A password management system helps manage passwords and secure valuable organizational data by providing automated encrypted solutions. Password management solutions are widely used by end-users to secure, audit, manage, and monitor all the activities associated with privileged accounts.
These systems have seen increased demand as employees turn to mobile devices for their business needs.
“The increased demand for uninterrupted connectivity between a corporate network and an employee’s mobile device has led to the high adoption of password management in enterprises,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes technological advances that are driving vendors to offer SaaS-based password management solutions to their customers.
Organizations are adopting these solutions because of the benefits they offer, including the availability of pay-per-use models and the provision of instant access. The increasingly complex requirements of companies has led to a surge in demand for SaaS-based password management solutions.
“SaaS-based solutions are outpacing traditional software and service-based password management solutions because of their considerable flexibility,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Hardware OTP Token Authentication Market 2015-2019
- Global Identity and Access Management Market 2015-2019
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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