Market Revenue Password Management Industry Analysis of Sales | Page 2

On contrary, it becomes easy to use a password management system that renders help in retrieving lost or
forgotten passwords in regards to important online accounts. Further, the password management does not only
offer solutions to the enterprises but also caters to individual users with feasible solutions. Industries and
enterprises are now becoming aware of the password management and therefore, a significant rise has been
observed in the product adoption too. The major drivers of the password management industry are required to
obey the strict compliances and the rising risk of data theft. This is attributed to the industries like healthcare,
Banking, Financial Services & Insurance and public sector. Growing attacks by the hackers have raised issues
against password security. This supports the growing demand for password management solutions.
The password management solutions and products are positioned either in the hosted environment over cloud
or on premise environment. The speedy rise in the cloud market also augments the growth of industry. The
cloud market is expected to widen the opportunities in hosted the market. However, the growing built-in
management, custom-built, and extension requirement are some restraints for the growth of the market.
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The password management industry is categorized on the grounds of access, product type, industry vertical and
geography. On the grounds of access, the market is divided into smart phones, tablets, laptops, desktops, voice-
enabled password systems, etc. On the grounds of product type, the industry is divided into privileged user and
self-service password systems, etc. From among these, Self-Service Password Systems division is expected to be
dominant in the password management market due to extensive usage in smaller enterprises for proper security
measures against mandate compliance and threats.
On the grounds of industry vertical, the market is divided into (BFSI) Banking, Financial Services & Insurance, IT
& Telecom, public sector, healthcare, education, retail and consumer goods, etc. Geographically, the password
management industry is segmented as North America, Europe, LAMEA and Asia Pacific. North American
accounts for the largest password management market share owing to the rising applications in end-use
industries and increase in cyber threats.
Some of the prominent password management industry players are Google Inc., Microsoft Corporation,
Knowledge Secure Systems Ltd., Hitachi ID Systems, Inc., Fast pass Corporation, Avatier Corporation, NetIQ
Corporation, Sonic wall Inc., Sail Point Technologies Pvt. Ltd., and Courion Corporation.
Market Segment: