Password Management Market is Expected to Reach $709.6 Million by 2019 – New Report by MarketsandMarkets
(PRWEB) July 03, 2014 -- The report, "Password Management Market by Type (Self Service Password Reset, Privileged User Password Management) & by Access (Desktop, Mobile Devices, Voice Enabled Password Reset) - Global Advancements, Forecasts & Analysis (2014-2019)," segments the global market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights into trends, opportunities, and challenges.
Browse more than 65 market data tables and 14 figures spread through 151 pages and in-depth TOC on Password Management Market by Type (Self Service Password Reset, Privileged User Password Management) & by Access (Desktop, Mobile Devices, Voice Enabled Password Reset) - Global Advancements, Forecasts & Analysis (2014-2019): http://www.marketsandmarkets.com/Market-Reports/password-management-market-105325287.html
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The complex and strict, password creation rules and regulations by the government are playing a major role in shaping the future of password management market. On the other hand, the fact that increased numbers of accounts maintained by each individual makes it difficult to remember so many passwords, this results into forgotten password and locking of important accounts. Due to this, the password management need is not only restricted to enterprises, but also, individual users are also looking forward to password management solutions as a must-have security tool. There has been an immense increase in the adoption of password management solutions because it has enabled the organizations to reduce the cost associated with the helpdesk. However, the growing need for built-in synchronization, customization, and extension requirement is restraining the growth of this market.
MarketsandMarkets has segmented the global Password Management market by type of password management solutions: self service password management, and privileged user password management; by various access types: desktop, web, and telephone; by deployment model: hosted and on-premise; by industry verticals: BFSI, Telecom and IT, Energy, Oil and Gas, Public Sector, Manufacturing, Education, Healthcare, Retail, and Wholesale Distribution and others; by organization size: Small-sized business, Medium-sized business, and Enterprises; and by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).
The major forces driving this market are strict regulatory mandates, increase in number of methods password can be reset, and the reduction in cost associated to the helpdesk due to adoption of password management solutions. The prime opportunities which are expected to boost this market, are increasing market for cloud services and increasing adoption of self service password reset market by Small and Medium sized Business (SMB).
Browse 50+ market data tables and in-depth TOC on “Password Management [password management solutions types, access types, deployment types, industry verticals] Market: Global Advancements, Forecasts and Analysis (2014-2019). Early buyers will receive 10% customization on reports.
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MarketsandMarkets expects that the global Password Management market is estimated to be $311 million in 2014, and is expected to grow to $709.6 million in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 17.9% from 2014 to 2019. In the current scenario, NA is expected to be the biggest market on the basis of spending and adoption for the Password Management solutions. MarketsandMarkets further expects that the increasing Password Management markets by SMBs will further enhance the growth of the market.
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