Password Management Software - Emergence of Cloud Computing Services to Propel Growth | Technavio

Technavio has published a new market research report on the global password management software market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio’s latest market research report on the global password management software market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global password management software market will grow at a CAGR of around 13% during the forecast period. The rising network security threats are a major factor driving the market’s growth.

The rising dependence on websites and web applications has led to an unprecedented rise in cyber-attacks such as an advanced persistent threat (APT). In contrast with traditional threats, APTs can affect the whole IT infrastructure of an organization. APTs target critical installations such as government departments, web servers, and customer databases and are more dangerous than other threats. Moreover, attackers with strong networking knowledge try to carry out advanced threats such as APTs, and these threats are usually detected only after the attack.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers

In this report, Technavio highlights the emergence of cloud computing services as one of the key emerging trends driving the global password management software market:

Emergence of cloud computing services

The introduction of cloud computing has improved password management software capabilities. It provides central management and control for all passwords and protects them from cyber-attack. Cloud computing eradicates the need for users to update and maintain IT infrastructure. The cloud service provider takes all services and maintenance care. Service level agreement (SLA) confirms reliable delivery, management, and maintenance of services.

Organizations across the world are adopting cloud computing technologies to cut down costs of managing the enterprise IT infrastructure. Furthermore, with cloud computing services, end-users can concentrate more on organizational core activities rather than on managing applications. Moreover, enterprises can establish rapid deployment model that allows applications to be scaled quickly to match changing requirements.

“The cloud-based password management software assists enterprises in easy integration with third-party applications being hosted outside the enterprise firewall. Thus, the cloud has evolved as an ideal model to serve as a core platform and integration fabric for many enterprise applications with configuration flexibility, integrated security, and choice of access mechanisms. Apart from these advantages, the cloud-based password management software provides security at all levels of enterprise IT architecture, so that these applications can even be accessed from a remote location,” says a senior analyst at Technavio for research on enterprise application.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global password management software market segmentation

This market research report segments the global password management software market based on deployment model (cloud-based password management software and on-premises password management software) and key regions (the Americas, APAC, and EMEA).

Based on geography, the global password management software market was dominated by the Americas in 2017, accounting for more than 46% of the market share. The availability of adequate infrastructure, high frequency of cyber-attacks, the presence of several global financial institutions and large companies, stringent government regulations, and improved adoption of technologies among organizations in the Americas are the key factors contributing to its dominance. The Americas was an early adopter of modern technologies across industries and is witnessing increased adoption of password management with the advent of modern technology and internet of things (IoT).

Big savings with Technavio this February!

Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio's market research report on the global password management software market provides an analysis of the most important trends and drivers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com