital)
9.8.1 Company Overview
9.8.2 Recent strategies and developments
9.8.2.1 Partnerships, Collaborations, and Agreements
9.8.2.2 Product Launches and Product Expansions
9.8.2.3 Acquisition and Mergers:
9.9 FastPassCorp A/S
9.9.1 Company Overview
9.10. Core Security (HelpSystems, LLC)
9.10.1 Company Overview

For more information about this report visit https://www.researchandmarkets.com/r/ew5bi8

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